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Maleic Anhydride is an anhydrous form of maleic acid. It is an organic compound with the molecular formula C2H2(CO)2O. Maleic anhydride is a colorless white solid that gives out an arid odor. It is produced on an industrial scale for the applications in coatings and polymers. Maleic anhydride was traditionally manufactured by oxidation of benzene. Currently, only a few manufacturers continue to use this process. The other compound which is used in the manufacturing of maleic anhydride is n-butane. Maleic anhydride comparatively poses low environmental risks. Exposure of maleic anhydride to humans can cause irritation to the respiratory tract, eyes, and skin.
The key market driver for the global maleic anhydride market is the increase in the demand for lubricating oil additives across several regions. Additives are used to improve fuel efficiency for petrol, diesel, and other lubricants. Rising concerns regarding the toxic emissions have impelled the regulatory organizations across the globe to mandate the use of cleaner fuels, which has increased the demand for oil additives.
Key Market Driver -
Rise in demand for lubricating oil additives
Key Market Restraint -
Concerns related the depletion of crude oil
Key market restraint for the global maleic anhydride market is the concerns related to the depletion of crude oil. Maleic anhydride is majorly produced from butane. Hence, the depleting level of crude oil will act as a market restraint for maleic anhydride market.
Based on raw material, the market is segmented into n-butane and benzene. Based on application, maleic anhydride market can be segmented into unsaturated polyester resin, copolymers, lubricating oil additives, alkenyl succinic anhydrides, malic acid, fumaric acid, agricultural chemicals, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Some of the notable companies in global maleic anhydride market are Huntsman Corporation, LANXESS A.G., Mitsubishi Chemicals, Compania Espanola de Petroleos, S.A., Nippon Shokubai Co., Ltd, MOL Hungarian Oil & Gas Plc., Polynt S.p.A, Changzhou Yabang Chemical Co. Ltd., Jiangyin Shunfei, Yongsan Chemicals Inc., and Ashland Inc.
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The global maleic anhydride market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to be the largest market for maleic anhydride. Rapid industrialization, construction activities, and increase in demand for automobiles in the Asia Pacific region is responsible for the growth. North America and Europe have witnessed moderate growth in the maleic anhydride market because of the environmental regulations related to the emission of greenhouse gases imposed by government agencies.
By Raw Material
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