The global
neopentyl glycol market is segmented by type, application, end-use industries,
and region.
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
ü
BASF SE
ü
Celanese Corporation
ü
Eastman Chemical Company
ü
LG Chem
ü
MITSUBISHI GAS CHEMICAL COMPANY, INC.
ü
OXEA GmbH
ü
Perstorp Orgnr
ü
Polioli S.p.A.
ü
Oleon NV
ü
Shandong Dongchen New Technology
Co,Ltd.
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.
Intended Audience
- Neopentyl glycol Manufacturers
- Traders and distributors of Neopentyl glycol
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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