CHICAGO, January 10, 2022 / PRNewswire / – According to New Market Research Report “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 2026 “, published by MarketsandMarkets ™, the maleic anhydride market is expected to reach $ 3.4 billion by 2026, at a CAGR of 4.2% of $ 2.8 billion in 2021. Maleic anhydride is an organic compound produced by the vapor phase oxidation of n-butane or benzene. It is a colorless solid with a pungent odor. Maleic anhydride acts as a chemical intermediate. It is used to make various end use products, such as unsaturated polyester resins (UPR), 1,4-BDO, lubricating oil additives and copolymers. Maleic anhydride can be derived from raw materials such as n-butane and benzene. UPR is the largest application segment of the maleic anhydride market. Asia Pacific was the largest market for maleic anhydride in 2020, in terms of value. Market growth in Asia Pacific is primarily powered by the growing building and construction and automotive industries. The growth of end-use industries, rapid industrialization, the availability of raw materials and the improvement of the standard of living of people in Asia Pacific are among the factors driving the maleic anhydride market.

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N-Butane is estimated to be the fastest growing raw material in the maleic anhydride market for the forecast period.

Maleic anhydride based on n-butane accounted for the largest share, in terms of volume and value, in 2020. This dominance is expected to continue during the forecast period, due to its strong demand from growing building and construction and automotive industries. . The n-Butane segment is expected to experience higher growth, in terms of volume and value, during the forecast period, due to strict policies and regulations on the use of benzene for maleic anhydride production.

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The use of benzene to produce maleic anhydride has declined significantly due to US EPA – 54 FR 38044 standards, which include national emission standards for hazardous air pollutants, benzene emissions from anhydride plants maleic and other reasons, such as high production cost, complex operation, and expensive process control, due to which maleic anhydride based on n-butane is used by large-scale industries

1,4-BDO was the second major application of maleic anhydride market in 2020 in the world.

Maleic Anhydride market size for 1,4-BDO was the second largest maleic anhydride share in the world after UPR, in terms of value, in 2020 this was due to demand from various industries .

1,4-BDO is a colorless and viscous liquid derived from butane by the placement of alcohol groups at each end of its molecular chain; it is one of the four stable isomers of butanediol. 1,4-BDO is used in the production of spandex fibers, urethane elastomers and copolyester ethers. It is used for the synthesis of gamma-butyrolactone (GBL). In the presence of phosphoric acid and at high temperature, it dehydrates into a tetrahydrofuran (THF) solvent. GBL is used in various industries, such as electronics, pharmaceuticals, agrochemicals and high performance polymers.

THF, polybutylene terephthalate (PBT), GBL and PU are the main products of 1,4-BDO. It can be used as a plasticizer, adhesive (in leather, polyurethane shoes and plastics), carrier solvent in printing inks and as a cleaning agent. The increase in population is expected to boost the consumption of 1,4-BDO in the textile industry, which in turn will increase the consumption of maleic anhydride in this segment.

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Asia Pacific is estimated to be the largest maleic anhydride market region in 2020.

Asia Pacific is expected to be the largest maleic anhydride market, in terms of value, in 2020 due to increased automotive production. The maleic anhydride market in the Asia Pacific is also expected to grow at the highest CAGR, in terms of value, over the forecast period. This dominance is attributed to the growth of domestic industries, increasing demand from end-use industries, and increasing use of maleic anhydride in different applications, such as agricultural chemicals and pharmaceuticals. The demand for maleic anhydride is increasing and is expected to experience higher growth in Asia Pacific and the Middle East & Africa than in other regions.

Major market players described in the report include Huntsman Corporation (US), Changzhou Yabang Chemical Co., Ltd. (China), Shanxi Qiaoyou Chemical Co., Ltd. (China), Polynt-Reichhold Group (Italy), Zibo Qixiang Tengda Chemical Co., Ltd. (China), Mitsubishi Chemical Corporation (Japan), Nippon Shokubai Co., Ltd. (Japan), LANXESS SA( Germany), Gulf Advanced Chemical Industries Co., Ltd. (Saudi Arabia), Ningbo Jiangning Chemical Co., Ltd. (China), China Bluestar Harbin Petrochemical Co, Ltd. (China), Nan Ya Plastics (Taiwan), Shijiazhuang Bailong Chemical Co., Ltd. ( China), Yongsan Chemical Co., Ltd. ( South Korea), IG Petrochemicals Ltd. ( India), MOL Plc ( Hungary), PT Justus Sakti Raya (Indonesia ), Global Ispat Koksna Industrija doo Lukavac (Bosnia and herzegovina), Tianjin Bohai Chemical Industry Group Co., Ltd. ( China), Cepsa (Spain), Ruse Chemicals (Bulgaria), Yunnan Yunwei Company Limited (China), Shanxi Taiming Chemical Industry Co., Ltd. ( China), Huanghua Hongcheng Business Corp., Ltd. (China) and Aekyung Petrochemical Co., Ltd. (South Korea).

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