Global Neopentyl Glycol Market Poised to Expand at 4.7 % CAGR During 2018 - 2028

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Neopentyl Glycol Market to Incur High Value
Growth at 4.7 CAGR During 2018 - 2028

• March 2020

Report Id REP-GB-6546 Published On 8 April,
2019 Category Chemicals and Materials
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Neopentyl Glycol Market

• VALLEY COTTAGE, N.Y. (GLOBE NEWSWIRE) -- Global
  neopentyl glycol (NPG) consumption was registered
  over 680 thousand tons in 2018, which is likely
  to witness a moderate 4.2 Y-o-Y increase in
  2019. As per the findings of a new research study
  of Future Market Insights (FMI), neopentyl
  glycol of technical grade currently accounts for
  over 95 share in the NPG market and will remain
  dominant over its pharma-grade counterpart
  through the course of coming years.
• Application in Paints Coatings Accounts for
  over 60 of NPG Demand
• More than 3/5th of the total consumption of
  neopentyl glycol is registered by applications in
  paints and coatings industry, as indicated by the
  report. In recent years, the use of protective
  coatings in surface finishing and protection
  applications has been increasing at a
  considerable pace, which is in turn favoring the
  demand for neopentyl glycol for incorporation
  into coating materials.
• Lubricants and insulation materials are likely to
  remain the next key application areas for
  manufacturers of neopentyl glycol and NPG based
  products. The report also foresees relatively
  promising opportunities lying in the adhesives
  and sealants category, over the years to come.

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Neopentyl Glycol Market

• Building Construction Industry to Accommodate
  Higher Opportunities
• While the collective share of NPG consumption by
  automotive and transportation, and building and
  construction industries is currently over 75 of
  the global consumption of neopentyl glycol, FMIs
  analysis opines that the latter will accommodate
  relatively higher opportunistic potential for
  neopentyl glycol manufacturers. Moreover,
  industrial plant and equipment domain is strongly
  likely to reflect relatively profitable
  opportunities for the growth of NPG manufacturing
  companies in the near future.
• With an approximate share of 3/4th of the total
  consumption of neopentyl glycol, NPG flakes are
  highly likely to remain the most preferred form
  in the global market. Neopentyl glycol slurry,
  though also is a choice of form among several end
  use industry operators, will continue to reflect
  a gradual growth outlook in the NPG market. High
  convenience quotient, easy usability, and low
  maintenance in terms of transportation and
  application will remain the key growth
  influencers for neopentyl glycol flakes in the
  market.
• Potential as a Sustainability Vehicle to Propel
  Consumption of Neopentyl Glycol
• The overall growth outlook of neopentyl glycol
  market will remain promising, majorly owing to a
  rapid legislative shift toward low/non-VOC
  chemical compounds, across industries worldwide.
  Neopentyl glycol is being increasingly explored
  as a phase change material for potential
  application in LTHS (latent heat storage)
  devices, which is cited as a significant
  opportunity for manufacturers.

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Neopentyl Glycol Market

• In addition, to mitigate the challenges
  associated with extensive usage of PET
  (polyethylene terephthalate), the role of
  neopentyl glycol in the chemical recycling of PET
  is being tested. According to the report,
  emergence of such innovative applications will
  uplift the growth prospects of neopentyl glycol
  market in coming years.
• China, with over a third of the total NPG
  consumption, is forecast to retain the worlds
  leading neopentyl glycol supplier further
  trailed by the US and Germany. China has also
  been the most prominent consumer of neopentyl
  glycol over the years and is likely to discover
  the highest incremental opportunity in long run,
  which has been attributed to thriving markets of
  unsaturated polyesters, coatings and lubricants,
  and plasticizers within China. On the other side,
  Western Europe and North America hold a combined
  share of around 1/3rd of the total neopentyl
  glycol consumption in the global market.
• Key Manufacturers Eye Production Capacity
  Expansion
• The global neopentyl glycol market is a fairly
  consolidated competition landscape, which is
  currently witnessing a major trend of
  manufacturing capacity expansion. Apart from
  BASF-YPCs highly anticipated 2X NPG production
  expansion project that will go on-stream by 2020,
  Oxea GmbH also recently announced the NPG
  expansion project planned for European base.
  Several key players in the market are prominently
  concentrating on competitive pricing through
  distribution/supply agreements with regionally
  leading end use industries.

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Neopentyl Glycol Market

• The report has covered detailed strategic
  profiles of some of the leading companies in
  global neopentyl glycol market, including BASF
  SE, Eastman Chemical Company, MITSUBISHI GAS
  CHEMICAL COMPANY, INC., OXEA GmbH, Wanhua
  Chemical Group Co., Ltd., TCI Chemicals (India)
  Pvt. Ltd., LG Chem Ltd., Perstorp Holding AB,
  Shandong Dongchen Ind. Group. Corp., Zouping
  Fenlian Biotech Co., Ltd., and Hefei TNJ Chemical
  Industry Co., Ltd.
• Press-release Source globenewswire.com/news-relea
  se/2019/04/11/1802793/0/en/Neopentyl-Glycol-NPG-Ma
  rket-to-Register-at-4-7-During-2018-to-2028-Future
  -Market-Insights.html
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  syndicated research reports, custom research
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  packaged solution, which combines current market
  intelligence, statistical anecdotes, technology
  inputs, valuable growth insights and an aerial
  view of the competitive framework and future
  market trends.
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