According to a new market research report published by Global Insight Services “ Neopentyl Glycol (NPG) Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Neopentyl glycol (NPG) is an organic compound with the formula CH3(CH2)4(OH)2. It is a colorless liquid that is miscible with water and is used as a solvent and as a raw material for the production of resins and polymers. NPG is a member of the class of compounds known as diols, which are compounds that contain two hydroxyl groups.NPG is produced by the catalytic hydrogenation of formaldehyde. The hydrogenation of formaldehyde produces methanol, which is then converted to NPG by the action of a dehydrogenase enzyme. NPG can also be produced by the catalytic dehydrogenation of 2-methyl-2-propanol.
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Top Key Players in Neopentyl Glycol (NPG) market: BASF SE, Eastman, MITSUBISHI GAS , OXEA GmbH,, Wanhua Chemical Group Co., Ltd., TCI Chemicals Pvt. Ltd., LG Chem Ltd.
Key Trends
Some of the key trends in neopentyl glycol (NPG) technology include the development of new and more efficient production methods, the use of NPG as a green solvent, and the increasing use of NPG in a variety of applications.One of the most significant trends in NPG technology is the development of new production methods that are more efficient and less expensive. For example, new catalytic methods have been developed that allow for the direct conversion of propylene to NPG. This is a significant improvement over the traditional production method, which involves the indirect conversion of propylene to NPG via the intermediate compound propylene oxide.
Key Drivers
The key drivers of the Neopentyl Glycol (NPG) market are the increasing demand for NPG from the paints and coatings industry, and the growing demand for NPG from the plasticizers industry. The paints and coatings industry is the largest consumer of NPG, and the demand for NPG from this industry is expected to grow at a rapid pace in the next few years. This is due to the increasing demand for paints and coatings from the construction and automotive industries. The demand for NPG from the plasticizers industry is also expected to grow at a rapid pace in the next few years. This is due to the growing demand for plasticizers from the packaging, medical, and construction industries.
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Market Segments
The neopentyl glycol (NPG) market report is bifurcated on the basis of type, application, end use, and region. On the basis of type, it is segmented into pharmaceutical grade and technical grade. Based on application, it is analyzed across paints & coatings, lubricants, plasticizers, and others. By end use, it is categorized into building & construction, industrial plant, furniture, and others. Region-wise, it is studied across North America, Europe, Asia-Pacific, and rest of the World.
Reasons to buy Neopentyl Glycol (NPG) Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
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