Future Market Insights has announced the addition of the Neopentyl Polyhydric Alcohol Market 2015-2025
Future Market Insights has announced the addition of the “Neopentyl Polyhydric Alcohol Market: Global Industry Analysis and Opportunity Assessment 2015-2025" report to their offering.
Neopentyl polyhydric alcohols is a chemical and is of 5 type which include
- Dimethylopropionic acid
- Neopenthyl glycol
Chemically speaking they contain 2-6 carbon atom and 2-3 hydroxyls in molecule.
Above mentioned types of neopentyl polyhydric alcohols find applications in automotive, construction and finished part of OEM. Hence, the demand for this chemical highly relates to the economic conditions of region as end user industries contribute a major part of country’s GDP.
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Global market for Neopentyl polyhydric alcohols is expected to witness a robust CAGR owing to its high usage in major industries.
Polyester resin manufacturing industry makes use of trimethylopropane and trimethylolethane as branching agents. Trimethylopropane also find application in automotive and baked product finishes of OEM parts. Pentaerythritol is mainly used in architectural coatings applications. Polyhydric alcohols are often blended in process while manufacturing of coating resins to balance cost and properties.
Neopenthyl glycol is estimated to be the fastest growing segment during upcoming years owing to to its usage in architectural aluminium and will be followed by pentaerythritol and trimethylopropane.
Increasing construction industry in developing economies of world like China is driving the market. Western Europe and China together account for a major chunk of revenue generated by Neopentyl polyhydric alcohols manufacturers. High use of polyester resins for powder coatings especially on architectural aluminium makes Europe an attractive market for neopentyl glycols.
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Other geographies identified with high usage of polyster resins for powder coatings include Brazil, South Africa, Southeast Asia, Middle East and Australia. United States is not estimated to be an attractive market for neopentyl polyhric alcohols because of the lower usage of powder coating on aluminium. This is mainly due to extreme weather conditions that buildings are exposed to in United States.
Major players identified in this market include Lubrizol, Kuraray, Perstorp group, and BASF SE.