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.
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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.
Industry Segmentation:
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.
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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.
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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