Market Overview:
Neopentyl glycol, also known as Dimethylolpropan, is a hydroscopic crystalline organic chemical compound, colorless-to-white in color. Neopentyl glycol is industrially synthesized by the aldol reaction of formaldehyde and isobutyraldehyde, which results in formation of intermediate hydroxypivaldehyde. This can be converted to neopentyl glycol through catalytic hydrogenation of aldehyde group to an alcohol group.
The major driver for global neopentyl glycol market is the increasing use of neopentyl glycol as a base resin for coatings, hydraulic fuels, greases, and aircraft engine lubricant. Resistance to oxidation, non-polar chemical nature, and enhanced stability towards heat, light, and water are some of the superior properties it possess.
Neopentyl glycol is soluble in water, benzene, chloroform, ethanol, and diethyl ether. Furthermore, its demand is increasing due to its growing use as a chemical intermediate for the synthesis of resins, polyester, alkyd resins, paints, synthetic lubricants, adhesives, and others. It is also used as a base product for plasticizers, pharmaceuticals, pesticides, fragrances, fabric softeners, vibration dampers, and others.
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The global neopentyl glycol market is expected to witness a substantial growth due to the increasing penetration of nepentyl glycol in paints and coatings, which is complementary to various end-use industries such as automotive, aerospace, ship building, construction, among others. Heavy investments in infrastructure projects in emerging countries and the new product development in pharmaceuticals and personal care products are likely to offer substantial opportunities to neopentyl glycol over the assessment period. However, the threat of substitution by availability of cheaper alternative, for instance, ethylene glycol may challenge the market growth in the coming years.
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Some of the key developments observed in the market include product launch and capacity expansion. For instance, in 2015, Perstorp invested in capacity expansion of neopentyl glycol at its advanced facility in China. Moreover, in December 2017, BASF SE and SINOPEC expanded the production capacity of neopentyl glycol of their 50-50 joint venture in Nanjing, China, which was established in 2015. The new annual production capacity will be 80, 000 metric tons and the plant will be operational in 2020.
Competitive Analysis
BASF SE
Celanese Corporation
Eastman Chemical Company
LG Chem
MITSUBISHI GAS CHEMICAL COMPANY, INC.
OXEA GmbH
Perstorp Orgnr
Polioli S.p.A.
Oleon NV
Shandong Dongchen New Technology Co,Ltd.
Industry Segmentation:
The global neopentyl glycol market is segmented by type, application, end-use industries, and region.
Neopentyl glycol is available in various types including flakes, molten, and slurry. The type to be used is determined on the basis of the conditions specified for manufacturing and application. The molten type neopentyl glycol is used in saturated polyesters, unsaturated polyesters, and esters for powder coatings, gel coats, and reinforced plastics, and synthetic lubricants respectively. The molten form is leading the market due to its wide consumption for manufacturing powder coatings, which emit less VOC. The slurry or suspension form is 90% neopentyl glycol by weight in water and is transported at a temperature ranging from 50–70ºC. The slurry form allows rapid esterification and high chemical & thermal stability. The neopentyl glycol flake is shipped at below 30ºC to prevent cake formation.
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