Maleic Anhydride Market Overview

Asia-pacific is one of the largest Maleic Anhydride producer in the world accounting for more than 80% of production capacity and 70% of the global demand. China is the biggest producer of maleic anhydride in Asia Pacific accounting for more than 75% of the global maleic anhydride production. With the increasing demand for maleic anhydride from China and other Southeast Asian countries, the Maleic Anhydride  market in Asia Pacific is poised to register a CAGR of 6% to cross 3200 kilo tons by 2034 from the current demand of around 1,400 kilo tons. In the long-term forecast, the demand growth for maleic anhydride in the region is estimated to grow on account of increased growth from UPR and other derivatives like 1, 4 butanediol, lubricating oil additives, copolymers, maleic acid, fumaric acid, and agricultural chemicals. Furthermore, as most automotive, and other downstream derivative companies are shifting their base to Asian Countries like China, India, Vietnam, and other Southeast Asian Countries, regional maleic anhydride demand will also is estimated to exhibit strong growth in the coming year.

In terms of Maleic Anhydride market by country, China dominates the regional market accounting for around 75% in 2025. The Maleic Anhydride market in China is estimated to grow at a CAGR of 6% in the forecast period to reach 2600 kilo tons by 2034. India is the second biggest maleic anhydride market in Asia Pacific accounting for around 7% of the regional market. Japan and Taiwan together account for more than 9% of the regional maleic anhydride market. In the long term forecast, India is projected to register highest CAGR of 5.2% on the back of increasing demand of  maleic anhydride from end use industries such as Construction, Automotive and others.

Asia-Pacific has been a net exporter of maleic anhydride between 2018-2024 and will continue to remain the net exporter of maleic anhydride in the long-term forecast. The region will continue to export an average of around 200 kilo tons annually in the forecast period. The utilization rates in the region averaged around 50% over last five years and in the long-term forecast the operating rates are expected to remain between 55-60%. China is one of the largest maleic anhydride exporter with an annual average exports volume of over 130 kilo tons. Exports of maleic anhydride in China has increased by 400% in 2024 in comparison to 2018 while China imports an average 1 kilo tons of maleic anhydride. Taiwan, Malaysia and South Korea are some of the other major exporter of  maleic anhydride in the region.

In Asia-Pacific, China, Japan, South Korea, Taiwan, and Malaysia are major producers and exporters of maleic anhydride. In 2018, China exported around 45 kilo tons of maleic anhydride at an average price of $950 per ton. By 2025, maleic anhydride exports from China have increased eight folds owing to the increased domestic output. India, Turkey, UAE, Egypt, Brazil, Italy, and Germany are major importers of maleic anhydride from China. Among these countries, India is the largest trade partner with average imports of around 60 kilo tons between 2021-2025. Malaysia is the second major exporter of maleic anhydride with average exports of around 30 kilo tons between 2021-2025. India, Singapore, Saudi Arabia, the Netherlands, and Turkey are major importers of maleic anhydride originating from Malaysia.

In 2022, average maleic anhydride prices per ton were around USD 1650 - USD1790  in Asia-Pacific, which is an increase of almost 70% compared to the previous year and 50% compared to 2019. One of the primary factors contributing to the increase in Maleic anhydride prices is the fluctuation in crude oil prices. The manufacturing process of maleic anhydride involves the oxidation of butane, which is a by-product of crude oil processing. Any fluctuations in crude oil prices can have a direct impact on the final cost of the product. Also, the production costs of the marginal producer are the drivers of market prices for most commodity chemicals. Changes in oil-price affect the marginal producers’ production economics and, therefore, commodity-chemical price levels. The COVID-19 pandemic is another factor that has resulted in an increase in maleic anhydride prices. The pandemic has disrupted global supply chains and caused a shortage of raw materials and shipping containers, resulting in higher transportation costs. This has led to an increase in the overall cost of production and transportation of maleic anhydride, which has been passed on to consumers through higher trade prices.