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Maleic Anhydride Market worth 5.08 Billion USD by 2020
The report "Maleic Anhydride Market by Raw Material (N-Butane and Benzene), by Application [UPR, 1,4-BDO, Additives, Copolymers, and Others), and by Region (NA, APAC, Europe, Row) - Global Forecast to 2020", The maleic anhydride market size, in terms of value, is projected to reach USD 5.08 Billion by 2020, at a CAGR of 6.8% between 2015 and 2020. The market is driven by the growing automotive industry and rapid industrialization in the Asia-Pacific region. The increasing demand of automobiles in emerging economies such as China, India, and Japan is fueling the growth of the maleic anhydride market in the region. Another major factor contributing to the growth of maleic anhydride is rising global demand for UPR, and 1,4-BDO.
Browse 86 market data Tables and 47 Figures spread through 120 Pages and in-depth TOC on "Maleic Anhydride Market by Raw Material (N-Butane and Benzene), by Application [UPR, 1,4-BDO, Additives, Copolymers, and Others), and by Region (NA, APAC, Europe, Row) - Global Forecast to 2020"
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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.
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.
The research study is aimed at identifying emerging trends and opportunities in the global maleic anhydride market along with a detailed classification of the market, in terms of value and volume. It provides a comprehensive competitive landscape and identifies the key players in the global market. The research study also includes a detailed segmentation of the global maleic anhydride market on the basis of application, raw material, and region.
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