Global Neopentyl Glycol (NPG) Market: Overview
Neopentyl glycol or Dimethylolpropan, is chemical compound that is hydroscopic crystalline. It is colorless to white in color and is synthesized industrially by adol reaction of isobutyraldehyde and formaldehyde. The reaction results in production of intermediate hydroxypivaldehyde which can be converted into neopentyl glycol using catalytic hydrogenation that converts aldehyde group to an alcohol group. Since manufacturing is relatively easy for the businesses, the global neopentyl glycol market is experiencing a major boost in the forecast period of 2019 to 2027.
A report by Transparency Market Research provides in-depth analysis of global neopentyl glycol market. The report covers facets such as notable developments, major opportunities, proliferates prominent players of the global neopentyl glycol market.
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Global Neopentyl Glycol (NPG) Market: Notable Developments and Competitive Analysis
The global neopentyl glycol (NPG) market is highly competitive. The competitive landscape of the market is based on the players leveraging lucrative opportunities such as easy manufacturing and convenient raw materials availability. As a result of these benefits, the global neopentyl glycol (NPG) market is witnessing a major influx of players.
Since the competition is extreme in the global neopentyl glycol (NPG) market, businesses are adopting strategies that can help them accumulate resources to have a sustainable future in the forecast period of 2019 to 2027. Strategies such as mergers and acquisition are some tools that the players are resorting to gain an edge over their rivals.
Global Neopentyl Glycol (NPG) Market: Key Drivers
Unique Property of Compound Draws Maximum Revenue
The unique properties of the neopentyl glycol like improved scratch resistance is gaining major traction these days. The compound finds its extensive application in the manufacturing of the protective coatings that is further used by industries such as automotive, construction, and building industry. Moreover, resisting scratches also makes the compound a feasible solution in the pain manufacturing sector. Based on the rising demand for neopentyl glycol in various industries, the global neopentyl glycol (NPG) market is experiencing a major boost in the coming years.
Feasible Chemical Intermediate
The neopentyl glycol is soluble in water, benzene, chloroform, and ethanol. The solubility of the compound makes it a feasible choice for the development of chemical interface that can further help manufacturers to develop compounds smoothly. The compound helps the manufacturers in producing polyester, resins, alkyd resins, and synthetic lubricants. As a result of this hiked adoption the global neopentyl glycol (NPG) market is experiencing a major thrust in the forecast period of 2019 to 2027.
Support Space Crafts’ Re-entry to Earth
Neopentyl glycol has exceptional property of resisting heat along with physical scratches. This property is extensively beneficial for space crafts while re-entering the Earth’s atmosphere. The coating saves the craft from burning to ashes due to immense friction and extreme temperature. For instance, Space Shuttle Columbia burned to ashes while re-entering as a result of failure of its heat resistance shield. Based on the application of compound in aerospace industry, the global neopentyl glycol (NPG) market is expected to witness a robust growth in the coming years of forecast period 2019 to 2027.
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Global Neopentyl Glycol (NPG) Market: Regional Analysis
Based on the hiked demand in India and China Asia Pacific is expected to emerge as most prominent region in the global neopentyl glycol (NPG) market. The dominance of the region is the result of growing building and construction industry in China, India, and South Korea. These countries are investing a good amount in infrastructure that are meant to deal with harsh nature and various other catastrophic events. Based on these projects, Asia Pacific will dominate other region of global neopentyl glycol (NPG) market in the forecast period of 2019 to 2027.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.