Neopentyl glycol market to grow at 7% CAGR over 2019-2025

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Neopentyl Glycol Market to grow at 7 CAGR over
2019-2025 Global Market Insights, Inc.
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Overview of Neopentyl Glycol Market

• Surge in the demand for powder coatings in the
  electronics, construction, automotive and
  aerospace sector will drive neopentyl glycol
  market share in the forecast time period. The
  product will experience a significant demand
  owing to sturdy scope in powder coating resins,
  with enhanced durability and reduced VOC emission
  as compared to conventional resins.
• Lower consumption of energy, low processing cost
  and enhanced environmental performance of
  neopentyl glycol will encourage product adoption
  and influence the industry growth.
• Strict regulations laid down by the government in
  association with VOC emission standards and
  chemical processing will help accelerate
  neopentyl glycol market size. Several companies
  involved in the industrys competitive dynamics
  constantly seek to improve the product quality so
  that it could meet the existing rules
  regulations present.

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• Neopentyl glycol has been witnessing a rising
  demand as a chemical intermediate used in
  adhesives, alkyd resins, polycarbonate resins,
  synthetic lubricants, paints and polyesters which
  will encourage growth of neopentyl glycol
  industry share over the study period.
• Described below are few trends that will foster
  the steady consumption of neopentyl glycol over
  the coming years
• Reduced processing cost as well as effortless
  availability of neopentyl glycol will lead to an
  escalated impetus to neopentyl glycol market
  forecast. Industry players will be reducing the
  cost of production and investing in newer
  technologies that will help them secure higher
  results, creating lucrative growth opportunities
  and gaining a competitive edge.
• For example, Jiangsu Kaimao Chemical Technology
  Co. Ltd. has reportedly created a one-step
  synthesis of neopentyl glycol that will help in
  the production of the product with purity and
  high stability, at lower cost.

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• Widely used in polyester, neopentyl glycol in the
  form of flakes is suited for the production of
  coil coatings, gel coats, reinforced plastics,
  stoving enamels, and powder coatings as well as
  in esters to produce synthetic lubricants by
  manufactures.
• Neopentyl glycol flakes market share is estimated
  to register a CAGR of more than 7 between 2019
  to 2025.
• Flakes form neopentyl glycol is extremely easy to
  transport, store and handle which will escalate
  the sales of the product and foster neopentyl
  glycol industry size in the forthcoming years.
• Booming automotive production across the globe
  has strengthened the automotive sector and
  induced the demand for neopentyl glycol.
  Automotive parts/insulation segment accounted for
  a large revenue share in 2018 and is anticipated
  to raise more than USD 300 million by the year
  2025.

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• Strict regulations to curb carbon emissions along
  with the surging production of vehicles will
  encourage the manufacturers of automotive and
  transportation components for the adoption of
  polyester resins and powder coatings. They are
  used in the production of greases, fabrics and
  insulation that contains neopentyl glycol
  compounds.
• With a rapid increase in the environment-friendly
  electric vehicles due to growing awareness among
  consumers, from the rise in energy costs and
  depleting fossil fuel resources, will propel the
  industry growth.
• Asia Pacific is witnessing a robust growth in the
  automotive, electronics and construction sector
  which in turn will help boost the demand for
  various industrial products. Asia pacific
  neopentyl glycol market had accounted for more
  than 50 of the market share in 2018 in terms of
  volume, led by countries such as India, Japan and
  China.

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• Rapid development in infrastructure with an
  increase in the consumer expenditure owing to
  rising disposable income at hand, as well as a
  promising economy in countries like Malaysia,
  Thailand, India and China will boost the industry
  size.
• Government regulations and policies favorable in
  the promotion of eco-friendly paints coatings
  and plasticizers will induce product penetration
  in the region. Moreover, availability of raw
  materials at lower prices in the evolving
  macroeconomic dynamics will further expand
  neopentyl glycol market size.

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