Future Market Insights has announced the addition of the "Neopentyl Glycol (NPG) Market is set to garner staggering revenues by 2018 - 2028" report to their offering
Valley Cottage, NY -- (SBWIRE) -- 12/12/2018 -- Consumer durable products are turning over as a prerequisite part of advanced & modern life. Majority of these products are derived from the various chemicals, among these chemical one of the most important and most consumed chemicals are polyols. Polyols with multi hydroxyl functional group such as diols, triols and tetrols are used in the production and synthesis of numerous synthetic polymeric products such as polyesters, polyurethanes, polyether polyols and more.Neopentyl glycol (NPG) is falls under the category of polyols
NPG is increasingly gaining traction and turning over as one of the chemical intermediate for the synthesis of numerous synthetic resins, polyester, alkyd resins, paints, plasticizers, polycarbonate resins, synthetic lubricants, and adhesives. It is further adopted and utilized by numerous automotive OEM's, plastic manufacturers and other synthetic resin manufacturers. NPG enhances the stability of polyester resin and further increased its resistance against light, chemicals and heat which further enables longer & enhanced product life.
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NPG and its derived product has found application in very large scale in the field of magnetic coatings, water based coatings , powder coatings, metal working fluids, aircraft engine lubricants, gel coats, coil coatings and multilayer coatings. It is also used for as a base product for the synthesis of adhesives, plasticizers, lubricants, mortar & cement system, plasticizers, pharmaceuticals, pesticides, fabric softeners and many more.
In the last few year there is substantial increase in the demand for NPG and its derivatives and the same roadmap is forecasted to be followed in the next 8-10 years. The main reason implicit behind this trend is the increase in the usage of paints and coatings in numerous number of industries such as automotive, aerospace to name a few. Much of the growth is associated with the healthy macroeconomic conditions & complex and heavily funded infrastructure projects in emerging countries and economies. Also major players in the region kept on enhancing the production capabilities in order to maintain the effective supply to the consumers. Also the companies are in a quest of adding new technologies with efficient reaction mechanism in order to enhance production capacities. Well lined up arrangements has aided companies to drop down their overall operational cost by 25-30%.
However the cheaper alternative such as ethylene glycol for various application may dents its growth in the near future. On the other hand new product development for niche application such as pharmaceutical is one of the prospective growth opportunity.
Product definition and Segmentation
Neopentyl glycol is one of the most consumed polyol with a unique chemical structure. With two hydroxyl and two methyl groups the chemical shows high thermal and chemical stability along with high weather ability and crystallinity. It is also used as a base product for the synthesis of synthetic lubricating esters which has reduced vulnerability towards oxidation when compared to natural esters. The NPG is synthesized from isobutyraldehyde and formaldehyde. On the commercial scale there are two methods available for the synthesis of NPG which are Aldol Condensation and Cannizzaro process technology out of which aldol condensation is gaining traction.
Global Neopentyl Glycol: Market Segmentation
On the basis of physical form, the global Neopentyl Glycol market has been segmented as:
On the basis of Production method, the global Neopentyl Glycol market has been segmented as:
Hydrogenation of HPA
Disproportionation (Cannizzaro process)
On the basis of application, the global Neopentyl Glycol market has been segmented as:
Plasticizers & Adhesives
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Factors Affecting the Growth of Neopentyl Glycol Market and Their Impact
Global Neopentyl Glycol Market: Key Players
Examples of some of the key players operating in the global Neopentyl Glycol market are BASF AG, Eastman Chemicals, LG Chem , Mitsubishi Gas Chemical , OXEA , Polioli , Celanese, Perstorp AB ,Shandong Linzi Yongliu, Shandong Guanghe , Shandong Dongchen , Zouping Fenlian and Shandong Kangte Weiye among others.