무수말레인산 : 시장 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the maleic anhydride market size is estimated at 3.23 million tons in 2026, and is expected to reach 3.98 million tons by 2031, at a CAGR of 4.28% during the forecast period (2026-2031).

This report is Segmented by Product Type (Unsaturated Polyester Resin, 1, 4-Butanediol, Lubricant Additives, and More), Raw Material (N-Butane and Benzene), Physical Form (Solid and Molten), End-User Industry (Construction, Automobile, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

Global Maleic Anhydride Market Trends and Insights

Surging Adoption of Recycled-PET UPR in European Construction

In response to EU Regulation 2022/1616, which mandates recycled content in plastics, and the 2024 Ecodesign Regulation, requiring digital product passports to certify circular attributes, European composite producers are taking proactive steps. They are blending post-consumer PET with maleic-anhydride-modified unsaturated polyester resin. This strategy not only helps them secure green-building credits but also enables a reduction in embodied carbon. Countries like Germany, France, and the Netherlands are leading the charge, channeling their UPR demand into these eco-friendly blends. With passport obligations set to take effect in July 2026, the adoption of these practices is poised to accelerate, solidifying maleic anhydride's pivotal role as a compatibilizer in the realm of low-carbon construction composites.

Capacity Additions of N-Butane Plants Lowering Feedstock Cost

In 2024, n-butane oxidation dominated with a commanding share of global capacity. Notably, new facilities in China and Oman, leveraging cutting-edge vanadium-phosphate and tri-leaf catalysts, are achieving high yields. These advancements not only enhance productivity but also mitigate benzene emissions, allowing these facilities to dodge EPA NESHAP compliance costs. Furthermore, feedstock dynamics tilt in favor of butane, while producers in the Asia-Pacific region paid less for butane than for benzene. This pronounced cost disparity is fueling a surge in conversions and greenfield projects across three continents, solidifying the n-butane route's competitive advantage.

Global Oversupply Driven by New Chinese Capacities

In 2024, China unveiled new capacity, spearheaded by Hengli's complex, pushing China's global output share past the 70% mark. Ex-works prices plummeted, a stark contrast to North America's spot prices, igniting a surge in exports. Meanwhile, utilization rates dipped. Western players, grappling with elevated fixed costs, began shuttering plants: Huntsman ceased operations at its Moers facility in mid-2025, and Nan Ya put its Taiwan site on hold in late 2024. In a bid to navigate these challenges, industry incumbents are now focusing on high-purity molten supplies and specialty copolymers, areas where competition from China remains limited.

Other drivers and restraints analyzed in the detailed report include:

1. Lightweight SMC Panels for EVs Boosting UPR Demand in North America
2. Rising 1,4-BDO Demand for Spandex and PBT in Asia
3. Stricter OECD Benzene-Emission Caps Raising Compliance Cost

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Unsaturated polyester resin secured 50.15% of the maleic anhydride market share in 2025 and is tracking a 4.98% CAGR to 2031, ahead of the overall market. European regulations are pushing for the use of recycled-PET blends. In North America, electric vehicle (EV) battery enclosures are utilizing maleic anhydride for each vehicle. These applications act as a buffer, shielding volumes from the cyclical downturns often seen in commodity resins. Demand for 1,4-BDO is on an annual growth trajectory, driven by investments in spandex and PBT across Asia. While the usage of lubricant additives has seen a decline as combustion engines wane, maleic anhydride copolymers are thriving. These copolymers, utilized in water treatment and bio-based packaging, are helping to mitigate the downturn in lubricants. Additionally, fumaric and malic acid derivatives are witnessing steady annual growth, primarily fueled by their use as beverage acidulants.

Specialty products, despite their lower volumes, command significant margins. For instance, bio-based succinic-acid copolymers are achieving impressive premiums in the premium packaging sector. Producers are strategically tapping into these niche markets to navigate the challenges of oversupply. Notably, Japanese research and development is making strides, focusing on the furfural-route maleic anhydride and its downstream green copolymers. This dual landscape not only solidifies unsaturated polyester's central role in the maleic anhydride market's revenue but also highlights the diversification of profit pools through its derivatives.

The n-butane route dominated 70.45% of production in 2025 and is projected to grow faster than the overall maleic anhydride market. Butane oxidation eliminates benzene emissions and captures co-product hydrogen, delivering lower cash costs and simpler permitting. BASF's tri-leaf catalyst boosts yield and reduces reactor pressure drop, translating to significant savings, especially with energy being the second-largest variable cost.

Benzene-based production, though declining in share, is forecast to grow at a 4.72% CAGR through 2031, faster than the overall market, because surviving benzene-route plants are concentrated in integrated petrochemical complexes where benzene is a low-cost byproduct of naphtha cracking and where producers have already amortized compliance investments. Surviving benzene units remain competitive only where benzene is an internal cracker by-product, for example, Huntsman's U.S. Gulf Coast sites co-located with UPR reactors. Even there, continued operation hinges on already-amortized scrubbers.

Complete Report Scope:

• By Product Type
  • Unsaturated Polyester Resin
  • 1,4-Butanediol
  • Lubricant Additives
  • Maleic Anhydride Copolymers
  • Malic Acid
  • Fumaric Acid
  • Alkyl Succinic Anhydrides
  • Surfactants and Plasticizers
  • Other Product Types
• By Raw Material
  • N-Butane
  • Benzene
• By Physical Form
  • Solid (Flake / Prill)
  • Molten
• By End-user Industry
  • Construction
  • Automobile
  • Electronics
  • Food and Beverage
  • Oil Products
  • Personal Care
  • Pharmaceuticals
  • Agriculture
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • South Africa
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific held 69.45% of global volume in 2025 and advances at a 4.66% CAGR to 2031. Hengli alone boosts China's output, but with utilization rates lingering around 70%, export pressures remain pronounced. Indian Oil's project in Panipat signals India's pivot from a 70% reliance on imports to a stride towards self-sufficiency. Meanwhile, Japan and South Korea are channeling efforts into high-purity and bio-based research and development, setting the stage for a commercial leap into furfural routes after 2028.

North America is on a growth trajectory, buoyed by EV production and USMCA content stipulations. New butane facilities in Illinois and West Virginia are dedicated to in-house resin production, and Gulf Coast benzene units operate solely where scrubbers have seen their depreciation. Selling prices in the region often surpass Chinese exports, underscoring the logistics and purity premiums commanded.

Europe, holding a share of demand, is expanding at a more tempered pace, grappling with energy-price challenges and stringent benzene-emission regulations. However, Europe's surge in recycled-PET composites and the impending rollout of digital passports provide a cushion for the maleic anhydride market against the influx of Asian imports. South America and the MEA region see strategic investments like ABP's plant in Oman, which capitalizes on affordable butane to cater to the resin markets in Africa and the Middle East that have long been underserved.

1. AOC
2. Arkema
3. Ashland
4. Bartek Ingredients Inc.
5. BASF
6. Borealis AG
7. Clariant
8. Evonik Industries AG
9. Huntsman International LLC
10. I G Petrochemicals Ltd. (IGPL)
11. INEOS AG
12. LANXESS
13. Mitsubishi Chemical Group Corporation
14. NAN YA PLASTICS CORPORATION
15. NIPPON SHOKUBAI CO., LTD.
16. PETRONAS Chemicals Group Berhad
17. Polynt S.p.A.
18. Sinopec Qilu Petrochemical
19. SK Functional Polymer
20. Thirumalai Chemicals
21. Wanhua

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Surging adoption of recycled-PET UPR in European construction
  • 4.2.2 Capacity additions of n-butane plants lowering feedstock cost
  • 4.2.3 Lightweight SMC panels for EVs boosting UPR demand in North America
  • 4.2.4 Rising 1,4-BDO demand for spandex and PBT in Asia
  • 4.2.5 Bio-based succinic-acid copolymers unlocking premium margins
• 4.3 Market Restraints
  • 4.3.1 Global oversupply driven by new Chinese capacities
  • 4.3.2 Stricter OECD benzene-emission caps raising compliance cost
  • 4.3.3 ICE phase-out curbing lube-oil-additive derivatives
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Competitive Rivalry
• 4.6 Price Trend

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Product Type
  • 5.1.1 Unsaturated Polyester Resin
  • 5.1.2 1,4-Butanediol
  • 5.1.3 Lubricant Additives
  • 5.1.4 Maleic Anhydride Copolymers
  • 5.1.5 Malic Acid
  • 5.1.6 Fumaric Acid
  • 5.1.7 Alkyl Succinic Anhydrides
  • 5.1.8 Surfactants and Plasticizers
  • 5.1.9 Other Product Types
• 5.2 By Raw Material
  • 5.2.1 N-Butane
  • 5.2.2 Benzene
• 5.3 By Physical Form
  • 5.3.1 Solid (Flake / Prill)
  • 5.3.2 Molten
• 5.4 By End-user Industry
  • 5.4.1 Construction
  • 5.4.2 Automobile
  • 5.4.3 Electronics
  • 5.4.4 Food and Beverage
  • 5.4.5 Oil Products
  • 5.4.6 Personal Care
  • 5.4.7 Pharmaceuticals
  • 5.4.8 Agriculture
• 5.5 By Geography
  • 5.5.1 Asia-Pacific
    • 5.5.1.1 China
    • 5.5.1.2 India
    • 5.5.1.3 Japan
    • 5.5.1.4 South Korea
    • 5.5.1.5 Rest of Asia-Pacific
  • 5.5.2 North America
    • 5.5.2.1 United States
    • 5.5.2.2 Canada
    • 5.5.2.3 Mexico
  • 5.5.3 Europe
    • 5.5.3.1 Germany
    • 5.5.3.2 United Kingdom
    • 5.5.3.3 France
    • 5.5.3.4 Italy
    • 5.5.3.5 Rest of Europe
  • 5.5.4 South America
    • 5.5.4.1 Brazil
    • 5.5.4.2 Argentina
    • 5.5.4.3 Rest of South America
  • 5.5.5 Middle-East and Africa
    • 5.5.5.1 Saudi Arabia
    • 5.5.5.2 South Africa
    • 5.5.5.3 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global-level Overview, Market-level Overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 AOC
  • 6.4.2 Arkema
  • 6.4.3 Ashland
  • 6.4.4 Bartek Ingredients Inc.
  • 6.4.5 BASF
  • 6.4.6 Borealis AG
  • 6.4.7 Clariant
  • 6.4.8 Evonik Industries AG
  • 6.4.9 Huntsman International LLC
  • 6.4.10 I G Petrochemicals Ltd. (IGPL)
  • 6.4.11 INEOS AG
  • 6.4.12 LANXESS
  • 6.4.13 Mitsubishi Chemical Group Corporation
  • 6.4.14 NAN YA PLASTICS CORPORATION
  • 6.4.15 NIPPON SHOKUBAI CO., LTD.
  • 6.4.16 PETRONAS Chemicals Group Berhad
  • 6.4.17 Polynt S.p.A.
  • 6.4.18 Sinopec Qilu Petrochemical
  • 6.4.19 SK Functional Polymer
  • 6.4.20 Thirumalai Chemicals
  • 6.4.21 Wanhua

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-Need Assessment
• 7.2 Commercialization of Bio-based Maleic Anhydride