Global N-Methyl-2-Pyrrolidone Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027Price: 3600/- USD | Published Date: September 15, 2020 |
The global N-Methyl-2-Pyrrolidone (NMP) market has been projected to grow at the CAGR of 5% during 2020 – 2027 and is expected to reach up to $ 1,644.4 million by 2025. N-Methyl-2-Pyrrolidone (NMP) is a colorless liquid which when impure appears to be yellow. It is known by many other names such as N-Methyl pyrrolidone, N-Methyl pyrrolidinone, which is also known as Pharmasolve and 1-Methyl-2-Pyrrolidone. N-Methyl-2-Pyrrolidone fit in the group of dipolar aprotic solvents which include dimethyl sulfoxide and dimethylformamide. It has the property of dissolve diverse metals and hence is used on a large scale in plastics and petrochemical industries. They also have applications in the pharmaceutical, agrochemical and paints & coatings industries.
N-Methyl-2-Pyrrolidone is produced by an ester to amide conversion, i.e. by treatment of methylamine with butyrolactone. The byproducts of N-Methyl-2-Pyrrolidone are used in the industries such as agrochemicals, pharmaceuticals and plasticizers among others. Pharmaceuticals accounted as the major application of N-Methyl-2-Pyrrolidone among other applications. High demand from the pharmaceutical industry has led to increasing demand for NMP in the emerging economies such as Asia Pacific, especially China and India. Stringent government policies and regulations are expected to hamper the growth of global N-Methyl-2-Pyrrolidone market in Europe and North America. Increasing research and development activities are carried out by major companies to comply with these regulations in the regions.
Market Segment Insights:
Petrochemicals, pharmaceuticals, electronics, agrochemicals and paints & coatings among others are the major applications of N-Methyl-2-Pyrrolidone. Among the above mentioned applications, pharmaceuticals accounted for the major share of the global N-Methyl-2-Pyrrolidone market in 2016. The solvency properties of N-Methyl-2-Pyrrolidone have led to high demand from the pharmaceutical sector. It is used on a large scale in the manufacture of topical as well as transdermal drugs and gels. Therefore, pharmaceuticals are the major application driving the growth of global N-Methyl-2-Pyrrolidone market. N-Methyl-2-Pyrrolidone is used in desulphurization of gases and extraction of pure hydrocarbons in the petrochemical industry. Therefore, petrochemical industry is another factor contributing to the growth of global N-Methyl-2-Pyrrolidone market. In the paints & coatings industry, N-Methyl-2-Pyrrolidone is used as solvent in acrylic, polyurethane paints and epoxy resins. Therefore, rising demand is reported for N-Methyl-2-Pyrrolidone from the paints & coatings industry. Other applications such as agrochemicals and industrial cleaners are also anticipated to boost market demand for N-Methyl-2-Pyrrolidone during the forecast period from 2020 to 2027.
Global N-Methyl-2-Pyrrolidone (NMP) Market Segmentation:
By End-User, 2018–2027 (Kilo Tons) ($ Millon)
- Paints & Coatings
- Others (Industrial Cleaners, etc.)
By Geography, 2018-2027 ($ Millon)
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East and Africa (MEA)
Asia Pacific accounted for the largest share of global N-Methyl-2-Pyrrolidone market in 2019. It accounted for more than 40% share of global N-Methyl-2-Pyrrolidone market. Increasing demand from the end-use industry is another factor promoting the growth of global N-Methyl-2-Pyrrolidone market in the region. Rising demand for resins has driven the growth of NMP in various end-use industries such as electronics in the regions such as China and India. Asia Pacific is anticipated to be the major region for high consumption if N-Methyl-2-Pyrrolidone in 2016. North America and Europe are expected to experience steady demand for NMP due to the strict regulations adopted by the region. Middle East & Africa and Latin America are also expected to boost market demand for N-Methyl-2-Pyrrolidone due to booming demand from the paints & coatings and agriculture sector in the regions during the forecast period from 2020 to 2027.
Market Competition Assessment:
The major players currently operating in the global N-Methyl-2-Pyrrolidone (NMP) market include Abtonsmart Chemicals (Group) Co., Ltd., Ashland Inc., Balaji Amines Ltd., BASF SE, E. I. du Pont de Nemours and Company, Hefei TNJ Chemical Industry Co., Ltd., LyondellBasell Industries N.V., Puyang Guangming Chemicals Co., Ltd., Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd., and Zhejiang Realsun Chemical Industry Co., Ltd.
List of Key Companies:
- Abtonsmart Chemicals (Group)Co., Ltd.
- Ashland Inc.
- Balaji Amines Ltd.
- BASF SE
- I. du Pont de Nemours and Company
- Hefei TNJ Chemical Industry Co., Ltd.
- LyondellBasell Industries N.V.
- Puyang Guangming Chemicals Co., Ltd.
- Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd.
Key Questions Answered by N-Methyl-2-Pyrrolidone (NMP) Market Report
- Global n-methyl-2-pyrrolidone (NMP) market forecasts from 2020-2027
- Regional n-methyl-2-pyrrolidone (NMP) market forecasts from 2020-2027 covering Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America
- Country level forecasts from 2020-2027 covering 15 major countries from aforementioned regions
- N-Methyl-2-Pyrrolidone (NMP) submarket forecasts from 2020-2027 covering submarket 1, submarket 2 submarket 3
- Various industry models such as SWOT analysis, Pestle Analysis, Porter’s Five Force model, Value Chain Analysis pertaining to n-methyl-2-pyrrolidone market
- Analysis of the key factors driving and restraining the growth of the global, regional and country level n-methyl-2-pyrrolidone markets from 2020-2027
- Competitive Landscape and market positioning of top 10 players operating in the n-methyl-2-pyrrolidone market
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Table of Content:
Chapter 1 Preface
1.1 Report Description
1.1.1 Purpose of the Report
1.1.2 Target Audience
1.1.3 USP and Key Offerings
1.2 Research Scope
1.3 Research Methodology
1.3.1 Phase I – Secondary Research
1.3.2 Phase II – Primary Research
1.3.3 Phase III – Expert Panel Review
Chapter 2 Executive Summary
2.1 N-Methyl-2-Pyrrolidone (NMP) Market Portraiture
2.2 N-Methyl-2-Pyrrolidone (NMP) Market, by End-User, 2019 ($ Million)
2.3 N-Methyl-2-Pyrrolidone (NMP) Market, by Geography, 2019 (Value %)
Chapter 3 Global N-Methyl-2-Pyrrolidone (NMP) Market Analysis
3.1 Global N-Methyl-2-Pyrrolidone (NMP) Market Overview
3.2 Prevalence of N-Methyl-2-Pyrrolidone (NMP)
3.3 Market Dynamics
3.3.1 Market Drivers
126.96.36.199 Growing demand for N-Methyl-2-pyrrolidone from the petrochemical industry
188.8.131.52 Stringent regulatory measures regarding specific NMP applications
3.4 Attractive Investment Proposition
3.5 Competitive Analysis: Global N-Methyl-2-Pyrrolidone (NMP) Market, 2019 (Value %)
Chapter 4 Global N-Methyl-2-Pyrrolidone (NMP) Market, By End-Use, 2018-2027 (Kilo Tons) ($ Million)
4.6 Paints & Coatings
4.7 Others (Industrial Cleaners, etc.)
Chapter 5 Global N-Methyl-2-Pyrrolidone (NMP) Market, By Geography, 2018-2027 ($ Million)
5.1 North America (U.S. & Canada)
5.2 Europe (U.K., Germany & Rest of Europe)
5.3 Asia Pacific (China, Japan, Singapore, South Korea and Rest of APAC)
5.4 Latin America (Mexico, Brazil and Rest of LATAM)
5.5 Middle East and Africa (GCC, and Rest of Middle East and Africa)
Chapter 6 Company Profiles
6.1 Abtonsmart Chemicals (Group)Co., Ltd.
6.2 Ashland Inc.
6.3 Balaji Amines Ltd.
6.4 BASF SE
6.5 E. I. du Pont de Nemours and Company
6.6 Hefei TNJ Chemical Industry Co., Ltd.
6.7 LyondellBasell Industries N.V.
6.8 Puyang Guangming Chemicals Co., Ltd.
6.9 Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd.
6.10 Zhejiang Realsun Chemical Industry Co., Ltd.
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