From GlobeNewswire: 2024-11-14 08:29:00

The Maleic Anhydride Market is projected to reach USD 5.3 billion by 2032, with a CAGR of 4.1% from 2024 to 2032. The market size was USD 10.0 billion in 2023 and is expected to grow to USD 14.9 billion by 2032. Key drivers include demand for custom extrusion solutions and sustainable technologies.

One trend shaping the market is the increased use of maleic anhydride in high-performance materials for automotive and construction industries. There is also a rising demand for maleic anhydride in coatings and adhesives due to its bonding components and increased mechanical strength. Additionally, bio-based maleic anhydride is gaining traction for its sustainability benefits.

N-butane is the fastest-growing raw material segment in the maleic anhydride market, accounting for 32% of the market share in 2023. This raw material is preferred for its cost-effectiveness and availability in the production process. The unsaturated polyester resin (UPR) segment dominated the market in 2023, accounting for 34% of the market share, driven by demand in automotive and construction industries.

The Maleic Anhydride Market is expanding due to its application in packaging materials, offering increased strength, moisture resistance, and durability. The demand for sustainable packaging solutions is driving the use of Maleic Anhydride-based products in the packaging industry, particularly in sectors like food & beverages, electronics, and pharmaceuticals.

Asia-Pacific held the largest market share in the Maleic Anhydride Market in 2023, accounting for 42% of the global market. The region’s growth is driven by industrial sectors like automotive, construction, and coatings, supported by economic development and infrastructure projects. Recent developments include the introduction of bio-based maleic anhydride by DSM and capacity expansion by Lanxess in China.

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