The Europe Maleic Anhydride Market would witness market growth of 3.6% CAGR during the forecast period (2024-2031). In the year 2021, the Europe market's volume surged to 584.0 Kilo Tonnes, showcasing a growth of 18.6% (2020-2023).
Copolymers incorporating Maleic Anhydride (MAH) find extensive applications across various industries due to their versatile properties and functionalities. In the automotive sector, MAH copolymers are widely utilized as compatibilizers in the production of thermoplastic materials, enhancing adhesion between dissimilar polymers and improving the mechanical properties of composite materials used in interior and exterior automotive components. Therefore, the Spain market used 4.40 Kilo Tonnes of maleic anhydride as copolymers in 2023.
The Germany market dominated the Europe Maleic Anhydride Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $274.3 million by 2031. The UK market is exhibiting a CAGR of 2.6% during (2024 - 2031). Additionally, The France market would experience a CAGR of 4.4% during (2024 - 2031).
Maleic anhydride (C4H2O3) is a white crystalline solid that is highly reactive and widely used in various industrial applications. It is produced through the oxidation of benzene or butane and is a versatile chemical intermediate with diverse uses across several industries. For instance, it is a crucial raw material in producing unsaturated polyester resins (UPRs). These resins are widely used to manufacture fiberglass-reinforced plastics (FRP) for automotive parts, marine components, construction materials, and consumer goods applications. UPRs offer excellent mechanical properties, including high strength, durability, and corrosion resistance, making them suitable for various industrial and commercial applications.
Furthermore, maleic anhydride is a key intermediate in synthesizing 1,4-butanediol (BDO), a versatile chemical compound used to produce plastics, polyurethanes, solvents, and pharmaceuticals. BDO is utilized in manufacturing engineering plastics, elastomers, polyurethane foams, fibers, and applications such as automotive coatings, textiles, and personal care products. In addition, maleic anhydride is employed in producing alkyd resins, which are widely used in coatings, paints, adhesives, and surface coatings applications.
The growth of the pharmaceutical industry in Belgium can stimulate market growth for maleic anhydride by creating opportunities for suppliers and manufacturers. With expanding production capacities and research activities in the pharmaceutical sector, there may be a higher demand for maleic anhydride-derived chemicals for pharmaceutical formulations and applications.
As per the International Trade Administration (ITA), Belgium’s pharmaceutical industry spends $1.64 billion (€1.5 billion) on R&D annually, equivalent to 40 percent of all private investment made in Belgium. As a result, Belgium is home to 29 of the world’s top 30 pharmaceutical companies. Moreover, as the pharmaceutical industry in Belgium expands, there may be an increased demand for pharmaceutical intermediates, including maleic anhydride and its derivatives. Maleic anhydride is a precursor in synthesizing active pharmaceutical ingredients (APIs) and drug delivery systems, making it essential for pharmaceutical manufacturing.
Free Valuable Insights: The Global Maleic Anhydride Market will Hit USD 5.5 Billion by 2031, at a CAGR of 4.1%
Based on Raw Material, the market is segmented into N-Butane and Benzene. Based on Application, the market is segmented into Unsaturated Polyester Resins (UPR), 1,4-butanediol (BDO), Lubricating Oil Additives, Copolymers and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
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