Global Neopentyl glycol Market to Grow at a CAGR of 4.19% by 2030 | ChemAnalyst

According to ChemAnalyst report, “Global Neopentyl Glycol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global neopentyl glycol market has shown promising growth in the past five years and is anticipated to achieve a CAGR of 4.19% during the forecast period. Growing demand for coating resins from the end use industries including construction and automotive is expected to drive the demand of neopentyl glycol (NPG) during the forecast period. Capacity expansions by companies including BASF and Sinopec expansion of capacity from 40 KT to 80 KT in China is expected to further the opportunities in the market for NPG.

Get more information: https://www.chemanalyst.com/industry-report/neopentyl-glycol-market-613

Neopentyl glycol is polyalcohol having superior performance advantages in many end use areas due to its high chemical and thermal stability. There are two main routes to produce NPG using isobutyraldehyde and formaldehyde. In the first one, the raw materials react with a strongly alkaline catalyst to form NPG. In the process large amounts of formate salts are formed as byproduct. In a second and more common process, the aldolisation reaction is carried out in the presence of an amine catalyst. This is further hydrogenated in the presence of a catalyst and the molten NPG is solidified by means of a flaking roll, or a crystallising or cooling belt.

Request Sample: https://www.chemanalyst.com/ChemAnalyst/RequestForm

Neopentyl glycol (NPG) is mainly used as a building block for coating resins such as saturated polyesters which have major application in powder coatings, unsaturated polyesters which have application in artificial marble and gel coat for boats, and alkyd resins which have application in metal coatings. NPG is also used for the production of polyurethane resins which have application as an adhesives. Other applications of NPG include polyester lubricants and plasticizers. Major end uses for NPG include automotive, construction, furniture, electronics, pharmaceuticals. Owing to the impact of COVID-19, neopentyl glycol demand has declined drastically due to nationwide lockdowns and subsequent disruptions in supply chains. Construction and automotive sectors were the most severely hit sectors during the pandemic. However overall good demand growth has been observed in China from the manufacturing sector due to continuation of production activities after the lockdowns.

Neopentyl glycol is majorly related to isobutyraldehyde and formaldehyde hence the price is linked to the variations in the prices of the raw materials. In the first half of FY20 sudden outbreak of novel coronavirus followed by a fall in in the demand of construction sector which consumes most of the powder coatings which are the major application of NPG rendered a major fall in the global neopentyl glycol, hence the prices remained low for neopentyl glycol during the coronavirus pandemic.

Region wise, Asia Pacific region holds the major share of global demand for neopentyl glycol due to growing demand for commercial and residential construction and automotive sector. Increasing population and per capita income in emerging economies is another factor propelling demand growth for neopentyl glycol in Asia Pacific.

According to ChemAnalyst report, Global Neopentyl Glycol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, some of the major players operating in global neopentyl glycol market are BASF SE, Celanese, Eastman Chemicals, Koei-Perstorp Chemical, LG Chemical, Mitsubishi Gas Chemical, Perstorp, Polioli, Shandong Dongchen, Shandong Guanghe, Shandong Linzi Yongliu, and others.

“Being linked to the coatings industry, the global neopentyl glycol industry has shown a robust growth alongside growing population and changing consumer preference. China serves as the key growth region with sufficiently installed capacities for neopentyl glycol. Major players are anticipating that there will be sufficient demand supply gaps in the future given that the global population is on the rise at a steady rate which will rise the demand for paints and coatings which require neopentyl glycol for production.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm promoting ChemAnalyst.

Browse Related Reports

Global Propylene Glycol Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Grade, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030

https://www.chemanalyst.com/industry-report/propylene-glycol-market-87

India Diethylene Glycol Market: Plant Capacity, Production, Operating Efficiency, Process, Demand & Supply, End Use, Application, Sales Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030

https://www.chemanalyst.com/industry-report/india-diethylene-glycol-market-47

About Us

ChemAnalyst is a leading provider of chemical commodity prices in more than 12 countries since from last 4 Years. The company has emerged as a preferred pricing supplier amongst Procurement Managers and Strategy Professionals globally who wants to track near real time prices of chemicals on its interactive dashboard. Unlike most of its competitors such as ICIS, IHS & S&P Platts the company doesn’t believe in delivering prices in PDF reports. The company has developed proprietary algorithm based online subscription platform in which users can track years of historical prices of more than 250 chemical commodities. In addition, since it’s all online, the users cannot just compare prices across multiple countries but also with other commodities and play with the data by generating multiple graphs to find out amazing insights. The users get access to grade wise CIF, CFR & Ex Works prices at multiple ports in each country.

ChemAnalyst also provides market analysis for more than 1000+ chemical commodities such as Production, Demand, Supply, Plant Operating Rate, Imports, Exports, Suppliers, Customers and much more. The company has created online interactive dashboard in which customers can access all this data instantly with a click of a button. The users will not only be able to analyse historical data for past years but will also get to analyse short term and long-term forecasts for coming years. With the access to local field teams, the company can provide high quality reliable market analysis data for more than 20 countries.

ChemAnalyst is a one stop solution for all the data related needs. We at ChemAnalyst are committed to assist customers worldwide with their data and insights needs using our comprehensive online platform.

For more information, please visit us at www.chemanalyst.com

Contact Us:

Nilesh Vishwakarma
B-44 Sector-57 Noida,
National Capital Region
Tel: 0120-4523948
Mob: +91-8882336899
Email: info@chemanalyst.com

This release was published on openPR.