Maleic Anhydride Market
Maleic Anhydride Market by Raw Material (n-butane and Benzene), Application (Unsaturated Polyester Resin (UPR), 1,4-butanediol (1,4-BDO), Lubricating Oil Additives, and Copolymers), and Region - Global Forecast to 2035
OVERVIEW
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
The maleic anhydride market is estimated to rise from USD 1.96 billion in 2026 to USD 3.79 billion by 2035 with a CAGR of 7.62%. The increasing demand for chemical intermediates, along with advanced production technologies that enhance efficiency and reduce costs, is driving the market growth. Expansion in global chemical manufacturing and favorable regulations are also contributing to the market growth.
KEY TAKEAWAYS
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BY REGIONAsia Pacific dominated the global maleic anhydride market in 2025, accounting for a market share of 59.6%, in terms of value.
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BY RAW MATERIALThe n-butane segment is projected to be the fastest-growing raw material segment in the overall maleic anhydride market, registering a CAGR of 8.75%, in terms of value, between 2026 and 2035
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BY APPLICATIONThe UPR segment dominated the global maleic anhydride market with a market share of 56.1%, in terms of value, in 2025.
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COMPETITIVE LANDSCAPE - KEY PLAYERSWanhua Chemical Group Co., Ltd. (China), Huntsman International LLC (US), and Zibo Qixiang Tengda Chemical Co., Ltd. (China) are identified as key players in the global maleic anhydride market. These companies have strong market presence and extensive product portfolios.
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COMPETITIVE LANDSCAPE - STARTUPSShanxi Taiming Chemical Industry Co., Ltd. (China), Huanghua Hongcheng Business Corp., Ltd. (China), and UPC Technology Corporation (Taiwan), among other emerging players, have carved out solid positions in specialized niche segments, highlighting their potential to become future market leaders.
There is high growth potential for the maleic anhydride market in the coming years due to increasing demand for unsaturated polyester resin, construction material, and automobile components. An emerging trend in the production of this chemical involves greater efficiency, lower costs, and enhanced environmental compliance. The use of this chemical enhances the properties of resins and intermediates, owing to increased durability and chemical stability.
TRENDS & DISRUPTIONS IMPACTING CUSTOMERS' CUSTOMERS
The effect on consumers’ business is based on consumer shifts or disruptions. The target end-use sectors and manufacturers involved in applications such as UPR, 1,4-BDO, lubricant oil additives, and copolymers are customers of maleic anhydride manufacturers. Disruptions that signify changing consumer trends will have an effect on the revenues of the end users. The revenue effect on end users will be reflected in the revenue of maleic anhydride manufacturers.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
MARKET DYNAMICS
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Strong demand from unsaturated polyester resins to drive market growth
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Rising use in lubricant additives to fuel market expansion
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Raw material price fluctuations limiting cost stability
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Regulatory pressure and environmental concerns restricting market growth
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Shift towards bio-based production creating new growth potential
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Growing use of advanced and functional materials
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Market sensitivity to cyclical industrial demand patterns
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Geopolitical instability disrupting supply chain continuity
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Driver: Strong demand from unsaturated polyester resins to drive market growth
The demand for maleic anhydride from UPR remains high, contributing positively to the market's growth. UPR is used in construction, automotive, and marine industries, making its consumption stable over time. With the growth of these industries, there will be an increasing demand for robust and lightweight materials. This is driving the demand for maleic anhydride.
Restraint: Raw material price fluctuations limiting cost stability
Fluctuations in raw-material prices create instability in manufacturing costs for maleic anhydride. The raw materials used to manufacture maleic anhydride are derived from petrochemical sources, and their prices are highly volatile, affecting profit margins. Therefore, it becomes difficult for manufacturers to keep stable pricing and cost efficiency.
Opportunity: Shift towards bio-based production creating new growth potential
The adoption of bio-based manufacturing processes represents an excellent avenue for growth for all players involved. There is increasing pressure from regulatory bodies and a need for greater sustainability, driving the shift towards the use of renewable raw materials. This allows firms to expand their product range while improving their sustainability profile. It also provides opportunities for innovation and value-added products.
Challenge: Market sensitivity to cyclical industrial demand patterns
The market continues to be very responsive to the demand cycles in important consumer sectors like the construction and automotive industry. The economic cycle will affect the level of consumption, hence impacting demand. This cyclicality will have a great impact on manufacturing activities and their inventory management. Managing these changes in demand will ensure efficient production and stability in revenues.
MALEIC ANHYDRIDE MARKET: COMMERCIAL USE CASES ACROSS INDUSTRIES
| COMPANY | USE CASE DESCRIPTION | BENEFITS |
|---|---|---|
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Use of maleic anhydride in production of surfactants and specialty chemicals for industrial and consumer applications | Enhanced product performance, improved formulation efficiency, consistent supply for downstream applications |
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Application of maleic anhydride in unsaturated polyester resins (UPR) for construction, automotive, and marine composites | High strength-to-weight ratio, improved durability, enhanced corrosion resistance |
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Use of maleic anhydride in 1,4-BDO production and downstream derivatives for engineering plastics and fibers | High-quality intermediates, improved material properties, stable production efficiency |
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Use of maleic anhydride in lubricating oil additives for automotive and industrial engine applications | Improved engine cleanliness, enhanced oxidation stability, reduced wear and extended lubricant life |
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET ECOSYSTEM
The maleic anhydride business ecosystem includes feedstock providers, chemical manufacturers, resin and intermediate manufacturers, and end users. The market for maleic anhydride can also be affected by the market for high-performance materials, which are required for applications like UPR, 1,4-BDO, lubricant oil additives, and copolymers. This ensures efficient cooperation among all participants in the value chain during product development, resulting in exceptional performance, efficiency, and flexibility of use.
Logos and trademarks shown above are the property of their respective owners. Their use here is for informational and illustrative purposes only.
MARKET SEGMENTS
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
Maleic Anhydride Market, By Raw Material
N-butane accounts for the largest share among other types in the global maleic anhydride market in 2025. This is primarily because of its affordability and availability as a feedstock material in the industrial process of manufacturing maleic anhydride. Using n-butane in maleic anhydride production is more productive than other feedstocks in terms of yield and efficiency. This makes n-butane the dominant type of raw material for large-scale producers.
Maleic anhydride Market, By Application
In 2025, the UPR segment held the highest market share due to its heavy reliance on maleic anhydride, a raw material used in resin production. The rising demand for UPRs is attributed to their widespread use in industries such as construction, automotive, and marine, which require highly durable, corrosion-resistant products. Due to UPR's low cost and versatility, demand for maleic anhydride in the segment is expected to be high.
REGION
Asia Pacific accounted for largest share of global maleic anhydride market in 2025
Asia Pacific accounted for the largest share of the maleic anhydride market in 2025, driven by the dominance of downstream industries such as UPR, 1,4-BDO, and lubricating oil additives. The rapid industrialization, rising construction activity, and expanding automotive and shipbuilding industries in countries such as China and India have a significant impact on demand. Furthermore, the favorable production landscape and cost-effective production environment support the dominant position of the Asia Pacific region in the market.
MALEIC ANHYDRIDE MARKET: COMPANY EVALUATION MATRIX
The Wanhua Chemical Group Co., Ltd. (Star) leads the maleic anhydride market due to its large-scale production capabilities and its use in applications such as unsaturated polyester resins, 1,4-butanediol, and lubricant additives. Zibo Qixiang Tengda Chemical Co., Ltd. (Emerging) continues to strengthen its position through improved production capability. The company will gain a competitive advantage in the future due to rising demand for cost-effective products.
Source: Secondary Research, Interviews with Experts, MarketsandMarkets Analysis
KEY MARKET PLAYERS
- Wanhua Chemical Group Co., Ltd.
- Huntsman International LLC
- Changzhou Yabang Chemical Co., Ltd.
- Taiyuan Qiaoyou Chemical Co., Ltd.
- PETRONAS Chemicals Group Berhad (PCG)
- Zibo Qixiang Tengda Chemical Co., Ltd.
- Gulf Advanced Chemical Industries Co., Ltd.
- Zhejiang Jiangshan Chemical Co., Ltd.
- Lanxess AG
- Polynt Group
- Shandong Hongxin Chemical Co., Ltd.
- TN Maleik Petrokimya A.S.
- Shanxi Taiming Chemical Industry Co., Ltd.
- Huanghua Hongcheng Business Corp., Ltd.
- UPC Technology Corporation
- I G Petrochemicals Limited
- PT Justus Kimiaraya
- Aekyung Chemical
- Ruse Chemicals
- China BlueStar Harbin Petrochemical Co., Ltd.
- Nippon Shokubai Co., Ltd.
- Ningbo Jiangning Chemical Co., Ltd.
- Shandong Aojin Chemical Technology Co., Ltd.
- Optimistic Organic Sdn. Bhd.
- Hengli Group Co., Ltd.
MARKET SCOPE
| REPORT METRIC | DETAILS |
|---|---|
| Market Size Value in 2025 | USD 1.84 Billion |
| Revenue Forecast in 2035 | USD 3.79 Billion |
| Growth Rate | CAGR of 7.62% from 2026 to 2035 |
| Years Considered | 2023–2035 |
| Base Year | 2025 |
| Forecast Period | 2026–2035 |
| Units Considered | Value (USD Million), Volume (Kiloton) |
| Report Coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments Covered | By Raw Material: N-Butane and Benzene By Application: UPR, 1,4-BDO, Lubricating Oil Additives, Copolymers, and Other Applications |
| Regional Scope | Asia Pacific, Europe, North America, Middle East & Africa, South America |
WHAT IS IN IT FOR YOU: MALEIC ANHYDRIDE MARKET REPORT CONTENT GUIDE
DELIVERED CUSTOMIZATIONS
We have successfully delivered the following deep-dive customizations:
| CLIENT REQUEST | CUSTOMIZATION DELIVERED | VALUE ADDS |
|---|---|---|
| Europe-based Maleic Anhydride Manufacturer |
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| Asia Pacific-based Maleic Anhydride Manufacturer |
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RECENT DEVELOPMENTS
- June 2023 : PETRONAS Chemicals Group Berhad (PCG) reached the final investment decision to acquire and upgrade a 113 KTPA maleic anhydride plant in Gebeng, Kuantan, establishing its presence in the maleic anhydride market. The project involves rejuvenating the facility to produce refined maleic anhydride by 2025, strengthening its derivatives portfolio. This investment enhances regional production capacity, supports rising demand across Asia Pacific, and improves integration with downstream applications, enabling a more stable and diversified supply.
- May 2022 : Zibo Qixiang Tengda Chemical Co., Ltd. completed and commenced operations of the Phase I 100,000 tons/year production line under its 200,000 tons/year maleic anhydride project.
- June 2022 : Petronas Chemicals Group Berhad signed an agreement to acquire a maleic anhydride plant in Gebeng, Kuantan, from BASF PETRONAS Chemicals. The company plans to rejuvenate and upgrade the previously shut-down facility to produce higher-quality output. This move strengthens its product portfolio and enhances regional production capabilities, supporting improved supply availability and broader application development across end-use industries.
- March 2021 : Zibo Qixiang Tengda Chemical Co., Ltd. announced plans to invest in the construction of an additional 200,000 tons per year maleic anhydride unit, expanding its existing capacity and strengthening its position in the maleic anhydride market.
- September 2020 : Polynt Group advanced its expansion plans by progressing the construction of a new maleic anhydride plant in Morris, Illinois. The company had completed basic design and moved into detailed engineering, permitting, and equipment procurement, while also working to secure key raw materials such as butane.
Table of Contents
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Methodology
The study involved four major activities in estimating the market size for maleic anhydride. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation procedures were used to estimate the market size of the segments and subsegments.
Secondary Research
Secondary sources used in this study included annual reports, press releases, and investor presentations of companies; white papers; certified publications; articles from recognized authors; and gold-standard and silver-standard websites, such as Factiva, ICIS, Bloomberg, and others. The findings of this study were verified through primary research, which involved conducting extensive interviews with key officials, including CEOs, VPs, directors, and other executives. The breakdown of profiles of the primary interviewees is illustrated in the figure below:
Primary Research
The maleic anhydride market comprises several stakeholders, such as raw material suppliers, end-product manufacturers, and regulatory organizations in the supply chain. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
Notes: Tier 1, Tier 2, and Tier 3 companies are classified based on their market revenue in 2024/2025, available in the public domain, product portfolios, and geographical presence.
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COMPANY NAME |
DESIGNATION |
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Lanxess AG |
Senior Manager |
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Polynt Group |
Innovation Manager |
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Wanhua Chemical Group Co., Ltd. |
Vice-President |
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Huntsman International LLC |
Production Supervisor |
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PETRONAS Chemicals Group Berhad (PCG) |
Sales Manager |
To know about the assumptions considered for the study, download the pdf brochure
Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the maleic anhydride market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry have been identified through extensive secondary research.
- The supply chain of the industry has been determined through primary and secondary research.
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
- All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain the final quantitative and qualitative data.
Data Triangulation
After determining the overall market size using the market size estimation processes explained above, the market was divided into several segments and subsegments. To complete the overall market engineering process and determine the exact statistics for each market segment and subsegment, data triangulation and market breakdown procedures were employed, as applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the maleic anhydride industry.
Market Definition
According to the American Chemistry Council, maleic anhydride is an organic compound produced primarily through the oxidation of hydrocarbons such as n-butane or benzene and is widely used as a chemical intermediate. In market terms, maleic anhydride refers to the global production and consumption of this compound for applications including unsaturated polyester resins, coatings, lubricants, and agricultural chemicals, driven by its high reactivity and versatility in polymer and specialty chemical manufacturing.
Key Stakeholders
- Maleic Anhydride Manufacturers
- Maleic Anhydride Distributors
- Raw Material Suppliers
- End-use Industries
- Government and Research Organizations
Report Objectives
- To analyze and forecast the size of the global maleic anhydride market in terms of value and volume
- To provide detailed information about the major drivers, restraints, challenges, and opportunities influencing the market growth
- To define, describe, and segment the market based on raw material, application, and region
- To forecast the size of the market segments based on regions such as Asia Pacific, North America, Europe, the Middle East & Africa, and South America
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
- To strategically analyze the segmented markets with respect to individual growth trends, prospects, and contributions to the overall market
- To identify and analyze opportunities for stakeholders in the market
- To analyze competitive developments such as mergers, acquisitions, collaborations, expansions and partnerships in the market
- To strategically profile the key companies and comprehensively analyze their core competencies
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Regional Analysis
- Further breakdown of a region with respect to a particular country or additional application
Company Information
- Detailed analysis and profiles of additional market players (up to five)
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