The Neopentyl Glycol Market study by Company, Region, Type, Material, and Application; offered by Stratview Research discusses the most up-to-date market trends as well as an industry growth estimate for the next 5 years. The report covers industry profiles of key players, including market share, regional analysis, and market division, business development strategies, mergers acquisitions, alliances, and key financial data, etc.
Market Insights
According to the report, the neopentyl glycol marketsize was estimated atUSD 1.5 billion in 2022and is likely to grow at aCAGR of 4.01%during2022-2028to reachUSD 1.96 billion in 2028.
The prime factor that is contributing to the demand for neopentyl glycol is mainly the increasing demand for low-VOC compounds and a wide arrange of applications.
What is neopentyl glycol?
Neopentyl glycol is an organic chemical compound that finds use in the synthesis of paints, polyesters, lubricants, and plasticizers.
COVID-19 IMPACT
The global pandemic majorly impacted the neopentyl glycol market. The market experienced a downshift in global demand in the year 2020.
Market Segments' Analysis
Based on the type, the market is segmented as flakes, molten, and slurry.The flakes segment held the largest share of the market in 2021 and is expected to remain dominantduring the forecast period. Ease in handling during storage, enhanced usability, and low maintenance in terms of transportation and application has boosted the demand for neopentyl glycol across the resin coating industry.
Based on the application type, themarket is segmented as automotive parts/insulation, construction insulation, furniture/footwear, plasticizers, electronic products, fibers, automotive/construction additives, lubricants, pharmaceuticals, agrochemicals, dyes, and others.The automotive parts/insulation segment dominated the market in 2021 and is expected to lead the marketduring the forecast period as well. Neopentyl glycol is widely used in insulation applications owing to its high thermal stability.
In terms of regions,Asia-Pacific is estimated to be the largest as well as the fastest-growing marketfor neopentyl glycol during the forecast period, with China, Japan, India, and South Korea being the major countries with lucrative growth opportunities. Inclination towards producing environment-friendly powder coatings with low VOC emission is likely to propel the market growth across the regions. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players
The following are the key players in the Neopentyl Glycol Market -
- BASF
- Eastman Chemicals
- LG Chem
- Mitsubishi Gas Chemical
- OXEA
- Perstorp AB
- Wanhua Chemical Group
Research Methodology
This market report from Stratview Research provides a thorough analysis that reflects present and future market possibilities for the forecast period of 2021 to 2026. This market report is compiled through several authenticated secondary sources, such as the companys annual reports, press releases, white papers, articles, etc. Also, the market experts have performed several interviews with the industry stakeholders in order to collect reliable and insightful information.
Custom Research:
Stratview Research delivers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]
Critical Questions Answered in the Report
What are the key trends in the Neopentyl Glycol Market?
How has the market (and its various sub-segments) grown in the last five years?
What would be the growth rate in the next five years?
What is the impact of COVID-19 on the market?
What are the key strategies adopted by the major vendors to lead in the Neopentyl Glycol Market?
What is the market share of the top vendors?
About Us
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