Maleic anhydride is a colorless organic chemical compound, which is produced on a large scale in the industries mainly for the application of polymers and coatings. The demand for the product is increasing at a fast pace across the globe. As per the Statista, the global production capacity of maleic anhydride was around 3.2 million metric tons in 2018. In the same year, the global export of maleic anhydride was valued more the USD 409 million, which was USD 340 million in 2017. In 2018, the world’s top exporter for maleic anhydride was the U.S., China, South Korea, Malaysia, and Italy, contributing about 60% to the global exports.
Unsaturated Polyester Resins Dominating Application Segment
The unsaturated polyester resins (UPR) segment dominates the maleic anhydride market on account of its rising demand from the emerging countries such as India, South Korea, and China. Apart from this, increasing application of resins in various industries for its high-strength fiber-based properties bolsters the segment growth. Increasing demand for maleic anhydride in the construction of residential, commercial, and non-residential buildings in countries such as South Africa, Brazil, and Saudi Arabia drives the segment growth.
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Maleic Anhydride Market: Segmentation
By Raw Material
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