According to Fortune Business Insights, The global neopentyl glycol market size was valued at USD 1,327.7 million in 2024. The market is projected to grow from USD 1,407.1 million in 2025 to USD 2,219.1 million by 2032 at a CAGR of 6.7% during the forecast period. Asia Pacific dominated the neopentyl glycol market with a market share of 44.16% in 2024. Neopentyl glycol (NPG) is a versatile chemical in modern industry, prized for its role in producing high-performance coatings, resins, and plastics. This white, crystalline material offers excellent resistance to heat and oxidation, making it indispensable for crafting materials that must endure tough conditions.
Fortune Business Insights presents this information in their report titled "Neopentyl Glycol Market, 2025–2032."
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Major Players Profiled in the Report:
POLIOLI S.p.A. (Italy)
Gantrade Corporation (U.S.)
LG Chem (South Korea)
Eastman Chemical Company (U.S.)
BASF SE (Germany)
MITSUBISHI GAS CHEMICAL COMPANY, INC. (Japan)
Perstorp (Sweden)
Hefei TNJ Chemical Industry Co., Ltd. (China)
Oleon Health and Beauty (Belgium)
OQ Chemicals GmbH (Germany)
Segments:
In terms of form, the market is classified into slurry, flakes, and molten. The flakes segment commands a substantial neopentyl glycol market share due to rising requirements for premium adhesives and sealants in the automotive and construction industries. Flakes meet these demands with exceptional thermal stability and environmental resistance. Their high purity, easy storage, and efficient handling make them a go-to choice for industrial applications. Moreover, construction firms leverage these flakes for producing powder coatings, valued for their environmental benefits and tough, aesthetically pleasing finishes for building exteriors.
On the basis of the end-use industry, the market is divided into paints & coatings, construction, plastics, textiles, automotive, and others. The automotive segment takes center stage in the market due to the rapid adoption of superior coatings and sturdy plastic components. Neopentyl glycol enhances automotive coatings by boosting gloss, durability, and resistance to environmental challenges, such as UV rays, temperature fluctuations, and mechanical wear, ensuring vehicles retain their appeal over time. As the industry shifts toward lightweight designs to improve fuel economy and reduce emissions, NPG plays a crucial role in advanced composites, enabling efficient vehicle construction without sacrificing safety or durability. With an emphasis on sustainable solutions, the automotive sector’s increasing adoption of NPG is likely to drive future market growth.
From the regional ground, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Report Coverage
The thorough market research report explores important topics, such as the distribution channels, prominent product types, and the competitive environment. The report offers insightful information about current market trends and noteworthy developments in the field. It also comprises different aspects that have assisted in the recent market growth. The study provides a comprehensive analysis of these variables, providing an overall picture of the market's current and future potential. Stakeholders can use this information to create successful strategies and make well-informed decisions.
Drivers
Increasing Production of Polyurethanes and Polyesters to Foster Market Growth
Neopentyl glycol serves as a fundamental ingredient in the production of polyurethanes and polyesters, which are utilized in furniture finishes, automotive coatings, and adhesives. Its molecular structure ensures enhanced durability, extending the lifespan and reliability of these products. Neol Neopentyl Glycol Pure Liquid ZeroPCF_EU, Cradle-to-Gate: With bio-based feedstocks integrated into the value chain through the Mass Balance Chain of Custody, the product boasts a carbon footprint of <0 kgCO2e/kg, represented as 0 kgCO2e/kg of product (carbon-neutral). Additionally, a biogenic uptake of 2.1 kgCO2e/kg contributes to this eco-friendly footprint. All these factors are augmenting the neopentyl glycol market growth.
Regional Insights
Increased Urbanization and Industrialization Fuels Market Growth in Asia Pacific
Asia Pacific dominates the global market due to increased urbanization and industrialization in India, China, and Southeast Asian nations. Growing usage of neopentyl glycol for manufacturing coatings, plasticizers, lubricants, and paints is driving market expansion in the region.
Competitive Landscape
Major Producers Expand Their Production Capacities to Remain Competitive in the Market
Key players implement strategies, including mergers, partnerships, joint ventures, and collaborations, to increase their market presence. Top producers are focusing on expanding their production capacities to remain competitive in the market. Leading companies are highly investing in R&D to increase their product offerings. Competitors in the industry must offer affordable products to grow and thrive in the market.
Information Source: https://www.fortunebusinessinsights.com/neopentyl-glycol-market-110106
Key Industry Developments
July 2023: Zhejiang Guanghua Technology Co., Ltd. and BASF entered a letter of intent to provide Neopentyl glycol from the Zhanjiang Verbund site to KHUA. This collaboration will help BASF cater to the increasing demand for low-emission powder coatings in the Asia Pacific region and China.
October 2022: BASF invested in a new Neopentyl glycol in China with a production capacity of 80,000 metric tons. The new plant will boost BASF’s Neopentyl glycol capacity to 335,000 metric tons annually. The new plant will mainly cater to the growing demand for powder coatings in China.