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Neopentyl Glycol Market Size, Trends - Industry Growth Report 2018 – 2023

09-05-2018 11:37 AM CET | Industry, Real Estate & Construction

Press release from: Market Research Future

Neopentyl Glycol Market | Increasing penetration of Neopentyl as a base resin for coatings across the globe

Neopentyl Glycol Market | Increasing penetration of Neopentyl as a base resin for coatings across the globe

The Global Neopentyl Glycol Market is segmented by Type, Application, End-Use Industries and Region.

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Neopentyl Glycol is available in various types including flakes, molten, and slurry. The type to be used is determined on the basis of the conditions specified for manufacturing and application. The molten type Neopentyl Glycol is used in saturated polyesters, unsaturated polyesters, and esters for powder coatings, gel coats, and reinforced plastics, and synthetic lubricants respectively. The molten form is leading the market due to its wide consumption for manufacturing powder coatings, which emit less VOC. The slurry or suspension form is 90% Neopentyl Glycol by weight in water and is transported at a temperature ranging from 50–70ºC. The slurry form allows rapid esterification and high chemical & thermal stability. The Neopentyl Glycol flake is shipped at below 30ºC to prevent cake formation.

The application segment includes coatings, adhesives & sealants, insulation, plasticizers, fibers, agrochemicals, fuel additives, dyes, emollient, and others. Among these applications, the coatings emerged as the leading segment due to high demand from construction, automotive, aerospace, shipbuilding, and other industries. This can be attributed to the corrosion resistant nature and high thermal stability of Neopentyl Glycol. The demand for Neopentyl Glycol based adhesives & sealants is increasing due to their durability, stability, moisture & chemical resistance, and heat-resistant properties. Moreover, its usage in automotive insulation and agrochemicals is another factor propelling the product demand.

On the Basis of the End-Use Industries, the market is segmented into paints & coatings, automotive, construction, chemicals, plastics, textiles, pharmaceuticals, cosmetics & personal care, and others. The paints industry is dominating the market owing to its use for applications such as powder coating, can & coil coating. The product is highly consumed for the manufacturing of adhesives & sealants and additives used in construction and automotive, which is expected to drive the market growth further. Also, it is used as a dye in the textile industry, which is likely to augment its demand over the review period. Growing opportunities for the product in pharmaceuticals such as the production of ibuprofen drug for generic diseases are likely to propel the market growth. The increasing penetration of personal care products as skin-conditioner and viscosity increasing agent is projected to augment the market growth over the assessment period.

Competitive Analysis

Some of the manufacturers operating in the Global Neopentyl Glycol Market are BASF SE (Germany), Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), and Shandong Dongchen New Technology Co,Ltd. (China).

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Regional Analysis

Regionally, the Global Neopentyl Glycol Market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia Pacific was leading the Global Neopentyl Glycol Market in 2017 on account of the high demand for manufacturing paints & coating, which are further used in automotive and construction industries. Moreover, the rising demand for Neopentyl Glycol in agrochemicals, textiles, and personal care products is expected to spur the market growth during the forecast period 2018-2023.

The high demand for Neopentyl Glycol as an additive in the powder coatings for resistance and stability led the North American market in 2017.

The European market is projected to witness a moderate growth due to the demand from automotive production in Western Europe.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

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