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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 which 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 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 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 as 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 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. 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 wide range of industries among which electronic industry consume major share after pharmaceutical industry. NMP is used as 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 and industrial cleaners etc are also expected to fuel growth of global N-Methyl-2-Pyrrolidone market during the forecast period from 2016 to 2023.

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.

N-Methyl-2-Pyrrolidone (NMP) Market

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 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

USP and Key Offerings

The report titled “Global N-Methyl-2-Pyrrolidone Market - Growth, Share, Opportunities, and Competitive Analysis, 2016 – 2023” offers strategic insights into the global N-Methyl-2-Pyrrolidone market along with the market size and estimates for the duration 2016 to 2023. The said research study covers in-depth analysis of multiple market segments based on end-user applications, and cross-sectional study across different geographies. In order to help strategic decision makers, the report also includes competitive profiling of the leading N-Methyl-2-Pyrrolidone vendors, their expansion strategies, market positioning, and latest developments. Other in-depth analyses provided in the report include:

  • Current and future market trends to justify the forthcoming attractive markets within N-Methyl-2-Pyrrolidone industry
  • Market fuelers, market impediments, and their impact on the market growth
  • In-depth competitive environment analysis
  • Trailing 2-Year market size data (2013 – 2014)
  • SRC (Segment-Region-Country) Analysis

Overall, the research study provides a holistic view of the global N-Methyl-2-Pyrrolidone market, of growth, offering market size and estimates for the period from 2016 to 2023, keeping in mind the above mentioned factors.

On the basis of its application, the N-Methyl-2-Pyrrolidone (NMP) market is categorized into following end-use segments:

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

N-Methyl-2-Pyrrolidone (NMP) Market


Petrochemicals, pharmaceuticals, electronics, agrochemicals and paints & coatings among others are the key 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 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 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. 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 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 near future. In the paints & coatings industry, N-Methyl-2-Pyrrolidone is used as solvent in acrylic, polyurethane paints and epoxy resins. It is also used in as enamel for coating of 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. 

 

On the basis of geography, the global N-Methyl-2-Pyrrolidone (NMP) market is segmented into following categories,

  • North America
    • 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 Middle East & Africa

 

N-Methyl-2-Pyrrolidone (NMP) Market


Asia Pacific accounted for the largest share of global N-Methyl-2-Pyrrolidone market in 2015. It accounted for more than 40% share of global N-Methyl-2-Pyrrolidone market. Rising demand from the pharmaceutical sector for its use in manufacture of topical and transdermal medicine has led to growth of global N-Methyl-2-Pyrrolidone market. Growing demand from the end-use industry is another factor promoting the growth of 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 if 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. 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 2016 to 2023.

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Published Date:  Sep 2016
Category:  Chemicals
Report ID:   57795
Report Format:   PDF
Pages:   120
Rating:    4.4 (60)
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