The global maleic anhydride market is projected to be worth USD 5.08 Billion by 2020, registering a CAGR of 6.8% between 2015 and 2020. This high growth is owed to the increasing demand for UPR and 1,4-BDO. More than 50% of maleic anhydride is used in the manufacture of UPR. Also, the rapid growth of the end use industries in emerging nations is one of the factors driving the growth of the market.

The UPR application dominated the maleic anhydride market, and is projected to register the highest growth rate in the overall market. The growing end-use industries such as automotive, construction & manufacturing, and marine are expected to drive the increasing demand for the maleic anhydride in the emerging nations. The improved living standards in emerging economies are contributing to the growth of the global market.

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The maleic anhydride market is classified on the basis of raw material into – n-butane and benzene. Maleic anhydride is produced by the oxidation of N-Butane or Benzene in the presence of specific catalyst. The maleic anhydride market is dominated by n-butane because of its low production cost, and environmentally friendly nature. Earlier benzene was the primary feedstock used to produce maleic anhydride using oxidation process. However, the increasing government regulations, high production cost, complex operation, and awareness about toxicity of benzene, manufacturers preferred n-butane for the production of maleic anhydride. N-Butane accounts for a share of about 90% of the maleic anhydride market, by value, in 2014. It is expected to dominate the market in the next five years.The major factor restraining the growth of the maleic anhydride market is increasing use of green chemicals as an alternative for maleic anhydride. Maleic anhydride is petroleum derived organic chemical intermediate, which is both, costly and environmentally unfriendly. Hence, the use of bio based succinic acid as an alternative for the maleic anhydride is increasing in the industries. Additionally, the increasing regulations for maleic anhydride at federal state as well as local level are responsible for the reducing global market share of maleic anhydride.

N-Butane to account for the major share of the maleic anhydride market till 2020

The maleic anhydride market is segmented by raw material, namely, n-butane, and benzene. N-Butane is the most preferred raw material and holds the major market share in global maleic anhydride market. The factors driving the n-butane maleic anhydride market are its lower cost process with higher productivity, a lower amount of risk involved, less complex production process, and it is less harmful to the environment.

Growing automotive industries and industrialization to drive the UPR application

The UPR application is leading the maleic anhydride market. This is owed to the rapid growth of the automotive, construction & manufacturing, and marine industry in the Asia-Pacific region. The increasing demand of automobiles can be attributed to the increasing disposable income of people and industrial growth in this region. This growth in the automotive industry eventually contributes to the growth of UPR in the Asia-Pacific region.

To know about the assumptions considered for the study:

https://www.marketsandmarkets.com/Market-Reports/maleic-anhydride-market-31705758.html

The target audiences for the maleic anhydride market report are as follows:

Maleic anhydride manufacturers
Maleic anhydride derivative manufacturers
Raw material suppliers
Service providers
End users such as automobile, marine, and manufacturing companies
Premium Insights (Page No. - 27)
4.1 Significant Opportunities for the Maleic Anhydride Market
4.2 Maleic Anhydride Market: By Region, 2015-2020
4.3 Maleic Anhydride Market in Asia-Pacific, By Application and Country
4.4 Maleic Anhydride Market Attractiveness
4.5 Maleic Anhydride Market Share, By Application and By Region, 2014
4.6 Life Cycle Analysis, By Region

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