Neopentyl Glycol Market Size & Share 2022

1. Neopentyl Glycol Market Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2025

2. Neopentyl glycol consumption has witnessed considerable expansion over the years due to the increasing use of powder coatings in crucial industries such as aerospace, automotive, construction, and electronics. The product is extensively used in powder coating resins as an alternative to traditional resins solutions due to low VOC emission levels and improved durability providing support to the product demand. • Major features of the product such as low cost of processing, enhanced environmental performance, and low consumption of energy is supporting its use. Rising environmental concerns across the globe is driving the governments to adopt strict regulations regarding chemical processing and VOC emission standards. Market players are constantly aiming at improving the quality of the products to comply with the prevailing laws along with achieving competitive advantage. • Key neopentyl glycol manufacturers include BASF, OXEA, Mitsubishi Gas Chemical, Wanhua Chemical Group, and Perstorp AB among various others. Many companies are entering into strategic alliances and mergers to improve their production capacity and carry out technological advancements. • For instance, in August 2019, Eastman Chemical Company declared a collaboration agreement with NC State University and the University of North Carolina to carry out research, promising US$10 million towards the partnership over a period of six years to ensure the growth of the firm.

3. The construction industry has witnessed considerable growth over the years as a result of heavy investments made by the government and private companies towards residential construction. Major factors supplementing the demand for the product in construction additives and insulation includes improved insulation, resistance from corrosion, and durability. • Higher demand for insulating building materials due to the increasing cost of energy and the rising global pollution levels due to the use of fuels in various industries will magnify the product outlook where it can offer improved performance. • Urbanization in Asia Pacific region • In terms of the regional expanse, Asia Pacific has witnessed rapid urbanization and industrialization over the past decade. As per reports, Asia Pacific neopentyl glycol market size was likely to register CAGR of more than 7.5% through 2025. In rural regions of countries like China, Indonesia, and India due to the increased penetration of the internet, there has been a consequent rise in the use of electronic appliances. • Neopentyl glycol is widely used in electronic items due to their greater thermal and mechanical stability as well as fire safety. Measures taken by the governments to boost the economy will provide greater growth opportunities to the neopentyl glycol manufacturers.

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