Market Size of Maleic Anhydride Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Maleic Anhydride Market Analysis
The global maleic anhydride market is projected to register a CAGR of over 5% during the forecast period.
The COVID-19 pandemic in 2020 and the first half of 2021 affected various sectors, including maleic anhydride-producing industries. The maleic anhydride market showed negative growth as it was affected by disruptions in the global supply chain, the fluctuation of oil prices, and curtailed downstream demand. However, the market registered steady growth, owing to increased automotive and industrial activities in the second half of 2021.
- Over the short term, the rising global demand for unsaturated polyester resin and the growth of end-user industries in emerging nations are major factors driving the growth of the market studied.
- However, increasing government regulations regarding the handling and application of maleic anhydride are a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Still, the commercialization of bio-based maleic anhydride is likely to give the global market some good chances for growth in the near future.
- Asia-Pacific is estimated to witness healthy growth over the assessment period in the maleic anhydride market due to the wide usage of maleic anhydride in end-use application segments, such as automotive, construction, and other industries.
