The global maleic anhydride market size is projected to reach USD 4.38 billion by 2025
registering a CAGR of 6.7%, according to a new report by Grand View Research,
Inc. Maleic anhydride is used to manufacture 1,4-Butanediol (BDO), which has a
high demand from the textile industry and the manufacturers of Tetrahydrofuran
(THF) and Polyurethane (PU). 1,4-BDO is an organic compound used as an
industrial solvent & cleaner and glue remover.
It is a key raw material for manufacturing
spandex via producing polytetramethylene ether glycol. 1,4-BDO has majorly
replaced rubber in most textile applications, such as foundation garments,
girdles, suspenders, waistbands, hosiery, and socks. One of its major products,
spandex, is widely used for manufacturing stretchable clothing as it is
flexible and durable. Increasing demand for fibers with ‘memory’ and
high-quality blends that offer suppleness and comfort to leather products has
driven the demand for 1,4-BDO.
The European market is expected to witness
a steady growth owing to rising demand in end-use industries and innovation in
the lubricant sector. The thriving marine activities in the region are expected
to boost demand for marine lubricants. Growing construction sector in Eastern
Europe will further augment the demand for maleic anhydride.
Access Research Report of Maleic Anhydride Market @ www.grandviewresearch.com/industry-analysis/maleic-anhydride-market
Further key findings from the study suggest:
· Unsaturated Polyester Resin (UPR)
application segment accounted for over 50% of the overall share in 2018 owing
to increasing application scope in construction and automotive industries
· Rising THF and spandex demand for sports
apparels is anticipated to fuel the BDO segment over the forecast period
· Increasing number of global sport events,
such as Olympics and FIFA World Cup, is expected to have a positive impact on
the segment growth
· Central & South America is emerging as
a significant market. Growing demand, sufficient availability of raw material,
and increasing economic status have led major European companies to shift their
manufacturing bases to this region
· Major companies in the maleic anhydride
market include Bartek Ingredients, Baotie Hebei, Thirumalai Chemicals Limited,
Nippon Shokubai Co., Ltd., MOL Hungarian Oil and Gas PLC, BASF, and Mitsubishi
Chemicals
Grand View Research has segmented the
global maleic anhydride market on the basis of application and region.
Maleic Anhydride Application Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
·
Unsaturated Polymer Resin (UPR)
·
1-4, Butanediol (BDO)
·
Additives
·
Copolymers
·
Others
Maleic Anhydride Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2014 - 2025)
·
North America
o
U.S
o
Canada
·
Europe
o
Germany
o
France
o
Italy
o
U.K.
·
Asia Pacific
o
China
o
India
o
Japan
o
South Korea
·
Middle East & Africa
·
Central & South America
o
Brazil
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
No comments:
Post a Comment