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In 2004, worldwide maleic anhydride capacity totaled 1,635 thousand metric tons, of which 54% was in Asia, 20% was in Western Europe, and 16% was in North America. This is a change from fourteen years ago, when Asia had 24% of the total world capacity. Capacity buildup in the Republic of Korea, Taiwan and China has contributed to the shift in capacity distribution. Western Europe has lost considerable capacity market share since 2001 when Polioli in Italy left the business and others scaled back production because of increased raw material costs and weak demand for butanediol derivatives in the region.
The following graph shows world supply/demand for maleic anhydride as a percentage of the world total:
In most regions, consumption closely parallels production. Trade represents just over 10% of production in the producing countries. In most regions of the world, the largest market for maleic anhydride is unsaturated polyester resins. Demand for unsaturated polyester resins is influenced by the health of the construction industry and overall state of the economy.
Nearly 50% of all maleic anhydride consumed in 2004 was for the production of unsaturated polyester resins. There is little regional variation except for maleic anhydride consumed for 1,4-butanediol (all in Other Asia). Unsaturated polyester resins will continue to have the largest market share and will drive maleic anhydride consumption on a global scale. Overall economic health will affect the unsaturated polyester resin market, as it is tied to the construction, automotive and marine industries. Maleic anhydride consumption for 1,4-butanediol will grow primarily in Other Asia.
In North America, maleic anhydride consumption is forecast to grow at 2–3% annually between 2004 and 2009. This is in contrast to developing markets, such as Central/Eastern Europe and Central/South America (where consumption in both regions is forecast to grow annually at 3.6% and 4.2%, respectively, albeit from a smaller base), and Southeast Asia, where consumption is expected to grow at 4.5%. Overall, world maleic anhydride consumption is forecast to grow at an average annual rate of 3.1% during 2004–2009.
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