Covid-19 Impact on Neopentyl Glycol Market to See Strong Expansion Through 2026
AUG 29,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Neopentyl Glycol Market.
Neopentyl Glycol Market is likely to witness a CAGR of 7.2% during the forecast period. The prime factor that is contributing to the demand for Neopentyl Glycol is mainly due to increasing demand for low VOC-compound and wide arrange of applications.
Neopentyl glycol is an organic chemical compound that finds use in the synthesis of paints, polyesters, lubricants, and plasticizers. Neopentyl glycol market is segmented by type into flakes, molten, and slurry; and by application type into automotive parts/insulation, construction insulation, furniture/footwear, plasticizers, electronic products, fibers, automotive/construction additives, lubricants, pharmaceuticals, agrochemicals, dyes, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
By Type
Based on the type, the market is segmented as flakes, molten, and slurry. The flakes segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. Ease in handling during storage, enhanced usability, and low maintenance in terms of transportation and application has boosted the demand for neopentyl glycol across the resin & coating industry.
By Application Type
Based on the application type, the neopentyl glycol market is segmented as automotive parts/insulation, construction insulation, furniture/footwear, plasticizers, electronic products, fibers, automotive/construction additives, lubricants, pharmaceuticals, agrochemicals, dyes, and others. The automotive parts/insulation segment dominated the market in 2020 and is expected to lead the market during the forecast period as well. Neopentyl glycol is widely used in insulation application owing to its high thermal stability.
By Region
In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market for neopentyl glycol during the forecast period, with China, Japan, India, and South Korea being the major countries with lucrative growth opportunities. Inclination towards producing environment-friendly powder coatings with low VOC emission is likely to propel the market growth across the regions. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- BASF
- Eastman Chemicals
- LG Chem
- Mitsubishi Gas Chemical
- OXEA
- Perstorp AB
- Wanhua Chemical Group
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Neopentyl Glycol Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors