The Maleic Anhydride Market is Predict to reach USD 5.5 Billion by 2031, at a CAGR of 4.1%

Maleic Anhydride Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global Maleic Anhydride Market size is expected to reach $5.5 billion by 2031, rising at a market growth of 4.1% CAGR during the forecast period. In the year 2023, the market attained a volume of 3240.0 Kilo Tonnes, experiencing a growth of 19.1% (2020-2023).

Innovation plays a crucial role in driving the growth and competitiveness of the maleic anhydride market. For instance, green chemistry principles and sustainable practices drive innovation in maleic anhydride production processes. Manufacturers are adopting eco-friendly technologies, solvent-free reactions, and alternative energy sources to minimize environmental impact, reduce energy consumption, and optimize resource efficiency. Green chemistry initiatives contribute to developing cleaner, safer, and more sustainable manufacturing processes.

The N-Butane segment is leading the Global Maleic Anhydride Market by Raw Material in 2023, thereby achieving a market value of $3.9 billion by 2031. Technological advancements have enabled the development of new process routes and catalyst systems to oxidize n-butane to maleic anhydride directly. Improved process efficiency, catalyst selectivity, and reaction kinetics make the n-butane route more viable and competitive than traditional benzene-based processes.

The Lubricating Oil Additives segment is anticipated to have a CAGR of 4.4% during (2024 - 2031). The automotive industry is one of the primary consumers of lubricating oil additives. With the increasing production and sales of vehicles worldwide, there is a corresponding rise in the demand for lubricants and lubricating oil additives to maintain engine performance, reduce friction, and prolong equipment life.

Full Report: https://www.kbvresearch.com/maleic-anhydride-market/

The Asia Pacific region dominated the Global Maleic Anhydride Market by Region in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $2.8 billion by 2031. The Europe region is exhibiting a CAGR of 3.6% during (2024 - 2031). Additionally, The North America region would experience a CAGR of 3.8% during (2024 - 2031).

List of Key Companies Profiled

• Huntsman Corporation
• Mitsubishi Chemical Holdings Corporation
• Lanxess AG
• Nan Ya Plastics Corp. (NPC)
• Nippon Shokubai Co., Ltd.
• IG Petrochemicals Limited (IGPL)
• China National BlueStar (Group) Co, Ltd. (China National Chemical Corporation)
• Yongsan Chemical Co., Ltd.
• Aekyung Chemical Co., Ltd. (AK Holdings Co., Ltd.)
• Ningbo Jiangning Chemical Co., Ltd. (Zhejiang Jiangshan Chemical Co., Ltd.)

Maleic Anhydride Market Report Segmentation

By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• N-Butane
• Benzene

By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• Unsaturated Polyester Resins (UPR)
• 1,4-butanediol (BDO)
• Lubricating Oil Additives
• Copolymers
• Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2020-2031)

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America Maleic Anhydride Market Size & Share to 2031

• May-2024
• 108 Pages

LAMEA Maleic Anhydride Market Size | Industry Trend - 2031

• May-2024
• 123 Pages

Europe Maleic Anhydride Market Size | Growth Report - 2031

• May-2024
• 122 Pages

Asia Pacific Maleic Anhydride Market Size | Trend to 2031

• May-2024
• 122 Pages