Market Challenges And Opportunities

Increasing demand for glyoxylic acid from various end-use industries such as paints and coatings and food and beverages is expected to boost growth of the global maleic acid market.

Maleic acid is an industrial raw material for the production of glyoxylic acid. Increasing manufacture of artificial resins is also expected to boost growth of the market over the forecast period.

Moreover, increasing use of maleic acid in development of drugs such as carfenazine, chlorpheniramine, pyrilamine, methylergonovine, and thiethylperazine is also expected to drive the market growth. Use of maleic acid as a general adhesive and binding agent and in construction of bricks increases its demand from the construction sector.

However, maleic acid is toxic and harmful if swallowed. The compound may cause skin irritation and respiratory irritation. These factors are expected to hinder growth of the market to some extent.