Global maleic
anhydride market is expected to reach USD 5.67 billion by 2020.
Increasing construction spending, particularly in Asia Pacific, coupled with
positive outlook on global automotive industry is expected to drive global
market growth. Volatile raw material supply, including n-butane and benzene, is
expected to remain a key challenge for industry participants over the next five
years.
View
summary of this report @ http://www.grandviewresearch.com/industry-analysis/maleic-anhydride-market
Further
key findings from the study suggest:
·
Majority of maleic anhydride produced globally
goes into production of unsaturated polyester resins (UPR), accounting for over
48% of total demand in 2013. Growing marine industry coupled with increasing
fiber-reinforced polymers (FRP) application scope in construction is expected
to provide growth avenues for the UPR industry. BDO is the most attractive
application segment for maleic anhydride and is expected to witness the fastest
growth in terms of consumption over the forecast period.
·
In 2013, the global maleic anhydride market
volume was 1,869.9 kilo tons. Companies have been eyeing a huge market
potential for manufacturing BDO using maleic anhydride on account of growing
tetrahydrofuran (THF) demand particularly in Asia Pacific and Middle East. BDO
market is thus expected to be the fastest growing application segment, at an
estimated CAGR of 7.2% from 2014 to 2020.
·
Asia Pacific emerged as the leading regional
market for maleic anhydride and accounted for over 55% of total market volume
in 2013. In addition, it is also the largest producer of maleic anhydride which
has been a major factor for the growth of domestic market. The region is
expected to witness the fastest growth in product demand over the forecast
period owing to significant requirement of UPR and BDO in construction and
automotive industries.
·
North America maleic anhydride industry is
primarily driven by the recovery of housing and boating industries particularly
in the U.S. Increasing construction spending in Mexico is also expected to
contribute to the regional market growth. Latin America is expected to project
significant growth over the forecast period owing to increasing penetration of
lubricant additives and copolymers markets.
·
Global maleic anhydride market is highly
fragmented with top 5 companies accounting for less than 50% of the global
demand. Major companies operating in the industry include Huntsman, DSM NV,
Yabang Jiangsu, Nippon Shokubai Co Ltd, Polynt SpA, Ashland Chemical Co,
Lanxess AG and Flint Hills Resources.
Browse All Reports of
this category @ http://www.grandviewresearch.com/industry/plastics-polymers-and-resins
No comments:
Post a Comment