LONDON--(BUSINESS WIRE)--The global maleic anhydride market is expected to post a CAGR of more than 7% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Many market vendors are shifting their manufacturing activities to developing countries such as India, China, Brazil, Mexico, and Indonesia. This is due to several factors such as easy availability of raw materials, low-cost labor, low transportation costs, and lenient government regulations and policies. In addition, the strong growth of the automobile industry in APAC has significantly increased the demand for maleic anhydride. Moreover, the emergence of China and India as manufacturing hubs of several industries including automobile and metal and machining sectors is expected to fuel the growth of the global maleic anhydride market.
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As per Technavio, the stringent automotive fuel standards will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Maleic Anhydride Market: Stringent Automobile Fuel Emission Standards
Maleic Anhydride Styrene Copolymers (MSC) are widely used as fuel additives in the production of hydraulic fuels and automatic transmission fluids due to their low-temperature fluidity, shear stability, and low varnish deposits. With the growing stringency of regulations pertaining to fuel emissions in countries such as the US, Germany, the UK, and Canada, the use of maleic anhydride in the automobile industry will increase significantly during the forecast period.
“Growing demand resulting in rise in production of functional polymers and an increase in demand for alkyd resins are other factors that will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Maleic Anhydride Market: Segmentation Analysis
This market report segments the global maleic anhydride market by application (unsaturated polyester resin, 1,4-BDO, additives, and others), raw material (benzene and n-butane), and geography (the Americas, APAC, and EMEA).
The APAC region led the market in 2018, followed by the Americas and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the market. This is due to the growing demand for maleic anhydride from industries such as construction, automobile, marine, and textiles in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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