The neopentyl glycol (NPG) market is driven by its demand from polyester resins industry for a variety of coating solutions.
Albany, NY -- (SBWIRE) -- 09/21/2015 -- Neopentyl Glycol (NPG) is a clear colorless organic compound with a mild minty odor. It is miscible with organic solvents and insoluble in water. It is manufactured synthetically in the industry through a two step process. First step involves an aldol reaction of formaldehyde with isobutyraldehyde which yields an intermediate chemical called hydroxypivaldehyde. The intermediate chemical hydroxypivaldehyde is then subjected to catalytic dehydrogenation to convert an aldehyde group to alcohol group to obtain neopentyl glycol (NPG). Neopentyl glycol (NPG) can be irritating and harmful if inhaled or comes in contact with skin or eyes. Neopentyl glycol (NPG) ingestion is known to cause severe burning in mouth and the digestive tract accompanied with pain. It is a possible carcinogen with a flash point around 200 degrees Celcius and may form explosive peroxides. Commercially, Neopentyl Glycol (NPG) is shipped in the form of flakes, slurry or molten state.
Neopentyl Glycol (NPG) is primarily used as an ingredient for the synthesis of polyesters, lubricants, plasticizers and paints. It is utilized by automotive industry, original equipment manufacturers (OEM), synthetic resins manufacturers and other plastic and polymer manufacturers. Neopentyl glycol (NPG) is employed to enhance the stability of the polyester resin and increase its resistance against light, water, heat and chemicals to provide a longer a product life. Other applications for Neopentyl Glycol include furniture, footwear, insulation coatings, adhesives and pharmaceuticals among others.
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The polyester resins manufactured from neopentyl glycol (NPG) find wide range of application in the automotive, construction, furniture, electronics, lubricants, and plasticizer industries. However, substitutability of neopentyl glycol (NPG) with ethylene glycol is expected to be the major restraining factor for the neopentyl glycol (NPG) market. New product applications in the pharmaceutical formulations could be a prospective market opportunity for further demand growth.
In terms of geography, Asia Pacific is the largest consumer of neopentyl glycol (NPG) riding on high sales of coatings application to its large and rapidly growing industrial sector. Major industrial economies including China, India, Japan and South Korea are the major consumers of neopentyl glycol (NPG) for application in a variety of coating, lubrication, paint and plasticizer applications in automotive, construction, electronics and textile industries in the region. Two of the most populated countries, China and India are situated in Asia. Both these countries are growing rapidly and witnessing rising disposable income and purchase power parity of the general population. This in turn is expected to drive demand for consumer goods such as furniture, footwear, electronic products, automotives, pharmaceuticals, etc., and further for neopentyl glycol (NPG) application in these products. Europe is the second largest consumer of neopentyl glycol (NPG), especially in the automotive and OEM sector. The demand for neopentyl glycol (NPG) is als driven by high use of polyester resins in powder coatings. North America is another major consumer for neopentyl glycol (NPG) due to its demand for lubricants and plasticizer industry. In Rest of the World, Brazil, Argentina and South Africa contribute to major demand for the market.
Some of the key market players include BASF, Sinopec, Eastman chemical company, LGchem, Mitsubishi Gas Chemical, Perstorp, Celanese, Polioli, Shandong Dongchen, Shandong Guanghe and Shandong Linzi Yongliu. Other major players include TCI America, Unitex Chemical Corporation and Spectrum Chemicals among many others.
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