PUBLISHER: KBV Research | PRODUCT CODE: 1484352
PUBLISHER: KBV Research | PRODUCT CODE: 1484352
Asia Pacific Maleic Anhydride Market Size, Share & Trends Analysis Report By Raw Material (N-Butane and Benzene), By Application, By Country and Growth Forecast, 2024 - 2031
The Asia Pacific Maleic Anhydride Market would witness market growth of 4.2% CAGR during the forecast period (2024-2031). In the year 2022, the Asia Pacific market's volume surged to 1584.4 Kilo Tonnes, showcasing a growth of 19.2% (2020-2023).
Benzene serves as a critical raw material in the production of Maleic Anhydride, playing a foundational role in the chemical synthesis process. Maleic Anhydride is primarily manufactured through the oxidation of benzene or n-butane, with the former being the more widely utilized route due to its cost-effectiveness and efficiency. In the production process, benzene undergoes catalytic oxidation, typically using a vanadium oxide catalyst, to yield Maleic Anhydride. Thus, the Japan market used 72.45 Kilo Tonnes of benzene as raw material in the market in 2023.
The China market dominated the Asia Pacific Maleic Anhydride Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $754.5 million by 2031. The India market is registering a CAGR of 4.7% during (2024 - 2031). Additionally, The Japan market would showcase a CAGR of 3.3% during (2024 - 2031).
The adoption of maleic anhydride spans various end-use industries, each leveraging its unique properties for different applications. For instance, the chemical industry is one of the primary consumers of maleic anhydride, utilizing it as a precursor in producing various downstream chemicals and materials. Maleic anhydride is a building block for synthesizing unsaturated polyester resins (UPRs), alkyd resins, maleic acid, fumaric acid, and 1,4-butanediol (BDO). The growing chemical industry translates into higher demand for maleic anhydride. For instance, according to the National Investment Promotion & Facilitation Agency, the market size of India's chemicals & petrochemicals sector is around $215 Bn. It is expected to grow to $300 Bn by 2025.
Moreover, in the automotive industry, maleic anhydride produces fiberglass-reinforced plastics (FRP) for components such as body panels, bumpers, and interior trim. UPRs derived from maleic anhydride offer high strength, durability, and corrosion resistance, making them suitable for automotive applications. Furthermore, maleic anhydride-based materials, such as UPRs and alkyd resins, are utilized in the construction industry for applications such as composite panels, laminates, coatings, adhesives, and sealants. These materials provide structural integrity, weather resistance, and aesthetic appeal to architectural and infrastructure projects.
China has emerged as a leading producer of maleic anhydride, with numerous chemical companies investing in the expansion of production capacity to meet domestic demand and cater to export markets. The expansion of the chemical industry in China has led to the establishment of new maleic anhydride manufacturing facilities and the retrofitting of existing plants with advanced technologies to enhance production efficiency and output. As per the State Council of the People's Republic of China, in 2022, the investment in chemical raw materials and product manufacturing jumped 19 percent year on year, 7.4 percentage points higher than the average level of all industries. Therefore, the growing chemical industry and rising packaging sector in the region drive the market's growth.
Based on Raw Material, the market is segmented into N-Butane and Benzene. Based on Application, the market is segmented into Unsaturated Polyester Resins (UPR), 1,4-butanediol (BDO), Lubricating Oil Additives, Copolymers and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
- Huntsman Corporation
- Mitsubishi Chemical Holdings Corporation
- Lanxess AG
- Nan Ya Plastics Corp. (NPC)
- Nippon Shokubai Co., Ltd.
- IG Petrochemicals Limited (IGPL)
- China National BlueStar (Group) Co, Ltd. (China National Chemical Corporation)
- Yongsan Chemical Co., Ltd.
- Aekyung Chemical Co., Ltd. (AK Holdings Co., Ltd.)
- Ningbo Jiangning Chemical Co., Ltd. (Zhejiang Jiangshan Chemical Co., Ltd.)
Asia Pacific Maleic Anhydride Market Report Segmentation
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- N-Butane
- Benzene
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- Unsaturated Polyester Resins (UPR)
- 1,4-butanediol (BDO)
- Lubricating Oil Additives
- Copolymers
- Others
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1.Market Scope & Methodology
- 1.1Market Definition
- 1.2Objectives
- 1.3Market Scope
- 1.4Segmentation
- 1.4.1Asia Pacific Maleic Anhydride Market, by Raw Material
- 1.4.2Asia Pacific Maleic Anhydride Market, by Application
- 1.4.3Asia Pacific Maleic Anhydride Market, by Country
- 1.5Methodology for the research
Chapter 2.Market at a Glance
- 2.1Key Highlights
Chapter 3.Market Overview
- 3.1Introduction
- 3.1.1Overview
- 3.1.1.1Market Composition and Scenario
- 3.1.1Overview
- 3.2Key Factors Impacting the Market
- 3.2.1Market Drivers
- 3.2.2Market Restraints
- 3.2.3Market Opportunities
- 3.2.4Market Challenges
- 3.3Porter's Five Forces Analysis
Chapter 5.Asia Pacific Maleic Anhydride Market by Raw Material
- 5.1Asia Pacific N-Butane Market by Country
- 5.2Asia Pacific Benzene Market by Country
Chapter 6.Asia Pacific Maleic Anhydride Market by Application
- 6.1Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country
- 6.2Asia Pacific 1,4-butanediol (BDO) Market by Country
- 6.3Asia Pacific Lubricating Oil Additives Market by Country
- 6.4Asia Pacific Copolymers Market by Country
- 6.5Asia Pacific Others Market by Country
Chapter 7.Asia Pacific Maleic Anhydride Market by Country
- 7.1China Maleic Anhydride Market
- 7.1.1China Maleic Anhydride Market by Raw Material
- 7.1.2China Maleic Anhydride Market by Application
- 7.2India Maleic Anhydride Market
- 7.2.1India Maleic Anhydride Market by Raw Material
- 7.2.2India Maleic Anhydride Market by Application
- 7.3Japan Maleic Anhydride Market
- 7.3.1Japan Maleic Anhydride Market by Raw Material
- 7.3.2Japan Maleic Anhydride Market by Application
- 7.4South Korea Maleic Anhydride Market
- 7.4.1South Korea Maleic Anhydride Market by Raw Material
- 7.4.2South Korea Maleic Anhydride Market by Application
- 7.5Singapore Maleic Anhydride Market
- 7.5.1Singapore Maleic Anhydride Market by Raw Material
- 7.5.2Singapore Maleic Anhydride Market by Application
- 7.6Malaysia Maleic Anhydride Market
- 7.6.1Malaysia Maleic Anhydride Market by Raw Material
- 7.6.2Malaysia Maleic Anhydride Market by Application
- 7.7Rest of Asia Pacific Maleic Anhydride Market
- 7.7.1Rest of Asia Pacific Maleic Anhydride Market by Raw Material
- 7.7.2Rest of Asia Pacific Maleic Anhydride Market by Application
Chapter 8.Company Profiles
- 8.1Huntsman Corporation
- 8.1.1Company Overview
- 8.1.2Financial Analysis
- 8.1.3Segment and Regional Analysis
- 8.1.4Research & Development Expense
- 8.1.5SWOT Analysis
- 8.2Mitsubishi Chemical Holdings Corporation
- 8.2.1Company Overview
- 8.2.2Financial Analysis
- 8.2.3Segmental Analysis
- 8.2.4Research & Development Expense
- 8.2.5SWOT Analysis
- 8.3Lanxess AG
- 8.3.1Company Overview
- 8.3.2Financial Analysis
- 8.3.3Segmental and Regional Analysis
- 8.3.4Research & Development Expenses
- 8.3.5SWOT Analysis
- 8.4Nan Ya Plastics Corp. (NPC)
- 8.4.1Company Overview
- 8.4.2Financial Analysis
- 8.4.3Segmental and Regional Analysis
- 8.4.4SWOT Analysis
- 8.5Nippon Shokubai Co., Ltd.
- 8.5.1Company Overview
- 8.5.2Financial Analysis
- 8.5.3Segmental and Regional Analysis
- 8.5.4Recent strategies and developments:
- 8.5.4.1Business Expansions:
- 8.5.5SWOT Analysis
- 8.6IG Petrochemicals Limited (IGPL)
- 8.6.1Company Overview
- 8.6.2Financial Analysis
- 8.6.3Regional Analysis
- 8.6.4Research & Development Expenses
- 8.6.5SWOT Analysis
- 8.7China National BlueStar (Group) Co, Ltd. (China National Chemical Corporation)
- 8.7.1Company Overview
- 8.7.2SWOT Analysis
- 8.8Yongsan Chemical Co., Ltd.
- 8.8.1Company Overview
- 8.8.2SWOT Analysis
- 8.9Aekyung Chemical Co., Ltd. (AK Holdings Co., Ltd.)
- 8.9.1Company Overview
- 8.9.2Financial Analysis
- 8.9.3SWOT Analysis
- 8.10.Ningbo Jiangning Chemical Co., Ltd. (Zhejiang Jiangshan Chemical Co., Ltd.)
- 8.10.1Company Overview
- 8.10.2SWOT Analysis
LIST OF TABLES
- TABLE 1Asia Pacific Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 2Asia Pacific Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 3Asia Pacific Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 4Asia Pacific Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 5Asia Pacific Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 6Asia Pacific Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 7Asia Pacific Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 8Asia Pacific Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 9Asia Pacific N-Butane Market by Country, 2020 - 2023, USD Million
- TABLE 10Asia Pacific N-Butane Market by Country, 2024 - 2031, USD Million
- TABLE 11Asia Pacific N-Butane Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 12Asia Pacific N-Butane Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 13Asia Pacific Benzene Market by Country, 2020 - 2023, USD Million
- TABLE 14Asia Pacific Benzene Market by Country, 2024 - 2031, USD Million
- TABLE 15Asia Pacific Benzene Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 16Asia Pacific Benzene Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 17Asia Pacific Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 18Asia Pacific Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 19Asia Pacific Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 20Asia Pacific Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 21Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country, 2020 - 2023, USD Million
- TABLE 22Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country, 2024 - 2031, USD Million
- TABLE 23Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 24Asia Pacific Unsaturated Polyester Resins (UPR) Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 25Asia Pacific 1,4-butanediol (BDO) Market by Country, 2020 - 2023, USD Million
- TABLE 26Asia Pacific 1,4-butanediol (BDO) Market by Country, 2024 - 2031, USD Million
- TABLE 27Asia Pacific 1,4-butanediol (BDO) Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 28Asia Pacific 1,4-butanediol (BDO) Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 29Asia Pacific Lubricating Oil Additives Market by Country, 2020 - 2023, USD Million
- TABLE 30Asia Pacific Lubricating Oil Additives Market by Country, 2024 - 2031, USD Million
- TABLE 31Asia Pacific Lubricating Oil Additives Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 32Asia Pacific Lubricating Oil Additives Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 33Asia Pacific Copolymers Market by Country, 2020 - 2023, USD Million
- TABLE 34Asia Pacific Copolymers Market by Country, 2024 - 2031, USD Million
- TABLE 35Asia Pacific Copolymers Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 36Asia Pacific Copolymers Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 37Asia Pacific Others Market by Country, 2020 - 2023, USD Million
- TABLE 38Asia Pacific Others Market by Country, 2024 - 2031, USD Million
- TABLE 39Asia Pacific Others Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 40Asia Pacific Others Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 41Asia Pacific Maleic Anhydride Market by Country, 2020 - 2023, USD Million
- TABLE 42Asia Pacific Maleic Anhydride Market by Country, 2024 - 2031, USD Million
- TABLE 43Asia Pacific Maleic Anhydride Market by Country, 2020 - 2023, Kilo Tonnes
- TABLE 44Asia Pacific Maleic Anhydride Market by Country, 2024 - 2031, Kilo Tonnes
- TABLE 45China Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 46China Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 47China Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 48China Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 49China Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 50China Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 51China Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 52China Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 53China Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 54China Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 55China Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 56China Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 57India Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 58India Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 59India Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 60India Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 61India Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 62India Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 63India Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 64India Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 65India Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 66India Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 67India Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 68India Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 69Japan Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 70Japan Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 71Japan Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 72Japan Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 73Japan Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 74Japan Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 75Japan Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 76Japan Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 77Japan Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 78Japan Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 79Japan Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 80Japan Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 81South Korea Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 82South Korea Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 83South Korea Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 84South Korea Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 85South Korea Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 86South Korea Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 87South Korea Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 88South Korea Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 89South Korea Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 90South Korea Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 91South Korea Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 92South Korea Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 93Singapore Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 94Singapore Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 95Singapore Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 96Singapore Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 97Singapore Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 98Singapore Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 99Singapore Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 100Singapore Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 101Singapore Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 102Singapore Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 103Singapore Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 104Singapore Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 105Malaysia Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 106Malaysia Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 107Malaysia Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 108Malaysia Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 109Malaysia Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 110Malaysia Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 111Malaysia Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 112Malaysia Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 113Malaysia Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 114Malaysia Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 115Malaysia Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 116Malaysia Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 117Rest of Asia Pacific Maleic Anhydride Market, 2020 - 2023, USD Million
- TABLE 118Rest of Asia Pacific Maleic Anhydride Market, 2024 - 2031, USD Million
- TABLE 119Rest of Asia Pacific Maleic Anhydride Market, 2020 - 2023, Kilo Tonnes
- TABLE 120Rest of Asia Pacific Maleic Anhydride Market, 2024 - 2031, Kilo Tonnes
- TABLE 121Rest of Asia Pacific Maleic Anhydride Market by Raw Material, 2020 - 2023, USD Million
- TABLE 122Rest of Asia Pacific Maleic Anhydride Market by Raw Material, 2024 - 2031, USD Million
- TABLE 123Rest of Asia Pacific Maleic Anhydride Market by Raw Material, 2020 - 2023, Kilo Tonnes
- TABLE 124Rest of Asia Pacific Maleic Anhydride Market by Raw Material, 2024 - 2031, Kilo Tonnes
- TABLE 125Rest of Asia Pacific Maleic Anhydride Market by Application, 2020 - 2023, USD Million
- TABLE 126Rest of Asia Pacific Maleic Anhydride Market by Application, 2024 - 2031, USD Million
- TABLE 127Rest of Asia Pacific Maleic Anhydride Market by Application, 2020 - 2023, Kilo Tonnes
- TABLE 128Rest of Asia Pacific Maleic Anhydride Market by Application, 2024 - 2031, Kilo Tonnes
- TABLE 129key Information - Huntsman Corporation
- TABLE 130Key Information - MITSUBISHI CHEMICAL HOLDINGS CORPORATION
- TABLE 131Key Information - Lanxess AG
- TABLE 132Key Information - Nan Ya Plastics Corp. (NPC)
- TABLE 133Key Information - Nippon Shokubai Co., Ltd.
- TABLE 134Key Information - IG Petrochemicals Limited (IGPL)
- TABLE 135Key Information - China National BlueStar (Group) Co, Ltd.
- TABLE 136Key Information -Yongsan Chemical Co., Ltd.
- TABLE 137Key Information - Aekyung Chemical Co., Ltd.
- TABLE 138Key Information - Ningbo Jiangning Chemical Co., Ltd.
