The Maleic Anhydride Market Analysis with Various Aspects Boosting the Overall Landscape
Maleic Anhydride: Definition and Properties
Maleic Anhydride is a highly reactive chemical intermediate that has various possible applications in almost every field of industrial chemistry. It’s a cyclic dicarboxylic anhydride that is maleic acid’s cyclic Anhydride. It functions like an allergen.
It appears to be colourless white crystalline needles, flakes, pellets, rods, briquettes, lumps or a fused mass. Its respective melting and flash point is 113 °F and 218 °F, and its boiling point is 202°C. Its molecular weight is 98.06 g/mol. It has a density of 1.48 g/mL. It’s readily soluble in water. It has an acrid (irritating, choking, and offensive) odour.
Maleic Anhydride Applications Driving its Market Growth:
Maleic Anhydride is mainly used to produce unsaturated polyester resin and for manufacturing coatings, pharmaceutics, agricultural products, surfactants, and as an additive of plastics. This highly reactive chemical intermediate has potential applications in the production of various resins and plastics, petroleum additives, epoxy curing agents, hair sprays, agricultural and industrial chemicals, paper sizing, water treatment chemicals, artificial sweeteners, flavour enhancers, pharmaceuticals and copolymers.
Maleic Anhydride Production Cost Process:
From Butane via Partial Oxidation: This report presents a detailed cost analysis of maleic anhydride production from butane using the partial oxidation process. During this method, butane gets reacted with oxygen in a fluid-bed reactor in the presence of the catalyst, vanadium phosphate, after which the maleic anhydride from the reactor effluent is separated using a solvent-based recovery system, consequently making maleic anhydride.
From Benzene: This report presents a detailed cost analysis of maleic anhydride production from benzene. During the method, benzene is reacted with oxygen in the presence of catalysts, vanadium pentoxide and molybdenum trioxide in a fixed-bed reactor, after which maleic anhydride is separated from the reactor effluent via an aqueous-based recovery system, finally resulting in maleic anhydride.
Maleic Anhydride Key Market Players
- Lanxess AG- Lanxess AG (Lanxess) is a manufacturer of speciality chemicals that develops, manufactures, and markets chemical intermediates, additives, speciality chemicals and plastics. These products have wide applications across industries like, construction, automotive, agrochemicals, pharmaceuticals, aromas and flavours, electrical, tire chemicals, electronics, leather processing and water treatment.
- Huntsman Corporation- The company uses science and ingenuity to create innovations that are crucial for the everyday lives of millions of people. It works on forming a building block for numerous consumer and industrial products that enrich lives using innovation.
- MOL Group- The company is an international and integrated oil and gas company based in Budapest, Hungary, present in more than thirty countries with a dynamic international workforce of 25,000 people along with over a 100-year track record in the industry.
- Nippon Shokubai Co., Ltd- This is a chemical company that produces and markets basic and functional chemicals and catalysts; their products include acrylic acid, ethylene oxide, ethanolamine, maleic anhydride and De-NOx catalyst. They also offer super water-absorbing resins, automobile catalysts, unsaturated polyester resins, decomposition catalysts, process catalysts, resins for coating materials, and organic and inorganic particles etc.
Maleic Anhydride Price Trend Study
Recently, the market prices for Maleic Anhydride kept lowering in the US, backed by volatile prices of upstream (benzene) in the domestic market. Later, the demand outlook stayed sluggish, aligned with restricted import activities because of the COVID lockdown curbs set in China. The rate of inflation was on a more elevated scale, thus lowering the number of new orders in spite of the strong rate of the dollar. In addition, the Members of the Brotherhood of Railroad Signalmen union rejected the negotiation with officials in the US government and voted against government rules. In the end, storm Elliot led to havoc in some parts of the area, lowering the operational rate and demand from end-user industries (butanediol and coating controlling the overall Maleic Anhydride market in the North American region.
The overall maleic anhydride market dynamics in the Asia-Pacific market stayed on the lower side as the significant exporting country (China) was held down by COVID protocols, and the supply-demand chain was hindered. The drop in prices of feedstock (benzene) in the domestic market governed Maleic Anhydride’s final prices in the regional market. Festive seasons like the Chinese national holidays and Christmas breaks hampered the rate of production temporarily paired with the product’s demand. China’s CNOOC Daxie Petrochemical, located in Zhejiang, had closed down its benzene-producing plant for maintenance. Demand for Maleic Anhydride remained weak from the coating and butanediol-producing units in the regional market.
At present, the maleic anhydride market prices displayed sturdy sentiments as the suppliers got fewer queries about the product in Europe. In spite of the steady decline in prices for feedstock (benzene) from the exporting countries (South Korea), the overall maleic anhydride market prices stayed steady. The operational and demand outlook had been down amid the high rate of inflation and prices of energy. Later, there was a slight rebound in prices since the purchasing index showed marginal improvement in the regional market and euro zone business functions inclined. In the end, the prices of maleic Anhydride slightly lowered as freight costs reduced, accompanied by stockpile availability to cater to the regional demand.
According to the Maleic Anhydride blog, the industry for the chemical is being propelled by its extensive application in a range of end-user industries. The write-up includes the product’s definition with its characteristics and properties as well as its main applications that back its growing demand. The key readers can hope to gain some insight from the in-depth analysis of the product that, includes its applications, production routes, key players, and price analysis based on supply-demand movements. Thus, the various aspects covered in the post can help the key procurement strategist stay one step ahead of key market competitors providing them with a competitive edge.