According to
ChemAnalyst report, “Global Neopentyl
Glycol Market: Plant Capacity, Production, Operating Efficiency, Demand &
Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade,
Customer & Price Intelligence Market Analysis, 2015-2030”,
global neopentyl glycol market has shown promising
growth in the past five years and is anticipated to achieve a CAGR of 4.19%
during the forecast period. Growing demand for coating resins from the end use
industries including construction and automotive is expected to drive the
demand of neopentyl glycol (NPG) during the forecast period. Capacity
expansions by companies including BASF and Sinopec expansion of capacity from
40 KT to 80 KT in China is expected to further the opportunities in the market
for NPG.
Get more information:
https://www.chemanalyst.com/industry-report/neopentyl-glycol-market-613
Neopentyl glycol
is polyalcohol having superior performance advantages in many end use areas due
to its high chemical and thermal stability. There are two main routes to produce
NPG using isobutyraldehyde and formaldehyde. In the first one, the raw
materials react with a strongly alkaline catalyst to form NPG. In the process
large amounts of formate salts are formed as byproduct. In a second and more
common process, the aldolisation reaction is carried out in the presence of an
amine catalyst. This is further hydrogenated in the presence of a catalyst and
the molten NPG is solidified by means of a flaking roll, or a crystallising or
cooling belt.
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Neopentyl glycol
(NPG) is mainly used as a building block for coating resins such as saturated
polyesters which have major application in powder coatings, unsaturated
polyesters which have application in artificial marble and gel coat for boats,
and alkyd resins which have application in metal coatings. NPG is also used for
the production of polyurethane resins which have application as an adhesives.
Other applications of NPG include polyester lubricants and plasticizers. Major
end uses for NPG include automotive, construction, furniture, electronics,
pharmaceuticals. Owing to the impact of COVID-19, neopentyl glycol demand has
declined drastically due to nationwide lockdowns and subsequent disruptions in
supply chains. Construction and automotive sectors were the most severely hit
sectors during the pandemic. However overall good demand growth has been
observed in China from the manufacturing sector due to continuation of
production activities after the lockdowns.
Neopentyl glycol
is majorly related to isobutyraldehyde and formaldehyde hence the price is
linked to the variations in the prices of the raw materials. In the first half of FY20 sudden outbreak of
novel coronavirus followed by a fall in in the demand of construction sector
which consumes most of the powder coatings which are the major application of
NPG rendered a major fall in the global neopentyl glycol, hence the prices
remained low for neopentyl glycol during the coronavirus pandemic.
Region wise,
Asia Pacific region holds the major share of global demand for neopentyl glycol
due to growing demand for commercial and residential construction and
automotive sector. Increasing population and per capita income in emerging
economies is another factor propelling demand growth for neopentyl glycol in
Asia Pacific
According to
ChemAnalyst report, Global Neopentyl
Glycol Market: Plant Capacity, Production, Operating Efficiency, Demand &
Supply, Technology, Application, End Use, Distribution Channel, Region,
Competition, Trade, Customer & Price Intelligence Market Analysis,
2015-2030”, some of the
major players operating in global neopentyl glycol market are BASF SE,
Celanese, Eastman Chemicals, Koei-Perstorp Chemical, LG Chemical, Mitsubishi
Gas Chemical, Perstorp, Polioli, Shandong Dongchen, Shandong Guanghe, Shandong
Linzi Yongliu, and others.
“Being linked to
the coatings industry, the global neopentyl glycol industry has shown a robust
growth alongside growing population and changing consumer preference. China serves
as the key growth region with sufficiently installed capacities for neopentyl
glycol. Major players are anticipating that there will be sufficient demand
supply gaps in the future given that the global population is on the rise at a
steady rate which will rise the demand for paints and coatings which require neopentyl
glycol for production.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research based global management consulting
firm promoting ChemAnalyst.
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