Maleic Anhydride Industry - Regional Synopsis
Asia Pacific Market Analysis
Asia Pacific (APAC) is expected to hold 34.2% of the maleic anhydride market share. The growth of industries such as construction, automotive, and consumer goods is expected to increase rapidly due to industrialization and urbanization. The revenue for the APAC market was USD 2,185.5 million in 2022 and is expected to reach USD 3,202.4 million by 2030, growing at a CAGR of 4.8%. There is growing demand for unsaturated polyester resins (UPR) and 1,4-butanediol (BDO) as they are used in the manufacturing of construction materials and automotive goods.
China is and is expected to be the leading country in the APAC maleic anhydride market due to its high industrial base growth and significant investments in infrastructure development. In 2022, China contributed around 73% of regional demand, equating to about 1,051 kilo tons. The government has pledged to invest USD 1.44 trillion into the construction sector by 2025, which is expected to further drive demand.
India maleic anhydride market is expected to expand, trending upwards due to acceleration in industrialization and further rising demand from end-use sectors such as construction and automotive. India was estimated to have a market demand of around 83 kilo tons in 2022, with an expected CAGR of 5.8% through 2037. India's reliance on imports for maleic anhydride due to little domestic production capacity indicates potential for growing the market. The government is focusing on driving growth in the chemical sector and infrastructure development to expand the economy.
Europe Market Analysis
Europe is expected to hold 20.2% of the market share throughout 2037, driven by the demand for unsaturated polyester resins (UPRs) for use in automotive, construction, and marine applications. The strict regulations instituted by the EU on environmental parameters such as REACH are driving manufacturers towards sustainable methods of production, including bio-based feedstocks.
The UK maleic anhydride market has a CAGR of 2.7% during 2024–2031, attributed to a growing awareness of sustainability from the government for the development of sustainable chemicals. Spending allocated to gallium arsenide wafer chemicals increased from 5.6% in 2020 to 8% in 2023, from the whole environmental budget, as an instance of the growing emphasis on sustainable chemical development from the government.
Germany is the leader for MA in Europe at a market value projected to be $274.4 million by 2031. In Germany's substantial investment of €2.9 billion dollars from 2019-2022 in subsidies towards industrial production for sustainable chemicals is an important measurement. For the period 2027-2036, Germany has already allocated upwards of €3.54 billion to green hydrogen imports as a continuation of its climate-neutral designs.
