Maleic Anhydride Market

The maleic anhydride market is projected to rise from USD 1.96 billion in 2026 to USD 3.79 billion by 2035, at a CAGR of 7.62%. The growth of the maleic anhydride market can be attributed to the growing demand from the end-use sectors like construction, automobiles, and agriculture, which utilize maleic anhydride in unsaturated polyester resins, coatings, and agrochemicals. Volume consumption is gaining momentum due to growing infrastructural developments and automotive production in the Asia Pacific region. In addition, the trend towards light-weighted composites and specialty chemicals is expected to boost market value growth.

The dominant strategies prevailing in the maleic anhydride market are merger & acquisitions, investments, and geographic expansion. Companies such as PETRONAS Chemicals Group Berhad (PCG) (Malaysia), Zibo Qixiang Tengda Chemical Co., Ltd. (China), and Polynt Group (Italy) emphasize global market expansion to strengthen their market presence.

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The key players profiled in the report include Wanhua Chemical Group Co., Ltd. (China),  Huntsman International LLC (US), Changzhou Yabang Chemical Co., Ltd. (China), Taiyuan Qiaoyou Chemical Co., Ltd. (China), PETRONAS Chemicals Group Berhad (PCG) (Malaysia), Zibo Qixiang Tengda Chemical Co., Ltd. (China), Gulf Advanced Chemical Industries Co., Ltd. (GACIC) (Saudi Arabia), Zhejiang Jiangshan Chemical Co., Ltd. (China), Lanxess AG (Germany), and Polynt Group (Italy). These companies have adopted several strategies to enhance their position in the market. Some of these involve introducing new products, expansions, partnerships, and mergers & acquisitions, to help expand their market share.

PETRONAS Chemicals Group Berhad (PCG) is an integrated chemicals producer involved in the manufacturing, marketing, and distribution of a diverse portfolio of petrochemical and specialty chemical products across global markets. The company operates through four key segments, namely, olefins & derivatives, fertilisers & methanol, specialty chemicals, and others. It provides maleic anhydride through its olefins & derivatives segment. The company has established a strong presence globally, with 19 manufacturing facilities and 30 manufacturing plants located in Malaysia, Asia Pacific, Europe, and North America. In June 2022, the company entered into a deal to acquire a maleic anhydride plant in Gebeng, Kuantan, from BASF PETRONAS Chemicals to improve its production capabilities.

Zibo Qixiang Tengda Chemical Co., Ltd., a subsidiary of Shandong Energy Group New Material Co., Ltd., is a petrochemical company engaged in the production and sale of chemicals and related derivatives. The company offers maleic anhydride along with other petrochemical products such as butadiene and MTBE.

It has a maleic anhydride production plant at Zibo (China), with an annual production capacity of 150,000 tons. The company has carried out a 200,000 tons annually maleic anhydride plant expansion project, which is being done in phases to enhance its production scale and capacity. In May 2022, the company successfully launched the first phase, 100,000 tons annually production facility under the 200,000 tons annually maleic anhydride project.

The global maleic anhydride market is led by the strong presence of top five players, including Wanhua Chemical Group Co., Ltd. (China),  Huntsman International LLC (US), Changzhou Yabang Chemical Co., Ltd. (China), Taiyuan Qiaoyou Chemical Co., Ltd. (China), and PETRONAS Chemicals Group Berhad (PCG) (Malaysia).With advanced technology strengths, effective supply chains, and long-standing relationships with OEMs, these market competitors facilitate market growth, innovations, and efficient production processes.

Related Reports:

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

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