India Maleic Anhydride market demand stood at 83 Thousand Tonnes in FY2021 and is forecast to reach 138.22 Thousand Tonnes by FY2030, growing at a healthy CAGR of 5.83% until FY2030. Maleic Anhydride is widely used in the manufacturing of unsaturated polyester resin used in the construction and plastic industry. Growing infrastructure and construction activities in India are expected to propel the demand for Maleic Anhydride in the coming years. Furthermore, Maleic Anhydride demand is witnessing a surge due to its use as an additive in lubricant manufacturing. Moreover, Maleic Anhydride is used to produce Copolymers, Malic Acid, Succinic Acid, and Fumaric Acid. Increasing demand for Malic Acid in the food and beverage industry as a flavoring agent and in the pharmaceutical industry as an ingredient raw material are major factors propelling the demand for Maleic Anhydride during the forecast years.
Due to the outbreak of COVID-19 in FY2020, the world economy was disrupted. The market was affected drastically, and production and manufacturing units were shut down. Furthermore, the major market players intentionally halted the production keeping their employee’s health and wellness in mind. With imposed new regulations of the COVID-19 and proper precautions, the market is anticipated to regain its growth in the years to come. The pandemic is slowly being subsided and the effects are tried to be overcome by various methods. Once the market regains the full function of its production unit, the market is bound to show robust growth in the forecast period.
In India, Maleic Anhydride is produced by Thirumalai Chemicals Ltd, I G Petrochemicals Limited. Other players operating in the India Maleic Anhydride market include Huntsman International LLC, LANXESS, etc. India is one of the major importers of Maleic Anhydride. During FY2020, in India, the import was more than 50 thousand tonnes, which is almost 32 percent higher compared to imports in FY2020. In the coming years, the demand is anticipated to increase, which will lead to a surge in its import, thereby posing a greater market opportunity for domestic players. To meet the demands, domestic players should focus on revamping their existing capacity or they should focus on setting up green-field projects.
Years Considered for this Report:
Historical Years: FY2015 – FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023– FY2030
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Objective of the Study:
- The primary objective of the study was to evaluate and forecast Maleic Anhydride capacity, production, demand, inventory, and demand–supply gap in India.
- To categorize Maleic Anhydride demand based on end-use, sales channel, and region.
- To study trade dynamics and company share in India Maleic Anhydride market.
- To evaluate and forecast Maleic Anhydride pricing in India.
- To identify and profile major companies operating in India Maleic Anhydride market.
- To identify major developments, deals, and expansion plans in the Indian Maleic Anhydride market.
Major players operating in India Maleic Anhydride market include Thirumalai Chemicals Ltd, I G Petrochemicals Limited, Huntsman International LLC, LANXESS, etc.
To extract data for the India Maleic Anhydride market, primary research surveys were conducted with Maleic Anhydride manufacturers, suppliers, distributors, wholesalers, and end-users. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for the India Maleic Anhydride market over the coming years.
ChemAnalyst calculated India Maleic Anhydride demand by analyzing the historical data and demand forecast was carried out considering LPG Prices. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc. were also used by ChemAnalyst.
Key Target Audience:
- Maleic Anhydride manufacturers, suppliers, distributors, and other stakeholders
- Organizations, forums, and alliances related to Maleic Anhydride distribution
- Government bodies such as regulating authorities and policymakers
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Maleic Anhydride manufacturers, distributors and policymakers. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.
In this report, the India Maleic Anhydride market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Market, By Type: Methyl Acrylate, Butyl Acrylate, Ethyl Acrylate, and Others
Market, by End Use: Paints & Coatings, Adhesives and Sealants, Textiles, and Others
Market, by Application: Additives, Binders, Surfactants, etc.
Market, by Sales Channel: Direct/Institutional Sales, Retail Sales, Other Channel Sales
Market, by Region: North, West, East, and South
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs.