Maleic Anhydride Graft Polymer Market Size, Share, Growth, and Industry Analysis, By Type (Maleic Anhydride Grafted Polyethylene, Maleic Anhydride Grafted Polypropylene, Maleic Anhydride Grafted Polystyrene & Other), By Application (Compatibilizer, Toughening Agent, Adhesive & Others) & Regional Forecast to 2029

Updated On: 11 September 2023

REPORT OVERVIEW

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The global maleic anhydride graft polymer market size is USD 1.17 billion in 2022. As per our research, the market is expected to reach USD 1.63 billion in 2029, exhibiting a CAGR of 4.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with maleic anhydride graft polymer industry experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Maleic anhydride graft polymer, commonly referred to as maleic anhydride-modified polymer or just maleic anhydride grafted polymer, is a particular type of polymer that has undergone chemical modification using maleic anhydride (MA) molecules. Usually, this modification is done to improve the polymer's qualities or increase its compatibility with other substances. The chemical molecule maleic anhydride (C4H2O3) has a cyclic structure and two carbonyl groups. It is useful for grafting onto polymer chains because of its extremely reactive double bond.

Maleic anhydride molecules react with the polymer backbone during maleic anhydride grafting. This can be accomplished using a variety of techniques, including radical, melt, and solution grafting processes. Opening the anhydride ring and forming carboxylic acid groups that can interact with the polymer chains is a crucial step. By adding functional groups (carboxylic acid groups) to the polymer through maleic anhydride grafting, additional chemical alterations or reactions are made possible.

COVID-19 Impact: Industry Shutdown Caused Market Distortion During the Pandemic

The COVID-19 outbreak had an impact on chemicals and advanced materials, causing market instability, a drop in customer confidence, and difficulties with import and export commerce. The sourcing of raw materials, packaging, and distribution are all parts of the global supply chain. Due to lockdowns, moving commodities, chemicals, and other products has become difficult. In addition to having an immediate influence on markets, supply chains, supply and demand, and all of these other things, it also had a financial impact on the markets for material.

Chemical manufacturers are concentrating on safeguarding their personnel, business processes, and supply chains to deal with this severe scenario. The pandemic altered the dynamics of the industry, compelling organizations to redesign every aspect of their operational frameworks in order to preserve stability amid the disturbances. Aside from that, the companies' business operations have been affected by the outbreak, which has an effect on the overall chemicals and advanced materials industry. This has partially impacted the maleic anhydride graft polymer industry. 

LATEST TRENDS

"Research & Development to Boost the Market Growth"

Research and development (R&D) in the maleic anhydride graft polymer industry has been ongoing to create innovative products, improve existing formulations, and explore new applications. The grafting of maleic anhydride onto various polymer backbones is being studied by scientists in an effort to produce innovative materials with distinctive characteristics. This involves experimenting with different base polymer combinations to attain particular performance attributes.

Maleic anhydride graft polymer compatibility with fillers, reinforcements, and additives is a major area of research and development. Their suitability for numerous applications, including as composites and blends, is improved as a result. One important field of R&D involves creating sustainable and more effective grafting techniques. To improve the grafting process, this entails investigating various initiators, reaction settings, and catalysts. Thus, a key trend that is opening up potential for the industry to grow is the increasing demand for research and development. These new developments are mostly to blame for the market's overall growth.

SEGMENTATION

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By Types 

Based on type, the market is classified into Ester of Maleic Anhydride Grafted Polyethylene, Maleic Anhydride Grafted Polypropylene, Maleic Anhydride Grafted Polystyrene & Other.

By Application

Based on the market is categorized into Compatibilizer, Toughening Agent,

DRIVING FACTORS

"Construction Industry that Gives the Market Extra Boost"

The strong demand for Maleic Anhydride Graft Polymer (MAGPs) in the construction industry can be attributed to their ability to enhance the performance of various construction materials. Bitumen, an important component of roofing materials, is frequently modified using MAGPs. Bitumen's strength, adaptability, and weather resistance are all enhanced with the inclusion of MAGPs, making it appropriate for roofing applications. The usage of modified bitumen roofing systems is common in both commercial and residential structures. In order to improve the performance and adherence of adhesives and sealants, graft polymers based on maleic anhydride are utilized.

These supplies are essential in building because they connect different surfaces, seal joints, and stop leaks. To enhance the qualities of concrete and mortar, MAGPs can be added to the formulations. As a result, the growth, and the growth in increasing usage in construction industry will boost the industry. It will contribute to the expansion of the chemicals & advanced materials industry and it will improve the maleic anhydride graft polymer market growth.

"Technological Advancement to Encourage Market Expansion"

The factor boosting the market is technological advancement in the market. In order to have more control over the structure and characteristics of MAGPs, researchers have been attempting to improve grafting processes. This entails improving grafting efficiency and minimizing unfavorable side effects by reaction conditions, catalysts, and initiator systems. It has been investigated to include nanotechnology and nanomaterials into MAGPs. As a result, MAGPs with improved mechanical strength, thermal stability, and other improved qualities may be created for particular applications. In line with sustainability objectives, the development of biodegradable MAGPs has attracted more attention. Maleic anhydride has been grafted onto biodegradable polymers by researchers in an effort to provide environmentally acceptable materials for a variety of sectors. As a result, these factors are collectively promoting market expansion, increasing company revenues. As a result, above mentioned factors will help the market to boost.

RESTRAINING FACTORS

"High Production Cost to Impede Market Expansion"

High production costs are the factor limiting market growth. The method of making MAGPs can be laborious and comprise numerous phases, such as grafting and polymerization. This may lead to relatively expensive production costs, which may prevent them from being widely adopted, particularly in areas where prices are sensitive. This factor is impeding market expansion. This may be a significant issue limiting market expansion. If this problem is fixed, the market will start to grow right away.

REGIONAL INSIGHTS

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"North America Dominating The Market Across The Globe Owing To The Growing Demand Of The Product"

The market for maleic anhydride graft polymer is in North America has benefited from the region's expanding industrial development, and various driving factors which has increased the potential sectors as this region is the largest user of the product. The key factor driving the growth of the maleic anhydride graft polymer market share is the growing demand of products in the compatibilizer, toughening agent & adhesive is one of the major reasons to drive the market. Rapid urbanization developments will further boost the overall market.

KEY INDUSTRY PLAYERS

"Leading Manufacturers to Boost Product Demand"

Study includes information on the market players and where they stand within the sector. Data is being collected and made available through proper research, mergers, technical advancement, growing production facilities, and cooperation. The study on materials offers details on manufacturers, regions, types, applications, sales channels, distributors, traders, dealers, research findings, and more.

List of Market Players Profiled

• Dow (U.S.)
• SK Functional Polymer (France)
• Polyscope Polymers (Netherland)
• Clariant (Switzerland)

REPORT COVERAGE

The study goes into great detail about market segmentation by type and application. The study examines a broad range of participants, including existing and potential market leaders. A considerable market expansion is anticipated as a result of several important factors. In order to provide market insights, the research additionally analyses elements that are probably to boost maleic anhydride graft polymer market share. The report makes forecasts for market expansion during the projected time period. The objective of the regional study is to explain why one region dominates the worldwide market. There are a lot of issues that have all been carefully considered that prevent the industry from growing. The research also contains a market strategic analysis. It includes thorough market information.