[120 Pages Report] 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. Maleic anhydride is an organic compound produced on a large scale for applications in various industries including chemical synthesis, agriculture, paints & coatings, construction, automobile, marine, plastic, metal, food & beverage, and others It is a colorless solid with an unpleasant odor. Maleic anhydride acts as a chemical intermediate in various industrial processes. It is conventionally produced by the oxidation of aromatic compounds including benzene or n-butane industries. It is used to manufacture various compounds such as UPR (unsaturated polyester resin), 1, 4-BDO (1, 4-butanediol), additives, copolymers, and others.

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Currently, the global maleic anhydride market is dominated by various market players such as Huntsman International LLC. (U.S.), Changzhou Yabang Chemical Co. Ltd. (China), Zibo Qixiang Tengda Chemical (China), Ningbo Jiangning Chemical (China), Lanxess AG (U.S.), Polynt (Italy), Thirumalai Chemicals Ltd. (India), Ashland Inc. (U.S.), Flint Hills Resources (U.S.), Nippon Shokubai Co., Ltd. (Japan), Mitsubishi Chemical Corporation (Japan), Bartek Ingredients Inc. (Japan), Bluestar Harbin Petrochemical Corp (China), and others.

Drivers

Soaring demand for UPR and 1,4- BDO
Growth of end-use industries in the emerging nations
Restraints

Increasing governmental regulations
Rising use of green chemicals as an alternative for maleic anhydride
Fluctuating raw material prices and unavialability of n-butane
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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.

Asia-Pacific to be the largest as well as the fastest-growing market during the forecast period

The maleic anhydride market is broadly segmented into four regions, namely, Asia-Pacific, North America, Europe, and Rest of the World. Asia-Pacific is the largest market for maleic anhydride, followed by North America. Asia-Pacific is projected to be the fastest-growing market during the forecast period. Growing industrialization, in the region, has offered enormous opportunity for the use industries of maleic anhydride in the Asia-Pacific region.

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