Maleic Anhydride Market was valued at USD 5.69 Bn in 2025 and is expected to reach USD 8.91 Bn by 2032, at a CAGR of 6.6% during a forecast period.

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Maleic anhydride is an organic compound which is the maleic acid’s anhydride. It is produced in large quantity for coating and polymer applications. Maleic anhydride is extracted from feedstock such as benzene and n-butane. N-butane is more environment-friendly and holds low production cost as compared to benzene while, benzene is more toxic and constitutes high production cost.

Maleic anhydride is used widely as there has been a change in the preference towards stronger and lighter fiberglass composite materials in construction, aerospace, automotive, and turbine industries Maleic anhydride is used in the production of unsaturated polyester resin as well as in the manufacture of coatings, pharmaceutics, agricultural products, surfactants, and as an additive of plastics.

Increasing demand for maleic anhydride-based unsaturated polyester from automobile and construction industries is a major factor anticipated to drive the growth of the global maleic anhydride market over the forecast period. However, fluctuating prices of raw materials may hamper the growth of the maleic anhydride market during the forecast period.In addition, stringent government rules and regulation is another factor that may restrain the growth of the target market. Moreover, the increasing adoption of bio-based products is an opportunity for the growth of the global maleic anhydride market over the forecast period.

Global maleic anhydride average prices were relatively stable over the last five years owing to a steady supply and demand regime and its spot prices across regions are likely to continue the downtrend on account of a fall in crude oil prices along with softening of alternate feedstock (butane) prices.

Maleic Anhydride Market Segment Analysis

Based on raw material, the n-butane segment dominated the global maleic anhydride market in 2025 and is expected to maintain its dominance during the forecast period (2026–2032). The growth of this segment is primarily attributed to its cost-effectiveness, higher yield efficiency, and relatively lower environmental impact compared to benzene-based production.

The increasing shift toward environmentally sustainable production processes, supported by stringent regulatory frameworks, has significantly accelerated the adoption of n-butane as a preferred feedstock. Additionally, the abundant availability of n-butane from natural gas and refinery streams, particularly in Asia Pacific and the Middle East, further strengthens its market position.

The benzene-based segment is expected to witness a gradual decline over the forecast period due to toxicity concerns and strict environmental regulations. Meanwhile, the bio-based segment is projected to grow at a steady pace, supported by rising investments in sustainable chemical production and green alternatives.

Based on application, the Unsaturated Polyester Resins (UPR) segment held the largest market share in 2025 and is expected to continue its dominance during the forecast period. The segment growth is driven by the increasing demand for lightweight, durable, and corrosion-resistant materials across key end-use industries such as construction, automotive, and marine.

UPR is widely utilized in the production of fiberglass-reinforced plastics (FRP), which are extensively used in applications including pipes, tanks, panels, automotive components, and marine structures. The rising adoption of electric vehicles and the growing demand for advanced composite materials further support segment growth.Other applications, including 1,4-Butanediol (BDO), lubricant additives, and copolymers, are expected to witness moderate growth. However, environmental concerns associated with certain downstream products may slightly restrain market expansion in these segments.

Maleic Anhydride Market Regional Analysis

The Asia Pacific region dominated the global maleic anhydride market in 2025 and is expected to maintain its leading position throughout the forecast period (2026–2032). The dominance of the region is attributed to rapid industrialization and strong demand from construction, automotive, and chemical industries, particularly in countries such as China, India, and Japan.

The region benefits from low production costs, easy availability of raw materials, and expanding manufacturing capabilities, which further drive market growth. Additionally, increasing infrastructure development and rising consumption of unsaturated polyester resins contribute significantly to the regional demand.

Europe accounted for the second-largest market share in 2025, supported by the presence of a well-established automotive and specialty chemicals industry. The region is also witnessing a shift toward bio-based and sustainable production technologies due to stringent environmental regulations. However, moderate industrial growth may limit the expansion rate compared to Asia Pacific.

North America is characterized as a mature market, with steady demand driven by construction, agriculture, and specialty chemical applications. The region is expected to witness moderate growth during the forecast period due to market saturation and regulatory constraints impacting certain downstream products.

Recent Industry Developments (2025–2026)

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Maleic Anhydride Market, by Region:

Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of Asia Pacific)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
South America (Brazil, Argentina and Rest of South America)
Middle East & Africa (South Africa, GCC, Egypt, Nigeria and Rest of Middle East & Africa)

Maleic Anhydride Market Key Players are:

1. Huntsman Corporation
2. BASF SE
3. LANXESS AG
4. Mitsubishi Chemical Corporation
5. Nippon Shokubai Co. Ltd.
6. INEOS Group Limited
7. Polynt-Reichhold Group
8. MOL Hungarian Oil & Gas Plc
9. Ashland Global Holdings Inc.
10. Bartek Ingredients Inc.
11. Flint Hills Resources LLC
12. Cepsa
13. Thirumalai Chemicals Ltd.
14. I G Petrochemicals Ltd.
15. Wanhua Chemical Group Co. Ltd.
16. Zibo Qixiang Tengda Chemical Co. Ltd.
17. Changzhou Yabang Chemical Co. Ltd.
18. Tianjin Bohai Chemical Industry Group Corporation
19. Nan Ya Plastics Corporation
20. Jiangyin Shunfei Chemical Co. Ltd.
21. Ningbo Jiangning Chemical Co. Ltd.
22. Helm AG
23. Merck KGaA
24. Yongsan Chemicals Inc.
25. Zhejiang Jiangshan Chemical Co. Ltd.