The U.S. Maleic Anhydride Market size is projected to reach USD 585.5 million by 2025, according to a new report by Grand View Research, Inc., registering a 6.7% CAGR over the forecast period. Rising demand for specialty chemicals is expected to drive consumption over the forecast period.
Maleic anhydride is used in the manufacturing of a wide range of specialty chemicals such as 1,4 butanediol, fumaric and malic acids, and lubricant additives. The U.S. chemical industry is growing at a steady pace since Q1 2018. Strategic investments in the oil and gas sector have boosted the country’s chemical industry.
Expansion across various industrial sectors in the U.S. has aided the growth of specialty chemicals. Technological advancement in the automotive sector is at its peak and the average demand for lightweight vehicles is growing at a slow yet steady pace. This is expected to boost demand for specialty chemicals.
The EPA and U.S. FDA are major regulatory agencies that regulate the consumption of maleic anhydride in U.S. Major raw materials used in its manufacturing are benzene and butane. Benzene was phased out as rising price fluctuations forced manufacturers to look for alternatives. Butane, which is being used predominantly, is expected to be replaced by C-4 derivatives as the prices are becoming unstable due to crude oil and natural gas price fluctuation.
Key end-use industries include unsaturated polymer resin, fumaric, malic, maleic and succinic acids, specialty products, lubricant oil additives, agricultural chemicals, styrene copolymers. Exposure to automotive and housing markets has resulted in growth of maleic anhydride in line with the overall GDP.
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Further key findings from the report suggest:
- Unsaturated polymer resins (UPR) is the largest application segment and accounted for 55.0% of the U.S. maleic anhydride market in 2018. Rising demand for these resins in the application industries such as construction and automotive is anticipated to benefit the market in U.S.
- Solid form is the largest product segment and is projected to register an estimated CAGR of 3.4% from 2019 to 2025, from volumetric standpoint. The solid product form is widely used in the manufacturing of unsaturated polymer resins (UPR)
- Companies operating in the U.S. have started to invest significant time and effort in research and development as well as supply chain optimization in order to reduce lead time and achieve product diversification.
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Grand View Research has segmented the U.S. maleic anhydride market on the basis of product form and application:
U.S. Maleic Anhydride Product Form Outlook (Volume, Million Pounds; Revenue, USD Million, 2014 – 2025)
U.S. Maleic Anhydride Application Outlook (Volume Million Pounds; Revenue, USD Million, 2014 – 2025)
- Unsaturated Polymer Resin (UPR)
- Fumaric, Malic, Maleic & Succinic Acids
- Specialty Products (1,4 BDO)
- Lubricant Oil Additives
- Agricultural Chemicals
- Styrene Copolymers
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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