Maleic Anhydride Market Size, Share & Trends Report

Maleic Anhydride Market Size, Share & Trends Analysis Report By Application (Unsaturated Polyester Resins, 1,4-Butanediol, Copolymers, Additives), By Region (Asia Pacific, North America, Europe), And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-191-7
  • Number of Pages: 91
  • Format: Electronic (PDF)

Research Methodology

A three-pronged approach was followed for deducing the maleic anhydride market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for maleic anhydride market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of maleic anhydride market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Maleic Anhydride Market Categorization:

The maleic anhydride market was categorized into two segments, namely application (Unsaturated Polyester Resins, 1,4-Butanediol, Additives, Copolymers), and regions (North America, Europe, Asia Pacific, Central & South America , Middle East & Africa).

Segment Market Methodology:

The maleic anhydride market was segmented into application, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The maleic anhydride market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Central & South America , and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into eleven countries, namely, the U.S.; Canada; Germany; the UK.; France; Italy; China; India; Japan; South Korea; Brazil.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Maleic anhydride market companies & financials:

The maleic anhydride market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Cepsa - Cepsa is a multifaceted company with operations spanning across various sectors such as petrochemicals, petroleum & natural gas, refining, and the transportation and sale of crude oil and its derivatives. The company’s product portfolio is diverse, encompassing gas oils & fuel oils, lubricants, marine & aviation fuels, asphalt, chemicals and bases, and paraffin. Cepsa has a global presence with regional offices and manufacturing facilities in numerous countries including Canada, Algeria, Colombia, Brazil, Peru, Portugal, and Panama. Its products are sold worldwide. The company’s chemical business segment operates manufacturing facilities in Spain, Canada, and Brazil. Under its chemical division, CEPSA Quimica, the company offers maleic anhydride and its derivatives. Cepsa produces phthalic and maleic anhydride at the Gibraltar refinery and supplies these products in both solid and molten forms.

  • INEOS - INEOS is a global chemicals manufacturing company comprising 36 business units with 194 sites in 29 countries across the world. The company caters to chemicals, polymers, oil & gas industries, and end-use industries such as automotive, construction, textiles, and agriculture. The INEOS Group operates through three segments, namely olefins & polymers Europe, olefins & polymers USA, and Chemical Intermediates.

  • Huntsman International LLC - Huntsman Corporation is an advanced material solutions provider and operates in various segments, including polyurethanes, performance products, advanced materials, and textile effects. It offers its products to a range of companies operating in plastics, textiles, automotive, aviation, construction, paints & coatings, healthcare, footwear, agriculture, and packaging sectors. The company manufactures and supplies maleic anhydride under its performance products business segment.

  • Lanxess A.G. - Lanxess A.G., a specialty chemicals company based in Germany, was established as a separate entity from Bayer A.G.'s chemical and polymer operations. The company’s activities encompass the production and distribution of additives, chemical intermediates, plastics, and specialty chemicals. It operates through three key business segments: performance polymers, advanced intermediates, and performance chemicals. The company serves various business units, including high-performance materials, advanced industrial intermediates, leather, inorganic pigments, material protection products, liquid purification technologies, saltigo, rhein chemie, and urethane systems. With 73 manufacturing facilities worldwide and a business presence in 25 countries, Lanxess A.G. has a global footprint. Under the advanced intermediates business segment, the company produces maleic anhydride and its derivatives. It has advanced intermediates manufacturing facilities in Germany, Belgium, the U.S., China, and India. These facilities cater to a broad spectrum of application sectors such as agrochemicals, automotive, construction, pharmaceuticals, coatings, and tire chemicals.

  • Mitsubishi Chemical Corporation - Mitsubishi Chemical Corporation is a provider of performance products and industrial materials. The company is a subsidiary of Mitsubishi Chemical Holdings Corporation (MCHC), an investment holding group based in Japan. The company operates through three domains, namely performance products, industrial materials, and other businesses. The company has regional offices and overseas subsidiaries located in the US, Germany, Hong Kong, Singapore, and China.

  • MOL Hungarian Oil & Gas Plc - MOL Group, commonly referred to as The Hungarian Oil & Gas Company Plc, is an integrated energy company in central Europe. The company’s core operations include upstream, downstream, petrochemicals, midstream, wholesale, retail, and R&D, with a presence in more than 30 countries worldwide. Maleic anhydride is manufactured by the group’s chemicals division and is distributed in molten as well as solid forms. The company’s maleic anhydride manufacturing plant is in Szazhalombatta, Hungary, and has a capacity of more than 20,000 TPA.

  • NIPPON SHOKUBAI CO., LTD. - NIPPON SHOKUBAI CO., LTD. is a company that operates globally in the chemical manufacturing industry. It has a functional chemical division that produces polymers for concrete mixtures, resins for paints and processed adhesive products, and acrylates for detergents. The company’s basic chemical division provides ethylene-oxide and ethylene glycol, which are used in plastic beverage containers and polyester fibers. The functional chemicals division is the main source of the company’s revenue. NIPPON SHOKUBAI CO., LTD. caters to a variety of industries, including building & construction, inks & coatings, water treatment, electronics, mobility, life science, energy storage, and oil & gas. The company has a global presence with subsidiaries in the US, Indonesia, Singapore, Belgium, and China. Under its functional chemicals business segment, the company produces maleic anhydride and its derivatives.

  • Polynt Group - Polynt Group specializes in the production, sales, and R&D of chemical intermediates, organic hydrides, and their derivatives. It specializes in chemicals, resins, intermediates, special additives, compounds, plasticizers, gel coats, catalysts, composites, vinyl-ester resins, bonding pastes, unsaturated polyester resins, SPP, GPP, carbon fiber, malic acid, and bonding pastes. The company has two production units for maleic anhydride in Northern Italy with production capacities of 36,000 and 60,000 tons per annum.

  • Thirumalai Chemicals Ltd. - Thirumalai Chemicals Ltd. started with the production of phthalic anhydride, although its current product portfolio comprises maleic anhydride, fumaric acid, malic acid, and fine chemicals & derivatives. Its products cater to industries ranging from construction, food & beverage, pharmaceuticals, lubricants, agriculture, co-polymers, paints & coatings, chemical intermediates, plastic, dyes, polyesters, textiles, and industrial applications. The company’s maleic anhydride production facility was set up in 1985 with a total capacity of 10,000 TPA.

  • Jiangyin Shunfei - Jiangyin Shunfei deals in the Shunfei brand, diacid anhydride, butylenes, and its derivatives. The company’s main products include maleic anhydride and fumaric acid. It uses computer-controlled equipment to ensure reliable quality and steady process. The company’s products are used in over 100 types of special chemicals, organic intermediates, and lower-rich fine chemicals.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Maleic Anhydride Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Maleic Anhydride Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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