Press release
Neopentyl Glycol Market to witness around 7% CAGR by 2025 | By key players OXEA GmbH, Oleon NV, Perstorp AB, BASF SE, Eastman Chemical Company, LG Chem, Mitsubishi Gas Chemical Company, Inc.
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Major features of the product such as low cost of processing, enhanced environmental performance, and low consumption of energy is supporting its use. Rising environmental concerns across the globe is driving the governments to adopt strict regulations regarding chemical processing and VOC emission standards. Market players are constantly aiming at improving the quality of the products to comply with the prevailing laws along with achieving competitive advantage.
Key neopentyl glycol manufacturers include BASF, OXEA, Mitsubishi Gas Chemical, Wanhua Chemical Group, and Perstorp AB among various others. Many companies are entering into strategic alliances and mergers to improve their production capacity and carry out technological advancements.
The construction industry has witnessed considerable growth over the years as a result of heavy investments made by the government and private companies towards residential construction. Major factors supplementing the demand for the product in construction additives and insulation includes improved insulation, resistance from corrosion, and durability.
In terms of the regional expanse, Asia Pacific has witnessed rapid urbanization and industrialization over the past decade. As per reports, Asia Pacific neopentyl glycol market size was likely to register CAGR of more than 7.5% through 2025. In rural regions of countries like China, Indonesia, and India due to the increased penetration of the internet, there has been a consequent rise in the use of electronic appliances.
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Neopentyl glycol is widely used in electronic items due to their greater thermal and mechanical stability as well as fire safety. Measures taken by the governments to boost the economy will provide greater growth opportunities to the neopentyl glycol market.
As compared to previous years, the purchasing power among people has considerably improved over due to the economic growth in both developed and developing nations. This improvement had driven the demand for automobiles over the years. Apparently, automotive parts and insulation held the highest share in the applicion segment of neopentyl glycol market and was anticipated to contribute more than US$300 million by the end of 2025 towards the industry revenues.
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Product Name - Neopentyl Glycol
HS Code - 39079120
Molecular Weight - 104.148 g/mol
Chemical Formula - C5H12O2
Synonyms - 2,2-Dimethylpropane-1,3-diol, 2,2-Dimethyl-1,3-propanediol
Region/Countries for which Data is available
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland,…
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