Neopentyl Glycol Market Size to significant gains from the automotive sector | By key players Eastman Chemical Company, LG Chem, Mitsubishi Gas Chemical Company, Inc., OXEA GmbH, Oleon NV, Perstorp AB, BASF SE

The global Neopentyl Glycol Market outlook, in the forthcoming years, is expected to be transformed rapidly on account of the widespread application avenues of the chemical compound. The product witnesses strong demand from paints & coatings industry as it is used to formulate multiple products exhibiting better durability and mechanical resistance. It is used in several forms depending on the specificity of the job. For instance, the product is used in powered form for powder coating applications in the automotive, aerospace, electronic appliances and construction sectors.

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Proliferation in construction industry as a result of increasing spending on residential and commercial establishments will boost the neopentyl glycol market growth. When incorporated in construction materials, the product offers key benefits such as corrosion resistance, better insulation and enhanced durability which will support product demand for building insulation applications.

Construction industry players are focusing on insulating building materials in order to increase the infrastructure lifecycle and resist the impact caused by pollutants. The rising energy cost, shifting preferences toward sustainability and increasing global pollution due to excessive burning of fossil fuels will foster product consumption in the upcoming years. As per Global Market Insights, Inc., Neopentyl Glycol Market size is likely to grow over USD 1.5 billion by 2025.

Neopentyl glycol also showcases some environmental benefits along with higher durability as compared to existing alternatives. Powder coating resins derived from it are observed to produce lower VOC emission rates, inverse to the conventional resins dispersing high amounts of VOCs in the air. The presence of stringent government regulations pertaining to VOC emissions will positively impact the business outlook. Moreover, rising efforts from the companies to obey environmental laws and regulations will augment neopentyl glycol market demand.

Increase in construction of buildings

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.

Higher demand for insulating building materials due to the increasing cost of energy and the rising global pollution levels due to the use of fuels in various industries will magnify the product outlook where it can offer improved performance.

Urbanization in Asia Pacific region

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.

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 manufacturers.

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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 application segment of neopentyl glycol and was anticipated to contribute more than US$300 million by the end of 2025 towards the industry revenues.

Use of the product in automobiles

Automobile manufacturers are constantly aiming at reducing the weight of the vehicle by deploying advanced composites, efficient electronics, and high strength materials. This helps in improving fuel efficiency, reducing the carbon emission levels as well as supports the demand for the product.

Strict rules established by the governments to reduce the VOC emission levels is driving the use of the product in various solvents such as water, ethanol, diethyl ether, chloroform, and benzene will also complement the use of neopentyl glycol in the manufacturing of protective coatings. In a nutshell, continuous support from the government by introducing revised policies and regulations will impact global neopentyl glycol industry prospects.

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