Neopentyl Glycol Market Size By Type (Flakes, Molten, Slurry), By Application (Automotive Parts/Insulation, Construction Insulation, Furniture/Footwear, Plasticizers, Electronic Products, Fibers, Automotive/Construction Additives, Lubricants, Pharmaceuticals, Agrochemicals, Dyes) Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Sep 2019  |  Report ID: GMI1869  |  Authors: Kunal Ahuja, Amit Rawat

Report Format: PDF   |   Pages: 350   |   Base Year: 2018

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Neopentyl Glycol Market size valued at over USD 1 billion in 2018 and is anticipated to witness around 7% CAGR from 2019 to 2025.

U.S. Neopentyl Glycol Market, By Type, 2018 & 2025, (Thousand Tonnes)

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Positive application outlook in manufacturing lubricants for automotive and aircraft engines, greases and hydraulic fuels owing to its high thermal and chemical stability is anticipated to propel neopentyl glycol market. Shifting trend toward the use of low/non-VOC chemical compounds as an alternative to conventional resins will supplement industry growth in the coming years. Surging demand across paints and coatings industry, particularly powder coatings will create new business opportunities for industry participants.

Rapid industrialization & urbanization along with the economic boom in India, Indonesia, Mexico, and South Korea will also provide a positive outlook for business expansion. Growing demand for fabric softeners, plasticizers, pesticides, and pharmaceuticals will positively influence the neopentyl glycol market penetration rate. Factors such as high resistance to oxidation, non-polar chemical nature along with availability in the form of flakes, molten, and slurry type, will support product utilization as an intermediate in manufacturing of numerous chemical products.

Global paints & coatings industry is accelerating at a fast pace owing to the escalating demand from automotive, transportation, and building & construction sectors. Housing subsidies along with socio-economic development by the regional governments will also positively impact the product demand. Increasing necessity for advanced adhesives & sealants with easy usability and low VOC content will further promulgate the overall neopentyl glycol market development.

Shifting trends in the preparation of chemicals using organic compounds along with the adoption of advanced industrial synthesis, such as green catalytic process, are among the major factors stimulating the raw material supply dynamics. Stringent government regulations concerning VOC emissions will also support the neopentyl glycol business operations. The organic nature of the product will further help in the production of organic chemicals used in agrochemicals, skincare, and pharmaceutical application industries.

Neopentyl Glycol Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 1 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 7% 2025 Value Projection: 1.5 Billion (USD)
Pages: 350 Tables, Charts & Figures: 397
Geographies covered (22): U.S., Canada, Germany, Italy, France, Spain, UK, Poland, China, India, Japan, South Korea, Australia, Thailand, Malaysia, Indonesia, Brazil, Argentina, Mexico, Saudi Arabia, UAE, South Africa
Segments covered: Type, Application and Region
Companies covered (14): BASF SE, Eastman Chemical Company, LG Chem, Mitsubishi Gas Chemical Company, Inc., OXEA GmbH, Oleon NV, Perstorp AB, Celanese Corporation, Mohini Organics Pvt. Ltd., Kowa India Pvt. Ltd., Wanhua Chemical Group Co. Ltd, Zibo Ruibao chemical Co. Ltd, Zouping Fenlian Biotech Co. Ltd
Growth Drivers:
  • Increasing construction spending
  • Growing demand for coatings in automotive & aerospace industry
  • Rising focus on VOC emissions reduction
  • Surging product adoption in the furniture industry
  • Production capacity expansions by major players
Pitfalls & Challenges:
  • High transportation costs and storage related concerns

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Neopentyl Glycol Market, By Type

Neopentyl glycol sales from flakes generated over USD 900 million in 2018 and expected to  hold a significant industry share. Key benefits including ease of handling during storage, enhanced usability, and low maintenance in terms of transportation and application have enhanced the demand neopentyl glycol flake demand across the resins & coatings industry. Increasing product adoption rate in saturated polyesters for coil coatings, powder coatings & stoving enamels fueling neopentyl glycol market growth.

Neopentyl glycol slurry market is set to witness over 6.5% CAGR up to 2025. The market will witness a substantial growth due to neopentyl glycol’s unique structure and high thermal stability, making it an attractive option for a wide variety of applications including fibreglass reinforced resins, alkyd coating resins, polyester polyols plasticizer, powder coating resins, etc. High crystalline and weatherability assistance of the product are among the key factors supporting the market demand.

Neopentyl Glycol Market, By Application

Europe Neopentyl Glycol Market, By Application, 2018 (USD Million)

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Automotive parts/insulation hold over 18% of the market share in the neopentyl glycol market in 2018. Neopentyl glycol is widely used in insulation and coatings application owing to its high chemical and thermal stability. Growing necessity for insulation in automotive to reduce the heat-related issues with the engine will boost the neopentyl glycol application in automotive sector. Applicability of neopentyl glycol enables high performance standards including greater thermal stability, fire safety and mechanical stability of the end-use product.

Electronics products by the application are expected to register 8% gains in the forecast period. Increasing demand for decorative colour and coating styles in electronic appliances like refrigerators, television sets, DVD players and washing machines will provide strong business outlook for industry participants. Factors such as aesthetic appearance and protection against any damage during its everyday usage will foster product demand.

Neopentyl Glycol Market, By Region

Asia Pacific Neopentyl Glycol Industry, By Country, 2025 (USD Million)

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Asia Pacific neopentyl glycol market, led by China, Japan and India holds the largest industry share and generated over USD 500 million in 2018. Manufacturers inclination towards producing environment-friendly powder coatings with low emission of VOC’s will propel the demand for neopentyl glycol in forecasted time frame. For instance, BASF and SINOPEC have decided to double the production capacity which will be available in the market from 2020. With the increased production, company will support the high-quality NPG demand in China and rest of the Asia Pacific.

Middle East & Africa neopentyl glycol market is expected to register over 7% growth up to 2025. Growth in the region is expected to be driven by investments in the construction sector and the emergence of new technologies in manufacturing and pharmaceutical industry. The increasing number of expatriates, business opportunities and investments has resulted in the growth of real estate sector in commercial and residential segments in the region. Rapid growth in automotive production and domestic appliances sector in the region will propel the demand for neopentyl glycol in forecasted time frame.

Competitive Market Share

The global neopentyl glycol market is highly consolidated owing to the presence of a few dominating companies including BASF, Eastman Chemicals, LG Chem, Mitsubishi Gas Chemical, OXEA, Perstorp AB, and Wanhua Chemical Group. Major initiatives to capture a higher market share include geographical expansions, production capacity expansion, R&D investments, and mergers & acquisitions. This helps them explore the untapped market potential.

Industry players resort to supply chain agreements with dealers & distributors to ensure efficient flow of their products across all regions. Manufacturers have started adopting novel technologies, such as the Industry 4.0, Internet of things (IoT), Big Data, and AI, to enhance their production capacity, reduce operating cost & downtime, and increase their sales. Also, industry players have started establishing their production plants in areas where the demand is high, and competition is low so as to increase their sales and easily achieve economies of scale.

Industry Background

Neopentyl glycol is an organic chemical synthesized by aldol reaction of formaldehyde and isobutyraldehyde. It is majorly used in the synthesis of plasticizers, paints, lubricants and polyester resins. The product has wide applications in several industries including construction, aerospace, automotive, paints and coatings, consumer products and electronic applications. The significant growth in market as a result of enhanced properties of the product will create new avenues for the manufacturers in forecasted time frame. Overall growth in construction industry, increasing demand for consumer goods and automotive in the emerging economies will boost the neopentyl glycol market expansion.

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Premium Report Details

  • Published Date: Sep 2019
  • Pages: 350
  • Tables: 380
  • Charts / Figures: 17
  • Companies covered: 14
  • Countries covered: 22

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