Neopentyl Glycol Prices in China
- China: $1315 /MT
In the fourth quarter of 2023, the price of arginine in China reached 5,477 USD per metric ton. The latest report by IMARC, titled "Neopentyl Glycol Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast, Data," delivers a comprehensive analysis of Neopentyl Glycol prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Neopentyl Glycol Prices December 2023:
- China: $1315 /MT
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The study delves into the factors affecting Neopentyl Glycol price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Neopentyl Glycol Price Trend- Q4 2023
The Neopentyl Glycol (NPG) market is primarily driven by its increasing application in the production of polyester resins, which are extensively used in coatings, fiberglass-reinforced plastics, and unsaturated polyester resins. The growing demand for powder coatings in various end-use industries such as automotive, appliances, and construction due to their advantages over conventional liquid coatings—such as higher resistance to corrosion, better performance in extreme weather conditions, and reduced environmental impact due to the absence of volatile organic compounds (VOCs)—significantly contributes to the expansion of the NPG market. Furthermore, the construction industry's robust growth worldwide, particularly in emerging economies, is escalating the demand for unsaturated polyester resins, thereby propelling the NPG market forward. Innovations and technological advancements in the production process of NPG, aimed at enhancing efficiency and sustainability, are also key factors supporting market growth. Additionally, the shift towards eco-friendly and sustainable products is encouraging the development of bio-based NPG, opening new avenues for market expansion. However, the market faces challenges such as price volatility of raw materials and regulatory constraints regarding environmental concerns. Despite these challenges, the diverse applications of NPG, coupled with ongoing research and development activities, are expected to drive its market growth in the foreseeable future.
Neopentyl Glycol Market Analysis
The global Neopentyl Glycol market 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. In the last quarter of 2023, the Neopentyl Glycol (NPG) market witnessed significant fluctuations across different regions, underpinned by a complex interplay of supply chain dynamics, geopolitical tensions, and sector-specific demand shifts. In North America, the NPG market embarked on the quarter with a modest price increase, attributed to the anticipated rise in upstream Crude Oil prices, which hinted at increased production costs. However, this initial uptick was short-lived as the market dynamics shifted due to an amalgamation of factors including surplus material availability, trade uncertainties, and notably, a weakened performance in the construction sector, which is a significant consumer of NPG. The construction sector's stability, despite high borrowing costs, did not translate into sustained demand for NPG, as evidenced by a decline in public construction spending and the impact of global logistic challenges. The logistical bottlenecks, particularly highlighted by the Panama Canal's delays and the security concerns in the Red Sea, not only disrupted global trade flows but also led to inventory build-ups and exacerbated the supply-demand imbalance. These developments collectively contributed to the downturn in NPG prices, underscoring the vulnerability of chemical markets to external geopolitical and logistic variables.
Conversely, the Asia-Pacific and European NPG markets portrayed distinct yet similarly challenged narratives. The APAC region started on a bullish note with stable supply and moderate demand but quickly transitioned to a bearish market due to diminished downstream demand and logistical challenges stemming from the Beijing conference, affecting manufacturing and transportation within the region. This situation led to a decrease in trading activity and pressured prices downward, compelling suppliers to extend discounts and negotiate more aggressively to clear inventories. In Europe, the situation was exacerbated by a lack of fresh orders from the downstream construction sector, compounded by inflationary pressures and economic slowdown, which starkly reduced NPG demand. Despite a slight improvement in the Construction PMI Total Activity Index, the persistently low demand in the construction sector, coupled with supply constraints due to contractions in the manufacturing sector, painted a bleak picture for NPG demand and pricing. These regional market dynamics, characterized by an oversupply in North America, logistical and demand-driven challenges in APAC, and economic pressures in Europe, highlighted the multifaceted influences on NPG prices, ranging from raw material costs and logistical inefficiencies to sector-specific demand and macroeconomic conditions. As the quarter unfolded, these factors collectively shaped the NPG market, revealing the intricate dependencies between chemical markets and broader economic and geopolitical landscapes.
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Key Points Covered in the Neopentyl Glycol Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Neopentyl Glycol Prices
- Neopentyl Glycol Price Trend
- Neopentyl Glycol Demand & Supply
- Neopentyl Glycol Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Neopentyl Glycol Price Analysis
- Neopentyl Glycol Industry Drivers, Restraints, and Opportunities
- Neopentyl Glycol News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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