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The global neopentyl glycol market was worth USD 1.39 billion in 2022 and is expected to reach USD 2.17 billion by 2030, expanding from USD 1.48 billion in 2023 at a CAGR of 6%.
The global neopentyl glycol market is expanding rapidly and seeing high demand from many different sectors. Neopentyl glycol, or NPG, is a chemical molecule that plays a significant role in numerous industrial processes, most notably the creation of coatings, resins, and polyester polyols. The construction and automotive industries, where NPG is widely used in high-performance coatings and long-lasting paints, are principally responsible for the market's rapid growth. Since neopentyl glycol helps cut volatile organic compound emissions from coatings and adhesives, it has becoming increasingly popular as people become more concerned about the environmental impact of their purchases. Manufacturers in the plastics and fibres sectors continue to be drawn to the chemical because of its adaptability and high quality qualities, such as increased thermal stability and weather resistance. The development of new technologies and the introduction of novel manufacturing techniques are also driving the industry ahead. The rapid industrialisation, urbanisation, and expanding infrastructure development in nations like China and India have propelled the Asia-Pacific region to the forefront of global power. Nonetheless, North America and Europe also show significant expansion because of their increasing demand for eco-friendly products and their booming car production. The Global Neopentyl Glycol Market is predicted to continue its upward trend for the foreseeable future as the need for sustainable and high-performance chemicals rises.
Detailed Classification
In terms of product form, flakes account for the vast majority of sales in the global neopentyl glycol market. Neopentyl glycol flake has a large market share because it is convenient to work with, can be stored more effectively, and transported quickly. Since flakes have more purity and are less likely to be contaminated, they are preferred by both producers and consumers for use in a variety of coatings, resins, and adhesives. The slurry subsegment of the Global Neopentyl Glycol Market is expanding at a faster rate than any other. The advantages of slurry neopentyl glycol in some applications, such as superior solubility and simpler absorption into water-based systems, contribute to its rising popularity. When making water-based paints or adhesives, for example, the slurry form is more universally applicable. Slurry's environmental benefits and increasing usability in emerging eco-friendly product lines have contributed to its rapid expansion, making it one of the chemical industry's fastest-growing product categories in recent years.
Methodology of Analysis Via Use
Paintings and coatings account for the bulk of the global neopentyl glycol market. High-performance coatings, paints, and varnishes account for a sizable portion of the market because of the widespread usage of neopentyl glycol in their formulation. Neopentyl glycol is highly sought after for use in a wide variety of industrial and decorative coatings because to its superior adhesion, durability, and resistance to weathering. Increasing demand for sustainable and environmentally friendly coatings, together with a robust construction and industrial sector, has helped the Paintings and Coatings subsector maintain its dominant position in the market. The automotive industry is the fastest-growing sector of the global neopentyl glycol market. Neopentyl glycol's use in these vehicles has increased as the automobile industry has grown rapidly, especially in developing countries. NPG's increased resistance to corrosion and environmental stressors has led to its increased use in automotive coatings and adhesives, which has in turn led to its increased adoption by automobile makers. Increased demand for neopentyl glycol in the automotive industry can be attributed to the fact that it is used to create high-performance, high-strength innovative materials, which are in high demand due to the trend towards lighter, more fuel-efficient automobiles.
Drivers
Demand rises for environmentally friendly and long-lasting goods
The rising demand for sustainable and environmentally friendly products is a major factor behind the growth of the global neopentyl glycol market. Industries are aggressively looking for alternatives to existing chemical compounds as environmental concerns continue to rise to the forefront. Thanks to its low volatile organic compound (VOC) emissions, superior adhesion properties, and reduced environmental impact, neopentyl glycol has become a popular choice for a wide range of uses. More and more businesses and consumers are turning to neopentyl glycol to help them achieve their green objectives, which is fueling the market's growth.
Restraints
Raw material price fluctuations
Raw material price volatility is a major challenge for the global neopentyl glycol market. The price of crude oil has a major impact on the cost of producing neopentyl glycol because it is made from petrochemical-derived feedstocks. Manufacturers face difficulties in controlling costs and increasing profits as a result of this pricing fluctuation. Furthermore, investment decisions and the development of the neopentyl glycol business can be hampered by the uncertainty of raw material costs. To reduce the effects of shifting raw material costs and ensure market stability, manufacturers must closely track and manage their supply chain.
Key Market Developments
Demand for sustainable and environmentally friendly goods continues to rise. The rising demand for eco-friendly and sustainable products is a major factor driving the Global Neopentyl Glycol Market. Neopentyl glycol's low VOC emissions and lower environmental impact have led to its widespread adoption in industrial settings as concern for the environment has grown. The better performance and compliance with environmental regulations offered by neopentyl glycol is pushing the creation of eco-friendly coatings, adhesives, and other goods.
Report Coverage
Global Neopentyl Glycol research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Neopentyl Glycol report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Neopentyl Glycol competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Neopentyl Glycol market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Neopentyl Glycol market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Neopentyl Glycol market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF SE (Germany), Celanese Corporation (US), Eastman Chemical Company (US), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), Shandong Dongchen New Technology Co, Ltd. (China), Dairen Chemical Corporation (Taiwan), Nan Ya Plastics Corporation (Taiwan), ISU Chemical Co., Ltd. (South Korea), ExxonMobil Corporation (US), Mitsui Chemicals, Inc. (Japan), NAN YA PLASTICS CORPORATION (Taiwan), Maruzen Petrochemical Co., Ltd. (Japan), Baichuan Stock (China), Bluestar Harbin Petrochemical Corporation (China), Yantai Suny Chem International Co., Ltd. (China)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Neopentyl Glycol market based on the below-mentioned segments:
Global Neopentyl Glycol Market, By Type
Flakes
molten
slurry
Global Neopentyl Glycol market, By Application
Paintings and coatings
automotive
construction and others
Global Neopentyl Glycol market, Regional Analysis
The global neopentyl glycol market is expanding rapidly and seeing high demand from many different sectors. Neopentyl glycol, or NPG, is a chemical molecule that plays a significant role in numerous industrial processes, most notably the creation of coatings, resins, and polyester polyols. The construction and automotive industries, where NPG is widely used in high-performance coatings and long-lasting paints, are principally responsible for the market's rapid growth. Since neopentyl glycol helps cut volatile organic compound emissions from coatings and adhesives, it has becoming increasingly popular as people become more concerned about the environmental impact of their purchases. Manufacturers in the plastics and fibres sectors continue to be drawn to the chemical because of its adaptability and high quality qualities, such as increased thermal stability and weather resistance. The development of new technologies and the introduction of novel manufacturing techniques are also driving the industry ahead. The rapid industrialisation, urbanisation, and expanding infrastructure development in nations like China and India have propelled the Asia-Pacific region to the forefront of global power. Nonetheless, North America and Europe also show significant expansion because of their increasing demand for eco-friendly products and their booming car production. The Global Neopentyl Glycol Market is predicted to continue its upward trend for the foreseeable future as the need for sustainable and high-performance chemicals rises.
Detailed Classification
In terms of product form, flakes account for the vast majority of sales in the global neopentyl glycol market. Neopentyl glycol flake has a large market share because it is convenient to work with, can be stored more effectively, and transported quickly. Since flakes have more purity and are less likely to be contaminated, they are preferred by both producers and consumers for use in a variety of coatings, resins, and adhesives. The slurry subsegment of the Global Neopentyl Glycol Market is expanding at a faster rate than any other. The advantages of slurry neopentyl glycol in some applications, such as superior solubility and simpler absorption into water-based systems, contribute to its rising popularity. When making water-based paints or adhesives, for example, the slurry form is more universally applicable. Slurry's environmental benefits and increasing usability in emerging eco-friendly product lines have contributed to its rapid expansion, making it one of the chemical industry's fastest-growing product categories in recent years.
Methodology of Analysis Via Use
Paintings and coatings account for the bulk of the global neopentyl glycol market. High-performance coatings, paints, and varnishes account for a sizable portion of the market because of the widespread usage of neopentyl glycol in their formulation. Neopentyl glycol is highly sought after for use in a wide variety of industrial and decorative coatings because to its superior adhesion, durability, and resistance to weathering. Increasing demand for sustainable and environmentally friendly coatings, together with a robust construction and industrial sector, has helped the Paintings and Coatings subsector maintain its dominant position in the market. The automotive industry is the fastest-growing sector of the global neopentyl glycol market. Neopentyl glycol's use in these vehicles has increased as the automobile industry has grown rapidly, especially in developing countries. NPG's increased resistance to corrosion and environmental stressors has led to its increased use in automotive coatings and adhesives, which has in turn led to its increased adoption by automobile makers. Increased demand for neopentyl glycol in the automotive industry can be attributed to the fact that it is used to create high-performance, high-strength innovative materials, which are in high demand due to the trend towards lighter, more fuel-efficient automobiles.
Drivers
Demand rises for environmentally friendly and long-lasting goods
The rising demand for sustainable and environmentally friendly products is a major factor behind the growth of the global neopentyl glycol market. Industries are aggressively looking for alternatives to existing chemical compounds as environmental concerns continue to rise to the forefront. Thanks to its low volatile organic compound (VOC) emissions, superior adhesion properties, and reduced environmental impact, neopentyl glycol has become a popular choice for a wide range of uses. More and more businesses and consumers are turning to neopentyl glycol to help them achieve their green objectives, which is fueling the market's growth.
Restraints
Raw material price fluctuations
Raw material price volatility is a major challenge for the global neopentyl glycol market. The price of crude oil has a major impact on the cost of producing neopentyl glycol because it is made from petrochemical-derived feedstocks. Manufacturers face difficulties in controlling costs and increasing profits as a result of this pricing fluctuation. Furthermore, investment decisions and the development of the neopentyl glycol business can be hampered by the uncertainty of raw material costs. To reduce the effects of shifting raw material costs and ensure market stability, manufacturers must closely track and manage their supply chain.
Key Market Developments
Demand for sustainable and environmentally friendly goods continues to rise. The rising demand for eco-friendly and sustainable products is a major factor driving the Global Neopentyl Glycol Market. Neopentyl glycol's low VOC emissions and lower environmental impact have led to its widespread adoption in industrial settings as concern for the environment has grown. The better performance and compliance with environmental regulations offered by neopentyl glycol is pushing the creation of eco-friendly coatings, adhesives, and other goods.
Report Coverage
Global Neopentyl Glycol research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Neopentyl Glycol report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Neopentyl Glycol competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Neopentyl Glycol market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | BASF SE (Germany), Celanese Corporation (US), Eastman Chemical Company (US), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), Shandong Dongchen New Technology Co, Ltd. (China), Dairen Chemical Corporation (Taiwan), Nan Ya Plastics Corporation (Taiwan), ISU Chemical Co., Ltd. (South Korea), ExxonMobil Corporation (US), Mitsui Chemicals, Inc. (Japan), NAN YA PLASTICS CORPORATION (Taiwan), Maruzen Petrochemical Co., Ltd. (Japan), Baichuan Stock (China), Bluestar Harbin Petrochemical Corporation (China), Yantai Suny Chem International Co., Ltd. (China) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Neopentyl Glycol Market from 2021 to 2030.
- Market Forecast for Neopentyl Glycol Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Neopentyl Glycol competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Neopentyl Glycol
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Neopentyl Glycol market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Neopentyl Glycol market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
BASF SE (Germany), Celanese Corporation (US), Eastman Chemical Company (US), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), Shandong Dongchen New Technology Co, Ltd. (China), Dairen Chemical Corporation (Taiwan), Nan Ya Plastics Corporation (Taiwan), ISU Chemical Co., Ltd. (South Korea), ExxonMobil Corporation (US), Mitsui Chemicals, Inc. (Japan), NAN YA PLASTICS CORPORATION (Taiwan), Maruzen Petrochemical Co., Ltd. (Japan), Baichuan Stock (China), Bluestar Harbin Petrochemical Corporation (China), Yantai Suny Chem International Co., Ltd. (China)
Primary Target Market
- Market Players of Neopentyl Glycol
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Neopentyl Glycol market based on the below-mentioned segments:
Global Neopentyl Glycol Market, By Type
Flakes
molten
slurry
Global Neopentyl Glycol market, By Application
Paintings and coatings
automotive
construction and others
Global Neopentyl Glycol market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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