The global maleic acid market size is expected to witness potential gains in the future, and register a significant CAGR of 5.8% over the forecast period (2019 - 2027).
Maleic acid is an organic compound used in making polyesters for fiber-reinforced laminated moldings and paint vehicles. It is found naturally in sour cherries, cacao, corn, ginseng, and tobacco leaves. It is soluble in water and alcohol. Maleic acid is majorly used as a precursor to fumaric acid and relative to its parent maleic anhydride and in manufacturing of synthetic resins, in textile processing, and in preserving oils and fats.
Increasing demand for glyoxylic acid from various end-use industries such as paints and coatings and food and beverages is expected to boost growth of the global maleic acid market.
Maleic acid is an industrial raw material for the production of glyoxylic acid. Increasing manufacture of artificial resins is also expected to boost growth of the market over the forecast period.
Moreover, increasing use of maleic acid in development of drugs such as carfenazine, chlorpheniramine, pyrilamine, methylergonovine, and thiethylperazine is also expected to drive the market growth. Use of maleic acid as a general adhesive and binding agent and in construction of bricks increases its demand from the construction sector.
However, maleic acid is toxic and harmful if swallowed. The compound may cause skin irritation and respiratory irritation. These factors are expected to hinder growth of the market to some extent.
On the basis of region, the global maleic acid market is segmented into North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. Asia Pacific market is expected to hold dominant position over the forecast period. This is owing to increasing demand for unsaturated polyester resins in the lubricant and automotive industry. High production of maleic acid in China and its increasing demand from the polyester resin industry is also expected to contribute to the market share of Asia Pacific. Unsaturated polyester resins is used in the production of sheet molding compounds, bulk molding compounds and fiberglass reinforced plastics. Therefore, the market in Europe is mainly driven by growing automobiles and ship manufacturing industries.
Major players operating in the global maleic acid market include, Life Chemicals, VladaChem, VWR, Part of Avantor, Acros Organics, Alichem, Achemtek, Syntree, Sigma-Aldrich, MolPort, ChemShuttle, AHH Chemical Co., Ltd., Glentham Life Sciences Ltd., and LGC Standards.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.