Low Cost of Maleic Anhydrides: Fuelling the market growth
According to Goldstein Research, “Growing industrialization are creating enormous opportunities for anhydrides in different industry verticals and thereby supporting the growth of global anhydrides market. Anhydrides are used as pesticides, coatings, artificial sweeteners, polymers, resins and starch modifiers which are impelling the demand for anhydrides across the globe. However, stringent regulations over the environmental impact caused by anhydrides are likely to inhibit the market growth.”
Global Anhydrides Market Outlook 2024
Global anhydrides market is segmented on the basis of composition, product type, by applications and by end-users. Based on product type, phthalic anhydride is the dominating segment and occupied nearly 46% revenue share of total anhydrides market in 2016. A wide application such as curing of coatings and surface protection in different industry verticals such as plastics, construction, automobile, and paints & coating is expected to support the growth of the phthalic anhydride market.
Europe held a second largest share of global anhydrides market followed by North America. Europe anhydrides market valued USD 4.62 billion in 2016 and is anticipated to reach USD 8.22 billion registering a notable CAGR during the forecast period. Rising applications of phthalic anhydrides in European countries are expected to support the growth of anhydrides market in the region.
Construction and chemical applications boosting maleic anhydride market
Expanding construction application of maleic anhydrides and wide application as unsaturated polyester resins for heat-resistant pipes and tanks are gaining the huge interest of industry players. In 2014, Fuso Chemical Co Ltd. acquired maleic anhydride and fumaric acid business of Mitsui Chemicals. Cost-effectiveness and availability of raw materials for the production of maleic anhydrides are supporting the market growth across the globe.
Global Anhydrides Market
The report contains a detailed overview of the global anhydrides market in terms of market segmentation by types of composition, product type, by application and by the end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global anhydrides market also provides competitive outlook of some of the major players of global anhydrides market which includes profiling of companies such as Huntsman International LLC, LANXESS, BASF SE, Celanese Corporation, E. I. du Pont de Nemours and Company, Eastman Chemical Company, Solvay S.A., Akzo Nobel N.V, SABIC, HaiShun Chemical Co. ltd., Mitsubishi Chemical Corporation, Fuso Chemical Co Ltd., Ashland, Flint Hills Resources, Bartek Ingredients Inc., Polynt S.p.A, Zhejiang Jiangshan Chemical Co., Ltd., MOL Hungarian Oil & Gas Plc, Nippon Shokubai Co., Ltd., Changzhou Yabang Chemical Co.,Ltd., Thirumalai Chemicals Ltd., Bluestar Harbin Petrochemical Corporation, Nan-Ya Plastics, Shandong Hongxin, Koppers Industries, IG Petrochemical and ExxonMobil Chemical. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents comprehensive synopsis on the global anhydrides market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
Based in the US, Goldstein Research currently has a strong presence in the American and Asian countries. In the next five years, we strive to expand our reach to 50+ nations spanning across Europe, Asia and parts of the Middle East and Africa. We strive to realize a strong brand presence globally through our quality research and forecasting solutions.
Our mission is simple: to develop insightful business solutions, help our clients make powerful future decisions to keep them well ahead of the game which is the market, and leave a mark across businesses and communities through our well-defined ideas and clear-cut forecasts. Backed up by reliable research and impactful statistics, our business solutions empower our clients to grow at a fast pace despite unsettling fluctuations in the market. We believe in the vigorous examination of the current market scenario and build around creative ideas and approaches that are most suitable to our clients’ needs and business agenda.