Maleic Anhydride Market worth 5.08 Billion USD by 2020


Posted July 25, 2018 by abhijeetw1

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.

 
The maleic anhydride market is estimated to be worth USD 3.42 Billion in 2014 and is projected to reach USD 5.08 Billion by 2020, at a CAGR of 6.8% between 2015 and 2020. In this report, 2014 is considered as the base year and forecast period is between 2015 and 2020. The global maleic anhydride market has been segmented on the basis of raw material, application, and region. UPR is expected to play a key role in fueling the growth of the overall maleic anhydride market owing to the increasing demand from the end use industries. It accounted for the largest market share in the global market in 2014. UPR is projected to be the fastest-growing application from 2015 to 2020. N-Butane is the most preferred raw material owing to the low cost and increasing rules and regulation for the use of benzene.

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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.

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.

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.

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Maleic anhydride is produced by the oxidation of n-butane, and benzene, which is derived from crude oil in various refineries such as Jamnagar Refinery (Reliance Industries Ltd.) (India), Paraguana Refinery Complex (PDVSA) (Venezuela), GS Caltex Yeosu Refinery (GS Caltex) (South Korea), and others. The extracted n-butane and benzene is oxidized to get maleic anhydride which further goes in production of various derivatives such as UPR, 1,4-BDO, copolymers, additives, and others. These derivatives used in the manufacture of variety of products that are utilized by the industries such as automotive, construction & manufacturing, marine, and others.

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
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Issued By marketsandmarkets
Country United States
Categories Business , Industry , Manufacturing
Tags maleic anhydride , maleic anhydride market
Last Updated July 25, 2018