Global Maleic Acid Market is Predicted to Grow in the Future, with a High CAGR of 5.8% Expected Over the Forecast Period (2019 - 2027)

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Maleic Acid
Maleic Acid

Overview of the Market

Maleic acid is an organic chemical that is used in the production of polyesters for fibre-reinforced laminated mouldings and car paint. Sour cherries, cacao, corn, ginseng, and tobacco leaves all contain it naturally. It is water and alcohol soluble. Maleic acid is primarily employed as a precursor to fumaric acid, as well as in the manufacture of synthetic resins, textile processing, and the preservation of oils and fats.

Market Trends

The global Maleic Acid Market is predicted to increase due to rising demand for glyoxylic acid from various end-use sectors such as paints and coatings and food and beverages. Glyoxylic acid is made from maleic acid, which is an industrial raw material. Over the forecast period, increased production of artificial resins is expected to enhance the market growth.

Maleic acid's rising use in the development of pharmaceuticals including carfenazine, chlorpheniramine, pyrilamine, methylergonovine, and thiethylperazine is also predicted to propel the industry forward. Maleic acid's use as a general adhesive and binding agent, as well as in the manufacture of bricks, has increased its demand in the building industry. If consumed, however, Maleic Acid Market is poisonous and dangerous. The substance has the potential to irritate the skin and the lungs. These factors are projected to hamper market expansion to some extent.

Market Outlook

The global Maleic Acid Market is divided into five regions: North America, Latin America, Asia Pacific, Europe, the Middle East, and Africa. Over the projection period, the Asia Pacific market is expected to maintain its dominance. The need for unsaturated polyester resins in the lubricant and automotive industries is growing. Maleic acid's high output in China and rising demand from the polyester resin industry are also predicted to boost Asia Pacific's market share. Sheet moulding compounds, bulk moulding compounds, and fibreglass reinforced plastics are all made with unsaturated polyester resins. As a result, the European market is primarily driven by the rising automobile and shipbuilding industries.

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