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N-Methyl-2-Pyrrolidone (NMP) Market By End User (Petrochemicals, Electronics, Pharmaceuticals, Agrochemicals, Paints & Coatings) - Growth, Share, Opportunities & Competitive Analysis, 2016 - 2023

N-Methyl-2-Pyrrolidone (NMP) is a colorless liquid that, when impure, appears to be yellow. It is miscible with almost all organic solvents and water. It is known by many other names, such as N-Methylpyrrolidone, N-Methylpyrrolidinone, which is also known as Pharmasolve, and 1-Methyl-2-Pyrrolidone. N-Methyl-2-Pyrrolidone fits in the group of dipolar aprotic solvents, which include dimethyl sulfoxide and dimethylformamide. It has the property of dissolving diverse metals and 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 on an industrial scale. It is produced by an ester-to-amide conversion, i.e., by treatment of methylamine with butyrolactone. Other processes adopted to produce N-Methyl-2-Pyrrolidone are by reaction of acrylonitrile with methylamine which is further carried out by hydrolysis and by partial hydrogenation of N-methylsuccinimide.

The derivatives of N-Methyl-2-Pyrrolidone are used in the industries such as agrochemicals, pharmaceuticals, and plasticizers, among others. Pharmaceuticals accounted for the major application of N-Methyl-2-Pyrrolidone, among other applications. High demand from the pharmaceutical industry has led to booming demand for NMP in emerging economies such as the Asia Pacific, especially China and India. Stringent government policies and regulations are expected to hamper the growth of the global N-Methyl-2-Pyrrolidone market in Europe and North America.

However, increasing research and development activities are carried out by major companies to comply with these regulations in the regions. NMP, owing to its solvent property, is used in many industries, among which the electronic industry consumes a major share after the pharmaceutical industry. NMP is a solvent for surface treatment of metal-coated plastic and resins. Therefore, electronics followed pharmaceuticals in terms of demand for NMP in the market. Other applications, such as paints & coatings, agrochemicals, industrial cleaners, etc., are also expected to fuel the growth of the global N-Methyl-2-Pyrrolidone market during the forecast period from 2016 to 2023.

The n-Methyl-2-Pyrrolidone market was valued at US$ 1,123.5 Mn in 2015 and is expected to reach US$ 1,644.4 Mn by 2023, growing at a CAGR of 5.0% during the forecast period 2016-2023.

Purpose of the Report

The purpose of this strategic research study titled “Global N-Methyl-2-Pyrrolidone Market - Growth, Share, Opportunities, and Competitive Analysis, 2016– 2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global N-Methyl-2-Pyrrolidone market.

Target Audience

  • Industry Investors
  • N-Methyl-2-Pyrrolidone Providers/Vendors
  • Research Professionals
  • Emerging Companies
  • Raw Material Suppliers/ Buyers
  • Product Suppliers/ Buyers
  • Research Institutes

Overall, the research study provides:

  • A holistic view of the global N-Methyl-2-Pyrrolidone market growth.
  • Offering market size and estimates for the period from 2016 to 2023.
  • Keeping in mind the abovementioned factors.

Based on its application, the N-Methyl-2-Pyrrolidone (NMP) market is categorized into the following end-user segments:

  • Petrochemicals
  • Electronics
  • Pharmaceuticals
  • Agrochemicals
  • Paints & Coatings
  • Others (Industrial Cleaners, etc.)

Petrochemicals, pharmaceuticals, electronics, agrochemicals, paints & coatings, among others, are the key applications of N-Methyl-2-Pyrrolidone. Among the applications mentioned above, pharmaceuticals accounted for the global N-Methyl-2-Pyrrolidone market in 2015. The solvency properties of N-Methyl-2-Pyrrolidone have led to high demand from the pharmaceutical sector. It is used on a large scale to manufacture topical and transdermal drugs and gels. Therefore, pharmaceuticals are the major application driving the growth of the global N-Methyl-2-Pyrrolidone market. Electronics followed pharmaceuticals in terms of demand due to the bulk demand for various applications in the electronic industry worldwide.

N-Methyl-2-Pyrrolidone is used in desulphurizing gases and extracting pure hydrocarbons in the petrochemical industry. Therefore, the petrochemical industry is another factor contributing to the growth of the global N-Methyl-2-Pyrrolidone market. In the paints & coatings industry, N-Methyl-2-Pyrrolidone is used as a solvent in acrylic, polyurethane paints, and epoxy resins. It is also used as enamel for coating wires. 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 2016 to 2023.

Based on geography, the global N-Methyl-2-Pyrrolidone (NMP) market is segmented into the following categories

  • North America
  • The U.S.
  • Canada
  • Europe
  • France
  • Germany
  • UK
  • Rest of Europe
  • Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia Pacific
  • Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of the Middle East & Africa

The Asia Pacific accounted for the largest global N-Methyl-2-Pyrrolidone market in 2015. It accounted for more than 40% share of the global N-Methyl-2-Pyrrolidone market. Rising demand from the pharmaceutical sector for its use in the manufacture of topical and transdermal medicine has led to the growth of the global N-Methyl-2-Pyrrolidone market. Growing demand from the end-use industry is another factor promoting the growth of the global N-Methyl-2-Pyrrolidone market in the region. Growing 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.

Hence, Asia Pacific is anticipated to be the major region for high consumption of N-Methyl-2-Pyrrolidone in 2015. North America and Europe are expected to experience steady demand for NMP due to the strict regulations adopted by the region. NMP is stated to be the reproductive and developmental toxin due to which it experiences steady demand in the regions such as Europe and North America. The 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 sectors in the regions during the forecast period from 2016 to 2023.

Frequently Asked Questions:

The market for N-Methyl-2-Pyrrolidone (NMP) is expected to reach US$ 1,644.4 Mn by 2023.

The N-Methyl-2-Pyrrolidone (NMP) market is expected to see significant CAGR growth over the coming years, at 5.0%.

The report is forecasted from 2016-2023.

The base year of this report is 2015.

Abtonsmart Chemicals (Group)Co.,Ltd 70, Ashland Inc 71, Balaji Amines Ltd 73, BASF SE 74, E. I. du Pont de Nemours and Company 76, Hefei TNJ Chemical Industry Co., Ltd 78, LyondellBasell Industries N.V. 79, Puyang Guangming Chemicals Co., Ltd 81,Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd 82 are some of the major players in the global market.

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Published Date:  Sep 2016
Category:  Chemicals
Report ID:   57795
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
Delivery Time: 24 Hours to 48 Hours   
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