About this market
Growing demand resulting in rise in production of functional polymers to drive growth in the market. These functional polymers are used in filled, toughened, and blended compounds for applications such as adhesives, pipe coatings, and wires, and cables among others. The analysts have predicted that the maleic anhydride market will register a CAGR of over 7% by 2023.
Market Overview
Increase in demand from developing countries
The growth of the maleic anhydride market can be attributed to the strong contributions from developing economies such as India, China, Brazil, Mexico, and Indonesia.
Stringent regulations and policies
Stringent policies laid by regulatory bodies such as USEPA and the EU’s registration, on the use of maleic anhydride will likely to dampen demand for this organic compound.
For the detailed list of factors that will drive and challenge the growth of the maleic anhydride market during the 2019-2023, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Huntsman International and LANXESS the competitive environment is quite intense. Factors such as the growing demand resulting in rise in production of functional polymers and the rising demand from developing countries, will provide considerable growth opportunities to maleic anhydride manufactures. Ashland, Huntsman International, LANXESS, Mitsubishi Chemical Holdings, Polynt, and Zibo Qixiangtengda Chemical are some of the major companies covered in this report.