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 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.
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
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:
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.
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.
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.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of N-Methyl-2-Pyrrolidone (NMP) market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Application
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
