Maleic anhydride production technology is gradually maturing and China has excess production capacity

The full name of maleic anhydride is maleic anhydride and maleic anhydride. Its chemical formula is C4H2O3. It appears as needle-like white crystals at room temperature and has a distinct pungent odor. It is flammable, easily soluble in water, and easy to sublime. It is a kind of Very important fine chemicals and organic chemical raw materials. After years of development, the application fields of maleic anhydride have gradually broadened, and it is mostly used in the production of unsaturated polyester resin (UPR). It is also the core chemical raw material for the production of papermaking additives, tartaric acid, ink additives, medicines, coatings, lubricant additives and other products.

At this stage, the production process of maleic anhydride in my country can be roughly divided into n-butane oxidation method, phthalic anhydride recovery method, C4 olefin method, benzene oxidation method, etc. Among them, n-butane oxidation and benzene oxidation are the most widely used maleic anhydride production methods. The benzene oxidation method is the earliest maleic anhydride production process. This method has relatively mature production technology and many types of optional catalysts, but it has shortcomings such as high cost and high pollution. As my country’s environmental protection requirements become increasingly strict, and the emerging n-butane oxidation technology gradually matures, which has the advantages of high cost performance and green environmental protection, n-butane oxidation gradually replaces benzene oxidation. At present, the n-butane oxidation method accounts for 87.6% of my country’s overall maleic anhydride production capacity.

From the perspective of the downstream market of maleic anhydride, unsaturated polyester resin has become the largest application field, accounting for 44.7% of the overall maleic anhydride consumption. At present, unsaturated polyester resins in my country can be roughly divided into general resins, flame retardant resins, flexible resins, isophthalate resins, special resins, dicyclopentadiene (DCPD) resins, and phthalate resins. wait. Among them, dicyclopentadiene (DCPD) resin, isophthalate resin, and phthalate resin are the most important application products of maleic anhydride. Due to the impact of the real estate market, the market demand for unsaturated polyester resin has gradually shrunk, and its market size has shown a downward trend. In 2022, my country’s unsaturated polyester resin market size will drop to 28.745 billion yuan, a year-on-year decrease of 0.5%.

According to the “my country Maleic Anhydride Industry Market Survey Research Report 2023-2027” released by the Industrial Research Center, with the environmental protection requirements of our country Gradually stricter, emerging production technologies are gradually applied, and maleic anhydride production capacity is gradually increased. In 2022, my country’s maleic anhydride production capacity will reach 1.472 million tons, and the production capacity growth rate will reach 12.3%. However, due to the gradual shrinking of the downstream market demand for maleic anhydride in my country, serious overcapacity has occurred in the maleic anhydride market in my country.

Industry analysts said that at present, my country’s largest maleic anhydride production companies mainly include Qixiang Tengda, Dewei Chemical, and HSBC Petrochemical, Huadong Chemical, Huaxin Chemical, Luyang Chemical, Yabang Chemical, Yizheng Chemical Fiber, etc. In addition, there are many small and medium-sized maleic anhydride production companies in my country’s maleic anhydride market. Such companies have small production scales and relatively backward production equipment. As my country’s large-scale maleic anhydride production enterprises gradually expand and continuously improve production processes, backward production equipment is gradually eliminated, and the living space of small and medium-sized enterprises is gradually reduced. Its market concentration is expected to continue to increase in the future.