India - Maleic Anhydride - Market Analysis, Forecast, Size, Trends And Insights
Maleic Anhydride Price Rises to $1,152 per Ton
India Maleic Anhydride Import Price in November 2022
In November 2022, the maleic anhydride price amounted to $1,152 per ton (CIF, India), rising by 2.4% against the previous month. Over the period under review, the import price, however, continues to indicate a deep reduction. The pace of growth was the most pronounced in April 2022 an increase of 6.6% against the previous month. Over the period under review, average import prices hit record highs at $2,464 per ton in January 2022; however, from February 2022 to November 2022, import prices stood at a somewhat lower figure.
Average prices varied noticeably amongst the major supplying countries. In November 2022, the highest price was recorded for prices from South Korea ($1,197 per ton) and Malaysia ($1,189 per ton), while the price for Russia ($1,059 per ton) and Taiwan (Chinese) ($1,107 per ton) were amongst the lowest.
From January 2022 to November 2022, the most notable rate of growth in terms of prices was attained by Russia (+8.4%), while the prices for the other major suppliers experienced a decline.
India Maleic Anhydride Imports
In November 2022, maleic anhydride imports into India reduced dramatically to 3.6K tons, with a decrease of -43% on the month before. Overall, imports continue to indicate a noticeable contraction. The pace of growth appeared the most rapid in October 2022 with an increase of 95% m-o-m. Imports peaked at 12K tons in July 2022; however, from August 2022 to November 2022, imports stood at a somewhat lower figure.
In value terms, maleic anhydride imports contracted dramatically to $4.2M (IndexBox estimates) in November 2022. Over the period under review, imports saw a abrupt decrease. The growth pace was the most rapid in October 2022 with an increase of 80% m-o-m. Imports peaked at 21K tons in April 2022; however, from May 2022 to November 2022, imports failed to regain momentum.
India Maleic Anhydride Imports by Country
Malaysia (1.4K tons), China (975 tons) and Taiwan (Chinese) (891 tons) were the main suppliers of maleic anhydride imports to India, together accounting for 89% of total imports.
From January 2022 to November 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +2.9%), while imports for the other leaders experienced more modest paces of growth.
In value terms, Malaysia ($1.6M), China ($1.1M) and Taiwan (Chinese) ($986K) were the largest maleic anhydride suppliers to India, with a combined 89% share of total imports.
Taiwan (Chinese), with a CAGR of -4.7%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Maleic Anhydride Market Overview
Maleic anhydride is a highly reactive organic compound, which is mainly used as a precursor for the production of unsaturated polyesters, alkyd resins, and plasticizers. It is also used as an intermediate in the manufacturing process of several chemicals such as fumaric acid, maleic acid, and tetrahydrophthalic anhydride (THPA). Additionally, it finds application as an antioxidant in food & beverage packaging and as an additive in lubricants.
The growing demand for unsaturated polyester resin (UPR) from the construction and automotive industries is one of the major factors driving the growth of the maleic anhydride market in India. The growing demand for UPRs in these end-use industries is expected to drive the growth of the maleic anhydride market in India during the forecast period.
This report provides an in-depth analysis of the maleic anhydride market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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