Neopentyl Glycol Market Share

Neopentyl Glycol 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
• 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.