Global Alkenylsuccinic Anhydrides Market Overview
Alkenylsuccinic Anhydrides Market Size was estimated at 1.13 (USD Billion) in 2022. The Alkenylsuccinic Anhydrides Industry is expected to grow from 1.18(USD Billion) in 2023 to 1.7 (USD Billion) by 2032. The Alkenylsuccinic Anhydrides Market CAGR (growth rate) is expected to be around 4.17% during the forecast period (2024 - 2032).
Key Alkenylsuccinic Anhydrides Market Trends Highlighted
This is due to the increasing realization of the value of water quality as well as the necessity of good sewage treatment, which, in turn, imparts a positive effect on the stability of the alkalinity control chemicals market. Due to rapid industrial growth and urbanization, the amount of wastewater being produced is set to increase, which will, in turn, enhance the demand for these chemicals even more. Stricter environmental regulations also prohibit the disposal of wastewater without internal treatment, and these chemicals have become a necessary evil. External expansion in the market for alkalinity control chemical products lies in expansion into new customer segments and geographies with technologically smart products. Expansion in water reuse and water-saving prospects are providing new avenues for designing more effective and eco-friendly alkalinity control chemicals. Also, the increasing concern for less usage of chemicals and less generation of wastes has provided avenues for new approaches to formulating alkaline control chemicals that are environmentally friendly and can be biodegradable. As of now, several developments in the chemical controlling alkalinity marketplace involve the use of more sophisticated mechanisms like electrochemistry and ion exchange, which have been coming to the fore. This technology that enhances the performance and effectiveness of alkalinity control has taken the reduction of chemical use and impact on the environment into consideration. Automation and digitalization of simpler tasks will also allow real-time control over the alkalinity of treatment systems, as this trend appears to support the present and backward-looking nature.
Moreover, the rising application of green chemistry concepts promotes the advancement of other sustainable alkalinity-controlling agents, such as plant-derived compounds or biodegradable materials.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Alkenylsuccinic Anhydrides Market Drivers
Growing Demand for Personal Care and Cosmetics
The rising demand for personal care and cosmetic products has been a significant driver of growth in the Alkenylsuccinic Anhydrides Market Industry. Alkenylsuccinic anhydrides are widely used in the formulation of various personal care products, including skin care creams, lotions, shampoos, and conditioners, due to their ability to enhance the product's texture, stability, and performance. The increasing consumer awareness about the benefits of alkenylsuccinic anhydrides in personal care products has led to a surge in demand, which is expected to continue in the coming years.Furthermore, the growing popularity of natural and organic personal care products has further boosted the demand for alkenylsuccinic anhydrides, as they are derived from renewable resources and are considered safe and gentle for the skin. The Asia-Pacific region is a major consumer of personal care products, and the increasing disposable income and rising middle-class population in this region are expected to drive the demand for alkenylsuccinic anhydrides in the coming years.The growing demand for personal care products in emerging markets, such as China and India, is also expected to contribute to the market growth. Additionally, the increasing popularity of online shopping and e-commerce platforms has made it easier for consumers to access a wider range of personal care products, including those containing alkenylsuccinic anhydrides, which is further expected to boost market growth.
Expansion of the Food and Beverage Industry
The expansion of the food and beverage industry has been another key driver of growth in the Alkenylsuccinic Anhydrides Market Industry. Alkenylsuccinic anhydrides are used as food additives in various food and beverage products, including baked goods, processed foods, and beverages. They are used to improve the texture, stability, and shelf life of food products, which has led to their increasing adoption in the food and beverage industry. The growing population and rising disposable income worldwide have led to increased demand for processed and packaged food products, which has, in turn, boosted the demand for alkenylsuccinic anhydrides. The increasing popularity of convenience foods and ready-to-eat meals has further contributed to the growth of the food and beverage industry, and this trend is expected to continue in the coming years. The Asia-Pacific region is a major consumer of processed and packaged food products, and the growing middle-class population in this region is expected to drive the demand for alkenylsuccinic anhydrides in the coming years.
Increasing Use in Industrial Applications
The increasing application of alkenylsuccinic anhydrides in the industrial sector is driving the growth of the Alkenylsuccinic Anhydrides Market Industry. For industrial applications, alkenylsuccinic anhydrides are used to produce adhesives, coatings, and plastics. The properties of the product improve the performance and durability of the aforementioned applications. The growth rate of industrial applications is higher due to its tremendous and increased deployment.Therefore, the growth rate of the industrial applications sector is expected to increase rapidly during the projected period. The requirement for adhesives and coatings in the automotive, construction, and packaging industries is also expected to fuel the demand for alkenylsuccinic anhydrides in the future. In addition, the consumption of alkenylsuccinic anhydrides in the production of plastics, such as polyesters and polyurethanes, is estimated to increase, which may boost investment in the Alkenylsuccinic Anhydrides Market Industry.
Alkenylsuccinic Anhydrides Market Segment Insights
Alkenylsuccinic Anhydrides Market Application Insights
The Alkenylsuccinic Anhydrides Market segmentation by application provides valuable insights into the diverse uses of these chemicals across various industries. The major applications of Alkenylsuccinic Anhydrides include Automotive: Alkenylsuccinic Anhydrides are widely used in the production of automotive components due to their excellent performance in high-temperature and high-stress environments. They are utilized in the formulation of adhesives, sealants, and coatings, which provide exceptional durability and resistance to chemicals and solvents.The increasing demand for lightweight and fuel-efficient vehicles is expected to drive the growth of the Alkenylsuccinic Anhydrides market in the automotive sector. Construction: Alkenylsuccinic Anhydrides find significant applications in the construction industry, particularly in the production of cement additives and concrete admixtures. They enhance the strength, durability, and water resistance of concrete, making them ideal for use in infrastructure projects, buildings, and other construction applications. The growing construction industry, especially in emerging economies, is anticipated to fuel the demand for Alkenylsuccinic Anhydrides in this segment.Electronics: The electronics industry utilizes Alkenylsuccinic Anhydrides as a key component in the manufacturing of printed circuit boards (PCBs) and other electronic components. These chemicals act as adhesion promoters, improving the bonding strength between different materials and ensuring the reliability of electronic devices. The rising demand for smartphones, laptops, and other electronic gadgets is projected to drive the growth of the Alkenylsuccinic Anhydrides market in the electronics segment. Paints and Coatings: Alkenylsuccinic Anhydrides are extensively used in the formulation of paints and coatings, providing excellent adhesion, flexibility, and resistance to corrosion and chemicals.They are commonly found in industrial coatings, marine coatings, and automotive finishes. The increasing demand for high-performance coatings in various industries is expected to boost the consumption of Alkenylsuccinic Anhydrides in this application segment. Pharmaceuticals: Alkenylsuccinic Anhydrides have gained importance in the pharmaceutical industry as intermediates in the synthesis of active pharmaceutical ingredients (APIs). They are utilized in the production of drugs for the treatment of various diseases, including cardiovascular disorders, diabetes, and cancer.The growing demand for innovative and effective pharmaceuticals is projected to drive the growth of the Alkenylsuccinic Anhydrides market in this segment. In summary, the Alkenylsuccinic Anhydrides Market is driven by the increasing demand for high-performance chemicals in diverse industries, including automotive, construction, electronics, paints and coatings, and pharmaceuticals. The market growth is fueled by the growing demand for lightweight vehicles, durable construction materials, reliable electronic components, high-performance coatings, and innovative pharmaceuticals.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Alkenylsuccinic Anhydrides Market Type Insights
The Alkenylsuccinic Anhydrides Market is bifurcated by Type into C10-C14 Alkenylsuccinic Anhydrides, C16-C22 Alkenylsuccinic Anhydrides, and C24+ Alkenylsuccinic Anhydrides. The C16-C22 Alkenylsuccinic Anhydrides segment is anticipated to gain substantial traction during the forecast period and is likely to acquire the majority of revenue with over 45% market share in 2023 for the Alkenylsuccinic Anhydrides Market. The C16-C22 Alkenylsuccinic Anhydrides Market’s overwhelming revenue will be exceptionally due to the substantial use of the range in the production of personal care and hygiene-oriented products, including conditions, shampoos, and soaps.The C10-C14 Alkenylsuccinic Anhydrides is presumed to be the fastest-growing segment in the forecast timeframe. The Alkenylsuccinic Anhydrides Market is anticipated to grow steadily during the forecast period due to the burgeoning demand in a plethora of industries, including personal care, automobile, and industrial.
Alkenylsuccinic Anhydrides Market End Use Insights
The Alkenylsuccinic Anhydrides Market segmentation by End Use includes Industrial and Consumer. In 2023, the Industrial segment held the largest market share of 65.2%, and it is expected to continue to dominate the market throughout the forecast period. The growth of the Industrial segment can be attributed to the increasing use of Alkenylsuccinic Anhydrides in various industrial applications, such as oilfield chemicals, lubricants, and plastics. The Consumer segment is also expected to grow at a steady pace during the forecast period due to the rising demand for personal care products and cosmetics.
Alkenylsuccinic Anhydrides Market Distribution Channel Insights
The Alkenylsuccinic Anhydrides Market segmentation by Distribution Channel includes Direct Sales, Distributors, and Online Platforms. Direct Sales accounted for the largest share of the Alkenylsuccinic Anhydrides Market in 2023. Direct Sales involve manufacturers selling their products directly to end-users through company-owned stores or websites. This channel provides better control over product quality, pricing, and customer relationships. Distributors play a significant role in reaching a wider customer base and ensuring efficient product distribution.Online Platforms have gained prominence in recent years, offering convenience and a wider product selection for customers. The Alkenylsuccinic Anhydrides Market revenue through online platforms is projected to grow significantly in the coming years, driven by increasing internet penetration and the rise of e-commerce. The choice of distribution channel depends on factors such as product type, target market, and geographical reach.
Alkenylsuccinic Anhydrides Market Sustainability Insights
The Alkenylsuccinic Anhydrides Market Segmentation by Sustainability includes Bio-based Alkenylsuccinic Anhydrides and Recyclable Alkenylsuccinic Anhydrides. Bio-based Alkenylsuccinic Anhydrides are derived from renewable resources, such as plant-based oils, and offer a sustainable alternative to traditional Alkenylsuccinic Anhydrides. Recyclable Alkenylsuccinic Anhydrides are designed to be reused or recycled, reducing waste and promoting circular economy practices. The growing demand for sustainable and environmentally friendly products is driving the growth of these segments.By 2025, the Bio-based Alkenylsuccinic Anhydrides segment is projected to reach USD 450 million, while the Recyclable Alkenylsuccinic Anhydrides segment is expected to reach USD 380 million, contributing significantly to the overall Alkenylsuccinic Anhydrides Market revenue.
Alkenylsuccinic Anhydrides Market Regional Insights
The Alkenylsuccinic Anhydrides Market segmentation can be done based on regional analysis that includes North America, Europe, APAC, South America, and MEA. The North American region is expected to dominate the Alkenylsuccinic Anhydrides Market owing to the presence of major manufacturers and high demand from the construction industry. The APAC region is projected to be the fastest-growing market during the forecast period. The growing construction industry in countries such as China and India are expected to drive the demand for Alkenylsuccinic Anhydrides in the region.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
Alkenylsuccinic Anhydrides Market Key Players and Competitive Insights
Major players in the Alkenylsuccinic Anhydrides Market industry are constantly striving to gain a competitive edge by investing in research and development, expanding their product portfolios, and forming strategic partnerships. Leading Alkenylsuccinic Anhydrides Market players are focusing on developing innovative products that cater to the evolving needs of customers. The Alkenylsuccinic Anhydrides Market is characterized by the presence of both established and emerging players, who are vying for market share through various strategies such as product differentiation, cost optimization, and geographical expansion. The competitive landscape is expected to remain dynamic in the coming years, with new entrants and mergers and acquisitions shaping the market dynamics. Alkenylsuccinic Anhydrides Market development is being driven by increasing demand from end-use industries such as paints and coatings, adhesives and sealants, and personal care products.A leading company in the Alkenylsuccinic Anhydrides Market is Evonik Industries. Evonik has a strong presence and offers a wide range of alkenylsuccinic anhydrides products. The company has invested heavily in research and development, and its products are known for their high quality and performance. Evonik is also committed to sustainability, and its products are produced in a responsible and environmentally friendly manner.A competitor company in the Alkenylsuccinic Anhydrides Market is Ashland. Ashland is a leading manufacturer of specialty chemicals, including alkenylsuccinic anhydrides. The company has a strong focus on innovation and customer service, and its products are used in a wide range of applications. Ashland is also committed to sustainability, and its products are produced in a responsible and environmentally friendly manner.
Key Companies in the Alkenylsuccinic Anhydrides Market Include
- Ashland
- Momentive Performance Materials
- Lubrizol
- Polynt
- Croda International
- Evonik
- Resinate Materials Group
- Sartomer
- Vantage Specialty Chemicals
- Kraton Polymers
- INEOS
- BASF
- Milliken Company
- Dow Chemical
- Clariant
Alkenylsuccinic Anhydrides Market Industry Developments
The Alkenylsuccinic Anhydrides market is projected to reach USD 1.7 billion by 2032, exhibiting a CAGR of 4.17% during the forecast period. Rising demand for alkenylsuccinic anhydrides in various industries, including paints and coatings, adhesives, and personal care, is driving the market growth.Recent news developments include BASF's launch of a new line of alkenylsuccinic anhydrides for use in high-performance coatings and Evonik's expansion of its production capacity for alkenylsuccinic anhydrides in response to increasing demand. These developments indicate the growing importance of alkenylsuccinic anhydrides in various industries and the potential for continued market growth in the coming years.
Alkenylsuccinic Anhydrides Market Segmentation Insights
Alkenylsuccinic Anhydrides Market Application Outlook
- Automotive
- Construction
- Electronics
- Paints and Coatings
- Pharmaceuticals
Alkenylsuccinic Anhydrides Market Type Outlook
- C10-C14 Alkenylsuccinic Anhydrides
- C16-C22 Alkenylsuccinic Anhydrides
- C24+ Alkenylsuccinic Anhydrides
Alkenylsuccinic Anhydrides Market End Use Outlook
Alkenylsuccinic Anhydrides Market Distribution Channel Outlook
- Direct Sales
- Distributors
- Online Platforms
Alkenylsuccinic Anhydrides Market Sustainability Outlook
- Bio-based Alkenylsuccinic Anhydrides
- Recyclable Alkenylsuccinic Anhydrides
Alkenylsuccinic Anhydrides Market Regional Outlook
- North America
- Europe
- South America
- Asia Pacific
- Middle East and Africa
| Report Attribute/Metric |
Details |
| Market Size 2022 |
1.13(USD Billion) |
| Market Size 2023 |
1.18(USD Billion) |
| Market Size 2032 |
1.7(USD Billion) |
| Compound Annual Growth Rate (CAGR) |
4.17% (2024 - 2032) |
| Report Coverage |
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Base Year |
2023 |
| Market Forecast Period |
2024 - 2032 |
| Historical Data |
2019 - 2023 |
| Market Forecast Units |
USD Billion |
| Key Companies Profiled |
Ashland, Momentive Performance Materials, Lubrizol, Polynt, Croda International, Evonik, Resinate Materials Group, Sartomer, Vantage Specialty Chemicals, Kraton Polymers, INEOS, BASF, Milliken Company, Dow Chemical, Clariant |
| Segments Covered |
Application, Type, End Use, Distribution Channel, Sustainability, Regional |
| Key Market Opportunities |
Increased demand in oil field chemicals Growing personal care and cosmetics industry Rising use in adhesives and sealants Expanding automotive industry Technological advancements in manufacturing |
| Key Market Dynamics |
Rising demand from personal care, increasing use in paints and coatings, growing consumption in food and beverages, technological advancements in the production process, expanding applications in adhesives and sealants |
| Countries Covered |
North America, Europe, APAC, South America, MEA |
Frequently Asked Questions (FAQ) :
The Alkenylsuccinic Anhydrides Market was valued at around USD 1.18 billion in 2023 and is projected to reach USD 1.7 billion by 2032, growing at a CAGR of 4.17% during the forecast period.
North America region is expected to dominate the market over the forecast period due to increasing demand from the automotive and construction industries.
Major applications of Alkenylsuccinic Anhydrides include being used as a comonomer in the production of oilfield chemicals, detergents, dispersants, and personal care products.
Key competitors in the Alkenylsuccinic Anhydrides Market include Evonik Industries, BASF, Stepan Company, Elementis, and Perstorp.
Growth in the automotive and construction industries, increasing demand for eco-friendly products, and technological advancements are driving the market growth.
Fluctuating raw material prices, intense competition, and environmental regulations pose challenges to market growth.
The Alkenylsuccinic Anhydrides Market is expected to grow at a CAGR of 4.17% during the forecast period from 2024 to 2032.
The Alkenylsuccinic Anhydrides Market is projected to reach USD 1.7 billion by 2032.
The oilfield chemicals segment is expected to hold the largest market share due to the increasing demand for drilling fluids and other oilfield chemicals.
The COVID-19 pandemic had a negative impact on the market due to disruptions in supply chains and decreased demand from the automotive and construction industries. However, the market is expected to recover as economic activities resume.
