Global Spiroglycol Market: Introduction
Spiroglycol (SPG) is manufactured by an intermediate of neopentyl glycol. The structure of spiroglycol is in the molecule form. The derivatives are excellent at thermal stability. The main application of spiroglycol is in polyester, polyurethan, UV cure resin, additives for synthetic resin, and others.
Global Spiroglycol Market: Trends & Developments
Increase in demand for polyester fibers, owing to their lower cost, versatility, and relatively large areas of applications is likely to drive the spiroglycol market. Moreover, rise in demand of polyester in the textile industry for the production of apparel, household textile, and industrial & consumer textile is likely to boost the spiroglycol market. Additionally, there is an increase in demand for UV cure resins in the coatings, inks, and adhesives industries as they have been developed to meet stringent regulations in Europe and North America and reduce air pollution as well as energy consumption. This is expected to drive the spiroglycol market during the forecast period.
Global Spiroglycol Market: Segmentation
The global spiroglycol market can be segmented based on material, application, and region. Based on material, the global spiroglycol market can be classified into ≥99% and?99%. In terms of application, the global spiroglycol market can be divided into polyester, polyurethane, UV cure resin, and others. UV cure resins are used in a variety of applications in the coatings, inks, and adhesives industries. UV cure resins are extensively used in inks for UV flexo, screen, and lithographic printing in over print varnishes as well as in products for potting and encapsulation of sensitive electronic elements. Polyester is often used in outerwear because of its high tenacity and durability. Polyurethane has applications in industries such as apparel, automotive, appliances, building & construction, electronics, and others. The most common use for polyurethanes in major appliances is in rigid foams for refrigerators and freezer thermal insulation systems. Polyurethane is specially formulated to meet a diverse range of physical, thermal, and electrical properties.
Global Spiroglycol Market: Regional Outlook
Based on region, the global spiroglycol market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a leading region of the spiroglycol market. In Asia Pacific, countries such as China and India accounted for major demand for spiroglycol and are characterized by the presence of a large consumer base and export-oriented industrial production. Asia Pacific is a major producer of spiroglycol. China is expected to raise investment in production capacities, which is likely to propel demand for spiroglycol during the forecast period. Moreover, an increase in demand for spiroglycol from the textile industry in Asia Pacific is projected to augment the market. North America is anticipated to provide various growth opportunities for the spiroglycol market, owing to a rise in the application of spiroglycol in polyethylene production. The market in Europe is projected to expand at a robust pace, due to a rise in the consumption of industrial solvents, mainly in Germany, Spain, and Sweden.
Global Spiroglycol Market: Key Players
Key players operating in the global spiroglycol market include Mitsubishi Gas Chemical Company, Inc., Nanyang Tianhua Pharmaceutical Co. Ltd., Cambrex Corporation, and Chemos GmbH & Co. KG.
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