PUBLISHER: KBV Research | PRODUCT CODE: 1484357
PUBLISHER: KBV Research | PRODUCT CODE: 1484357
The Latin America, Middle East and Africa Maleic Anhydride Market would witness market growth of 5.6% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 325.1 Kilo Tonnes, showcasing a growth of 3.5% (2024-2031).
N-Butane serves as a crucial raw material in the Maleic Anhydride market, playing a significant role in the production process. As one of the primary feedstocks for the catalytic oxidation of butane to Maleic Anhydride, its availability and cost have a direct impact on the profitability and competitiveness of Maleic Anhydride manufacturers. The demand for n-butane is influenced by various factors including industrial growth, energy prices, and regulatory policies. Thus, the UAE market utilized 25.95 Kilo Tonnes of n-Butane as raw material in the market in 2023.
The Brazil market dominated the LAMEA Maleic Anhydride Market by Country in 2023 and would continue to be a dominant market till 2031; thereby, achieving a market value of $122.2 million by 2031. The Argentina market is showcasing a CAGR of 6.8% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 5.3% during (2024 - 2031).
In the textiles industry, maleic anhydride-based chemicals are used as finishing agents, sizing agents, and dyeing assistants to improve the quality, performance, and appearance of fibers, fabrics, and garments. Maleic anhydride derivatives enhance adhesion, color fastness, and wrinkle resistance in textile applications. Likewise, maleic anhydride is utilized in the electronics industry to produce printed circuit boards (PCBs), encapsulants, adhesives, and coatings. Specialty resins derived from maleic anhydride offer thermal stability, flame retardancy, and electrical insulation properties, meeting the stringent requirements of electronic applications.
Additionally, the maleic anhydride market is subject to various trends that shape its growth trajectory and market dynamics. For example, with increasing environmental concerns and sustainability goals, there is a growing trend toward developing and adopting bio-based maleic anhydride derived from renewable feedstocks. Bio-based maleic anhydride offers environmental benefits and reduces dependence on fossil fuels, aligning with the circular economy principles. Manufacturers are investing in research and development to commercialize bio-based production processes for maleic anhydride.
The growth of the construction industry in Brazil may drive innovation in building materials and construction techniques that utilize maleic anhydride-based resins. Manufacturers may invest in research and development to develop advanced formulations, sustainable materials, and cost-effective solutions to meet the evolving needs of the construction sector. As per the Government of Brazil 2021, the construction sector generated R$377.8 billion in value in 2021, with R$355.8 billion in works & services and R$22.0 billion in developments (5.8%). In conclusion, the rising construction sector and expansion of the chemical industry in the region is propelling the growth of the market.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
List of Key Companies Profiled
LAMEA Maleic Anhydride Market Report Segmentation
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Application (Volume, Kilo Tonnes, USD Billion, 2020-2031)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-2031)