Neopentyl Glycol Market is projected to be worth USD 1.95 Billion by 2028, registering a CAGR of 4.9% during the forecast period (2021 - 2028).
Neopentyl Glycol Market Overview Neopentyl Glycol Market is projected to be worth USD 1.95 Billion by 2028, registering a CAGR of 4.9% during the forecast period (2021 - 2028). Neopentyl glycol, commonly known as Dimethylolpropan, is a colorless to a white hygroscopic crystalline organic chemical compound. The aldol reaction of formaldehyde and isobutyraldehyde produces intermediate hydroxypivaldehyde, which is used to make neopentyl glycol in the industry. Through catalytic hydrogenation of an aldehyde group to an alcohol group, this can be transformed into neopentyl glycol. The rising usage of neopentyl glycol as a base resin for coatings, hydraulic fuels, greases, and aircraft engine lubricants is a primary driver for the worldwide neopentyl glycol market. It has exceptional qualities such as resistance to oxidation, non-polar chemical nature, and increased heat, light, and water stability. Water, benzene, chloroform, ethanol, and diethyl ether are all soluble in neopentyl glycol. Its demand is also rising as a chemical intermediate in the production of resins, polyesters, alkyd resins, paints, synthetic lubricants, adhesives, and other products. Plasticizers, medications, pesticides, scents, fabric softeners, vibration-dampers, and other products use it as a basis. The rising penetration of neopentyl glycol in paints and coatings, which is complementary to various end-use sectors such as automotive, aircraft, shipbuilding, and construction, is likely to drive the global neopentyl glycol market. Over the evaluation period, heavy investments in infrastructure projects in emerging countries, as well as new product development in medicines and personal care goods, are projected to provide significant prospects for neopentyl glycol.
Global Neopentyl Glycol, by the Application (%)
Source: MRFR analysis
Some of the manufacturers operating in the global neopentyl glycol market are BASF SE (Germany), Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), and Shandong Dongchen New Technology Co,Ltd. (China).
The global neopentyl glycol market is spanned across the following five regions named Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia Pacific dominated the global neopentyl glycol market in 2017 owing to the high demand for paints & coatings coupled with the growth of the supplementary end-use industries such as automotive and construction in the region. The increasing demand for neopentyl glycol in personal care products, agrochemicals, and textiles is likely to fuel the market growth in the region.
North America was the second largest market across the globe in 2017 on account of the high demand for neopentyl glycol as an additive in the powder coatings for resistance, stability, and low VOC emission.
The European market is projected to witness a moderate growth due to the high demand from automotive production in the Western Europe.
The Latin American market is expected to showcase a considerable growth due to the growing automotive industry in the region.
The Middle East & Africa is likely to grow substantially owing to the increasing demand for construction insulation and adhesives from the infrastructural activities in the GCC countries.
The global neopentyl glycol market is segmented on the basis of the type, application, end-use industries, and region.
On the basis of the type, the global neopentyl glycol market is segmented into flakes, molten, and slurry.
Based on the application, the market is segmented into coatings, adhesives & sealants, insulation, plasticizers, fibers, agrochemicals, fuel additives, dyes, emollient, and others.
On the basis of the end-use industries, the market is segmented into paints, automotive, construction, chemicals, plastics, textiles, pharmaceuticals, cosmetics & personal care, and others.Recent Development
|Market Size||2030: Significant Value|
|CAGR||Substantial CAGR (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, application and end-use industries|
|Geographies Covered||Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.|
|Key Vendors||BASF SE (Germany), Celanese Corporation (U.S.), Eastman Chemical Company (U.S.), LG Chem (South Korea), MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan), OXEA GmbH (Germany), Perstorp Orgnr (Sweden), Polioli S.p.A. (Italy), Oleon NV (Belgium), and Shandong Dongchen New Technology Co,Ltd. (China).|
|Key Market Opportunities||increasing penetration of nepentyl glycol in paints and coatings|
|Key Market Drivers||
Rising use of the chemical as a base resin for lubricants, greases, coatings, and paints is the biggest driver of the global neopentyl glycol market.
Availability of alternatives such as ethylene glycol may impede the growth of the global neopentyl glycol market.
Capacity expansions and novel product launches are two of the biggest developments of the global neopentyl glycol
The APAC has the largest share of the global neopentyl glycol market owing to massive demand for paints and coatings in various end-use industries.
Polioli S.p., BASF SE, MITSUBISHI GAS CHEMICAL COMPANY, INC., Eastman Chemical Company, LG Chem, Celanese Corporation, Perstorp Orgnr, OXEA GmbH, Oleon NV, and Shandong Dongchen New Technology Co, Ltd. are some of the well-known names of the global neopentyl alcohol market,