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Maleic Anhydride Market growth will be fueled by increasing demand in the personal care product by 2024

Author : Ronak Bora | Published Date : 2019-03-28 

Global Market Insights, Inc. adds new Maleic Anhydride Market report which provides in-depth information about Industry overview, top vendors, Key market highlights, product types, drivers, challenges, trends, industry landscape, size and forecast.

Rise in income and increasing consumer spending on personal care product has led to robust market growth. Global personal care market expected to grow at over 5% by 2024. In order to attract consumer from different economies FMCG industry is introducing products at different price range. Maleic anhydride removes dead skin and accelerate wound healing process, thus used in skin care lotions and ointments. It forms a base for formulation of anti-precipitant and covers sweat pores eventually prevents sweat passage.

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Hectic lifestyle and rise in living standards has driven global packaged food & beverage market. Maleic anhydride converts to fumaric and maleic acid and acts as a flavour enhancer in beverages. It prevents microbial and fungal growth and commonly used preservative in food industry. Food & beverage industry may witness a steady growth of over 4% and may stimulate maleic anhydride demand.

Maleic Anhydride Market size may have steady growth over forecasted timeframe owing to positive application outlook in copolymers, adhesives and unsaturated polyester resin (UPR).

Maleic anhydride is manufactured from butane or benzene by oxidation process. Benzene is available at higher cost than butane, which makes butane favourable raw material. Butane oxidation takes place in fluidised or fixed bed reactor.

It is an essential raw material for unsaturated polyester resin (UPR) production. UPR possess good mechanical strength and light in weight thus substitutes metals application in bathroom fixtures, furniture and construction industry. It has excellent flexural, thermal, morphological and mechanical properties and makes it common construction material for automotive parts, wind energy plant, marine vessel and tank manufacturing. It offers corrosion resistance and used in paints & coatings production. Global unsaturated polyester resin market estimated to surpass USD 13 trillion by 2024. Increasing UPR market should have positive influence on maleic anhydride market size.

North America, driven by Canada and the U.S. maleic anhydride market size may show high growth owing to rise in oil & gas industry accompanied with rapid industrialization. Growing concern towards toxic emission and strict regulatory compliances has promoted fuel additive bending in fuels which is likely to drive regional growth.

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Europe driven by UK, France & Germany maleic anhydride market size may show significant gains. stringent government regulation pertaining to pollutant may have positive influence on product demand. Developed automotive sector and increasing demand for fuel-efficient car may drive regional industry growth.

Global maleic anhydride market share is fragmented. Key players are Lanxess, Huntsman, Bartek, Nippon Shokubai, Polynt, Flint Hills, Sasol, MOL Hungarian, Changzhou Yabang, Thirumalai, Zhejiang Jianghshan Chemicals and Mitsubishi Chemicals and Bluestar Harbing petrolchemicals.

 

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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