Neopentyl Glycol (NPG) Prices

Neopentyl Glycol (NPG) Prices September 2024

The neopentyl glycol (NPG) prices in the United States for Q3 2024 reached 2300 USD/MT in September. The market witnessed price rise from supply disruptions due to severe weather conditions and the rising demand from construction sector. Stable feedstock prices minimized cost pressures, while a persistent supply-demand imbalance continued to support a favorable pricing environment throughout the quarter.

The price trend for neopentyl glycol (NPG) in China for Q3 2024 settled at 1535 USD/MT in September.  The prices initially surged mainly due to increase in crude oil costs and shortages. However, a drop in prices followed when raw material costs decreased, impacting production. Later, significant market interest led to a sharp rebound in prices, maintaining an overall positive trend despite the earlier fluctuations.

In Germany, the neopentyl glycol (NPG) prices for Q3 2024 reached 1940 USD/MT in September. The market witnessed price declines due to oversupply and weakened domestic demand from the construction industry. Stable feedstock prices, including formaldehyde and crude oil, hindered potential increases, reflecting a challenging pricing environment and broader European trends of reduced prices and subdued market sentiment.

Neopentyl Glycol (NPG) Prices June 2024

During Q2 2024, the neopentyl glycol (NPG) prices in the USA reached 2143 USD/MT. The market experienced a notable rise due to escalating feedstock costs and constrained supply chains. The robust demand from the paints and coatings industry, alongside a revitalized construction sector entering the spring season, significantly contributed to the price surge.

In the second quarter of 2024, NPG prices in China reached 1583 USD/MT in June. The market saw prices climb sharply, driven by increased production costs and strong demand from construction and coatings industries. Seasonal construction booms and ongoing supply chain challenges further fueled the upward price trend.

During the second quarter of 2024, NPG pricing in Germany reached 1989 USD/MT in June. The market faced a decline in prices, mainly due to reduced demand from the construction and automotive sectors. Economic uncertainties and the end of subsidies for electric vehicles significantly impacted the market, leading to lower prices.

Neopentyl Glycol (NPG) Prices March 2024

During the first quarter of 2024, the NPG prices in the USA reached 2219 USD/MT in March. The market faced a challenging quarter, with a significant drop in construction sector demand influencing market trends. Despite a downturn early in the period, the market began to show signs of stability as conditions improved.

In Q1 2024, NPG prices in Germany reached 2042 USD/MT in March. The market was marked by a decline in demand within the construction sector. Elevated interest rates and market uncertainty led to decreased activity, impacting the overall demand for NPG. However, the market managed to mirror broader European trends, hinting at underlying resilience despite current challenges.

Neopentyl Glycol (NPG) Prices December 2023

The neopentyl glycol prices in the China for Q4 2023 reached 1315 USD/MT in December. The market experienced mixed dynamics. Prices initially rose but later dropped due to supply chain disruptions and transportation restrictions. Moreover, northern manufacturing divisions faced difficulties, resulting in reduced market activity. To manage the downturn, suppliers extended discounts and negotiated aggressively, reflecting the overall bearish market sentiment.

Regional Coverage

The report provides a detailed analysis of the neopentyl glycol (NPG) market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the neopentyl glycol (NPG) price trend.

Global Neopentyl Glycol (NPG) Price

The report offers a holistic view of the global neopentyl glycol (NPG) pricing trends in the form of neopentyl glycol (NPG) price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into neopentyl glycol (NPG) historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into neopentyl glycol (NPG) price forecast models, projecting future price movements based on a variety of indicators, such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed neopentyl glycol (NPG) demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Neopentyl Glycol (NPG) Price

Q3 2024:

In Q3 2024, Europe’s neopentyl glycol market was marked by a significant downward trend, influenced by various factors impacting the market dynamics. Oversupply of both domestic and imported NPG pushed prices down as inventory levels remained high. The region’s construction industry, a key consumer, continued to face challenges with a decline in new projects, impacting overall demand. Feedstock prices, including formaldehyde and crude oil, remained steady, preventing any upward cost push that might have countered the trend. Germany exemplified the broader regional sentiment, with noticeable price fluctuations reflecting supply chain adjustments and weak industrial activity. Market participants faced difficulties balancing inventory levels and adapting to changing demand, underlining a challenging and cautious market environment.

Q2 2024:

The European NPG market faced bearish pricing in the second quarter of 2024, influenced by decreased consumption in key industries such as automotive and construction. Economic concerns, high interest rates, and unfavorable weather resulted in a reduction in construction activities, diminishing the demand for NPG. The automotive sector also saw reduced activity, especially in electric vehicle sales, following the removal of incentives, further impacting NPG demand. Germany experienced the most pronounced price declines in Europe, reflecting a broader bearish sentiment in the regional market, affected by these diverse economic and sector-specific challenges.

Q1 2024:

During the first quarter of 2024, the European NPG market experienced fluctuations in pricing. Initially, prices rose due to strong demand from the construction and coatings sectors and were further affected by disruptions in shipping routes. However, by March, the demand notably weakened, especially in Germany, where the construction industry faced challenges such as market uncertainty and high interest rates, leading to a dip in prices.

Q4 2023:

The neopentyl glycol market in Europe faced volatility during the last quarter of 2023, with significant price drops amid fluctuating supply and demand. Economic pressures, including inflation, dampened construction activity, reducing demand for NPG. The construction sector's slowdown persisted throughout the quarter, with little sign of recovery, impacting NPG orders. Despite this, a brief price increase in November occurred due to supply shortages caused by reduced manufacturing output. The construction industry's ongoing challenges were reflected in economic indices, highlighting the need for strategic adjustments by NPG market participants to navigate the uncertain landscape.

This analysis can be extended to include detailed neopentyl glycol price information for a comprehensive list of countries.

North America Neopentyl Glycol (NPG) Price

Q3 2024:

The neopentyl glycol market in North America during Q3 2024 experienced a consistent upward trend, primarily shaped by supply constraints following severe weather events such as hurricanes and storms, which disrupted production and created material shortages. The construction sector’s robust activity further fueled demand, amplifying price movements. Limited feedstock price volatility allowed supply challenges to dominate pricing dynamics. Competitive pressures and gradual restocking efforts tried to moderate prices, but strong fundamentals maintained a positive outlook. Market resilience was notable as prices maintained an upward trend amid continued economic activity in major industrial hubs.

Q2 2024:

Throughout Q2 2024, the market in North America saw a notable increase in prices. The surge was largely due to rising feedstock costs, particularly crude oil and formaldehyde, which pushed production expenses higher. Compounding this issue were challenges in supply, marked by fluctuating production costs and occasional labor shortages. This supply-demand imbalance was further stressed by strong demand from the paints and coatings industry. Concurrently, the construction industry experienced a boom during the buying season in spring, driven by various infrastructure projects like freeway interchange constructions and highway repaving in rural areas, boosting NPG consumption. The hospitality sector also showed signs of recovery with an increase in hotel construction, maintaining a steady demand for NPG in paints and coatings and construction.

Q1 2024:

The NPG market in North America displayed a primarily downward trend in pricing during the first quarter of 2024. A drop in construction sector demand significantly influenced market prices, particularly notable in January. Due to the winter holiday season, the period also saw reduced purchasing activities, which contributed further to the decline in prices. However, improved conditions in the supply chain helped to stabilize the market somewhat. By the end of the quarter, signs of recovery began to emerge despite the initial slump, indicating a potential return to more balanced market conditions.

Q4 2023:

In Q4 2023, neopentyl glycol market in North America saw initial gains before a notable price downturn. October's elevation in crude oil prices increased production costs, but by November, excess supply and trade uncertainties led to a downturn. While the construction industry held steady, manufacturing faced setbacks. Additionally, delays and rising costs in global shipping, fueled by Red Sea route disruptions and Panama Canal congestion, added to the market's challenges. Increased port inventories and adjustments in shipping routes further tightened the balance between supply and demand, reinforcing the market's downward trend.

Specific neopentyl glycol historical data within the United States and Canada can also be provided.

Middle East and Africa Neopentyl Glycol (NPG) Price

The report explores the neopentyl glycol (NPG) pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on neopentyl glycol prices for countries can also be provided.

Asia Pacific Neopentyl Glycol (NPG) Price

Q3 2024:

The Asia Pacific region’s neopentyl glycol market during Q3 2024 displayed diverse price behavior. China led the fluctuations, initially driven by higher crude oil costs and limited NPG availability, spurred by demand from industries such as coatings and paints. Mid-quarter, prices dipped due to falling raw material costs like that of formaldehyde and improved production rates. Towards the quarter’s end, the market rebounded as industrial demand surged again, highlighting the supply-demand tension and creating a favorable pricing landscape that ended on an upswing.

Q2 2024:

The Asia Pacific region witnessed a strong increase in NPG prices in the second quarter of 2024. A significant factor was the rising key feedstock prices such as crude oil and formaldehyde, which escalated manufacturing costs and NPG prices. Enhanced demand in the paints and coatings, and construction sectors due to seasonal activities contributed to this upward trend. Moreover, supply chain issues like high shipping costs and logistical constraints, coupled with geopolitical concerns and OPEC+ production cuts, further tightened the market. South Korea, in particular, mirrored this trend with a significant demand increase from the construction and automotive industries.

Q1 2024:

Throughout the initial months of 2024, the Asia Pacific market for NPG saw a continuous decline in prices, driven by reduced demand in key sectors like construction and coatings. The downturn in China’s construction industry, especially, had a profound impact on the market, with decreased real estate investments and lower construction activity dampening demand. However, March marked a slight improvement in the Chinese NPG market, suggesting a cautious optimism for recovery in the sector. This rebound was partly due to a moderate resurgence in demand, hinting at potential stabilization in the market.

Q4 2023:

The Asia-Pacific neopentyl glycol market saw fluctuating trends in late 2023, with a price surge early in the quarter giving way to declines. October's market was buoyant due to steady supply and average demand, but disruptions in northern regions, linked to transportation restrictions from the Beijing conference, hindered manufacturers. Later, as demand weakened and prices fell, suppliers reduced their emphasis on trading and offered discounts to clear inventory. The negative sentiment grew, affected by cautious market behavior and pressure from downstream sectors, leading to lower prices and more aggressive negotiations.

This neopentyl glycol price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Neopentyl Glycol (NPG) Price

The analysis of neopentyl glycol (NPG) prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Neopentyl Glycol (NPG) Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Neopentyl Glycol (NPG) (NPG) Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of neopentyl glycol (NPG) pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of the spot price of neopentyl glycol (NPG) at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of neopentyl glycol (NPG) price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing neopentyl glycol (NPG) price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Neopentyl Glycol (NPG) Market Analysis

The global neopentyl glycol industry size reached US$ 1.5 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 2.4 Billion, at a projected CAGR of 4.90% during 2023-2032.

• The market expansion is also driven by the rising need for NPG in the textile industry and electronic components. As per IMARC, the global textile market size is projected to reach USD 1,445.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
• Stringent regulations regarding volatile organic compounds (VOC) emissions and environmental impact are increasing the adoption of neopentyl glycol as a green alternative in various applications. As per the UL Solutions, the U.S. EPA regulates volatile organic compounds (VOCs) at the Federal level in 40 CFR 59, which is the National volatile organic compound emission standard for consumer and commercial products.
• Neopentyl glycol-based coatings are used in automotive refinishing applications, driven by the rising demand for vehicle refurbishment and maintenance.
• The furniture industry's need for durable and aesthetically appealing coatings and laminates is driving the demand for neopentyl glycol-based materials. As per IMARC, the global furniture market is projected to reach USD 701.7 Billion by 2023.
• The growing interest in bio-based chemicals and sustainable materials is opening up opportunities for bio-derived neopentyl glycol.
• High awareness among end-users about the superior performance, durability, and environmental benefits of neopentyl glycol-based products is driving the demand for NPG.
• Rising construction activities in various regions which is leading to the need for paints and coatings. This is further driving the use of neopentyl glycol.
• Furthermore, increasing product demand in the packaging industry due the rising use of effective packaging in the food and beverage (F&B) sector is acting as a significant impetus for market growth.
• Manufacturers are focusing on branded, customer-centric packaging solutions using only biodegradable and non-toxic materials.
• Rising worries regarding the environment is positively influencing the use of neopentyl glycol, in addition to technological innovations in chemical processing.

Neopentyl Glycol (NPG) News

The report covers the latest developments, updates, and trends impacting the global neopentyl glycol (NPG) industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in neopentyl glycol (NPG) production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the neopentyl glycol (NPG) price trend.

Latest developments in the neopentyl glycol (NPG) industry:

• July 2024: BASF and Zhejiang Guanghua Technology Co., Ltd. (KHUA) signed a letter of intent (LoI) for the supply of NPG from the Zhanjiang Verbund site of BASF to KHUA.
• July 2024: OQ Chemicals launched OxBalance Neopentyl Glycol (NPG) Diheptanoate (NPG Diheptanoate), which is a biomass-balanced light emollient ester used in cosmetics and is certified under the International Sustainability and Carbon Certification (ISCC) PLUS scheme.

Product Description

Neopentyl glycol (NPG) is a white crystalline solid that is highly soluble in water and other solvents. In coatings of all kinds, NPG acts as a crucial component in the construction unit for the production of polyester resins, which are widely used in the making of paint coatings and glues. It is used in the manufacturing of polyester resins with features such as good weathering resistance, outstanding durability, and chemical inertia--ideal for automotive coatings, architectural paints, and marine coatings, among others.

Moreover, polyester resins based on neopentyl glycol form a safer and more environment friendly coating because of their low volatility and little scent. These resins also exhibit excellent adhesion to a variety of substrates, which helps to ensure that your coatings are durable and perform well in the long run.

Neopentyl glycol also serves in the production of unsaturated polyester resins. These are then used to produce such products as fiberglass-reinforced plastics (FRP), car parts, construction materials and consumer items.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of neopentyl glycol (NPG) pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting neopentyl glycol (NPG) price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The neopentyl glycol (NPG) price charts ensure our clients remain at the forefront of the industry.