Neopentyl glycol (NPG) market is projected to expand at a 4.6% CAGR between 2022 and 2028, totaling a valuation of US$ 1.93 Bn by 2028. Global neopentyl glycol (NPG) market 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.

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-YPC’s 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.

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.

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Neopentyl Glycol (NPG) Market By Category

Physical Form:

• Flakes
• Molten
• Slurry

Grade:

• Pharmaceutical Grade
• Technical Grade

Application:

• Paints & Coatings
• Adhesives & Sealants
• Lubricants
• Plasticizers
• Insulation Materials
• Others

End-Use Industry:

• Automotive & Transportation
• Building & Construction
• Industrial Plant & Equipment
• Furniture & Interiors
• Others

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, FMI’s 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.

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