Maleic Anhydride Market 2030: What Will Be Changes In Investment Ratio With Opportunity Analysis??Posted by Mrudula Anil Karmarkar on December 14th, 2023 San Francisco, 14 December 2023: The ReportMaleic Anhydride MarketSize, Share & Trends Analysis Report By Application (Unsaturated Polyester Resins, 1,4-Butanediol, Copolymers, Additives), By Region (Asia Pacific, North America, Europe), And Segment Forecasts, 2023 - 2030 The global maleic anhydride market size is expected to reach USD 5.86 billion by 2030,registering a CAGR of 4.2% over the forecast period, as per the new report by Grand View Research, Inc. The industry growth is majorly driven by the rising demand for unsaturated polyester resins (UPR) in the global construction industry coupled with the flourishing automotive industry which is a major end use industry for the product market. UPR possesses excellent resistance to chemicals, corrosion, abrasion, and heat, superior structural strength, excellent compressive strength, and high impact strength. Thus, it is widely used in the construction industry as concrete and sealant. In addition to the aforementioned properties, UPR is extensively used as a coating owing to its excellent aesthetic appeal. Moreover, as these composites can be pigmented without losing their structural properties, the demand for these composites is on the rise, and the trend is expected to continue over the forecast period. According to Global Construction Perspectives and Oxford Economics, the global construction market is expected to reach USD 8 trillion by 2030, driven by the U.S., China, and India. Thus, the growth of the global construction industry, coupled with an increasing demand for UPR composites, coatings, and mortars, is expected to drive the growth of the UPR market over the predicted timeframe which in turn will drive the demand for maleic anhydride. N-butane and benzene are the primary feedstock used to manufacture maleic anhydride. Globally, the prices of benzene and n-butane depend on the price trend of crude oil and naphtha. Volatility in crude oil prices has been the major reason for the high fluctuation in benzene prices. Crude oil pricing and downstream demand highly influence the global petroleum derivatives industry. The growth for the product market is attributed to the increasing demand for unsaturated polyester resins (UPR), which is the prime component used in fiberglass reinforced resins, which is further used in automotive & marine applications and in construction products like sinks, countertops, and tubs. Unsaturated polymer resins are widely used as body fillers for rapid reconstruction and repair of damaged parts of a vehicle. In addition, they also function as putty for car painting in the automobile industry. The application of UPR gives a smooth surface to the vehicle by removing any traces of damage. Furthermore, it also provides good adhesion to paint, thereby increasing the lifespan of the applied coat. UPR is widely used for bumpers, roofs, doors, and interiors to repair damage caused during accidents. Thus, the growing rate of car accidents on a global level is expected to propel the demand for UPR which in turn will drive the demand for maleic anhydride over the forecast period. Request sample report of Maleic Anhydride Market@https://www.grandviewresearch.com/industry-analysis/maleic-anhydride-market/request/rs1 The U.S. is the largest consumer of the product in North America with a revenue share of 82.9% in 2022. This is attributed to the expanding agricultural, automotive, and construction industries in the country. According to the Construction Association, the construction industry in the U.S. contributed around USD 959 billion, accounting for 4.5% of the country’s total GDP with 872,000 construction establishments in 2021. Furthermore, the country constructs structures worth over USD 1.8 trillion each year. These factors are expected to contribute to the growth of the product market in the U.S. Maleic Anhydride Market Report Highlights
Unsaturated polyester resins (UPR) in application segment dominated the market with a revenue share of 50.1% in 2022.This growth is attributed to the fact that unsaturated polymer resin is one of the most popular thermostat polymers utilized as a matrix in various application industries such as aerospace and construction. Unsaturated polymer resin possesses excellent resistance to abrasion, corrosion, chemicals, and heat; superior structural strength; high impact strength; and excellent compressive strength along with environment-friendly characteristics, which makes it an excellent choice for application in the marine, construction, transport, wind energy, and electrical industries. Maleic Anhydride Market Report Scope
1,4-butanediol (BDO) is another application anticipated to witness fastest growth over the forecast period. 1, 4-butanediol (BDO) is manufactured from maleic anhydride by Davy Process Technology (DPT). BDO is further used as an intermediate chemical to produce polybutylene terephthalate (PBT), polytetramethylene ether glycol (PTMEG), tetrahydrofuran (THF), gamma-butyrolactone (GBL), and polyurethane (PU). These chemicals are used in engineering plastics, medicines, fibers, cosmetics, pesticides, artificial leather, hardeners, solvents, plasticizers, and rust removers. List of Key Players in Maleic Anhydride Market
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