N Methyl 2 Pyrrolidone Market
N-Methyl-2-Pyrrolidone Market Forecasts to 2030 - Global Analysis By Grade (Technical Grade, Electronic Grade and Pharmaceutical Grade), Application, End User and By Geography
According to Stratistics MRC, the Global N-Methyl-2-Pyrrolidone Market is accounted for $1.1 billion in 2023 and is expected to reach $2.0 billion by 2030 growing at a CAGR of 8.1% during the forecast period. N-Methyl-2-pyrrolidone (NMP) is an organic compound with the chemical formula C5H9NO. It's a colorless to slightly yellow liquid that is miscible with water and many organic solvents. NMP finds extensive use as a solvent in various industries, including pharmaceuticals, electronics, plastics, and coatings. Its high solvency power makes it valuable for dissolving a wide range of substances, and its relatively low volatility at room temperature adds to its utility in industrial processes.
According to the National Invest Production and Facilitation Agency, the global market for consumer electronics was estimated to be worth US$ 1.10 trillion in 2021 and is estimated to grow to about US$ 1.70 trillion by 2028.
Market Dynamics:
Driver:
Demand for sustainable solvents
The market is experiencing a notable surge in demand for sustainable solvents. This trend reflects an industry shift towards eco-friendly practices and compliance with stringent regulations. Stakeholders are increasingly prioritizing suppliers that offer bio-based or renewable options, driving innovation in sustainable solvent formulations. This emphasis on environmental responsibility is reshaping the market landscape, with projections indicating sustained growth in the adoption of green solvents.
Restraint:
Health and environmental concerns
Health and environmental concerns in the market revolve around its potential reproductive toxicity and environmental persistence. Their exposure has been linked to adverse effects on fertility and development in humans, prompting regulatory scrutiny and safety measures. Furthermore, its slow degradation and potential for bioaccumulation raise environmental worries, especially regarding aquatic ecosystems. Stricter regulations and research into safer alternatives are imperative to mitigate these health and environmental risks associated with use.
Opportunity:
High performance in electronics
With its excellent solvent properties and compatibility with various materials, NMP has become indispensable in electronics manufacturing processes. Its use in semiconductor cleaning, polymer processing, and electronic component production has contributed significantly to its market expansion. Moreover, their ability to dissolve a wide range of substances without causing damage makes it a preferred choice in the electronics industry, driving its growth and demand.
Threat:
Price fluctuations
The market has experienced significant price fluctuations due to various factors. Demand-supply dynamics, raw material costs, regulatory changes, and global economic conditions contribute to these shifts. For instance, increased demand from industries like electronics and pharmaceuticals can drive prices up, while supply chain disruptions or regulatory restrictions may lead to price drops. Market players closely monitor these factors to make informed decisions and adapt their strategies accordingly, navigating the volatility of the market.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the N-Methyl-2-Pyrrolidone (NMP) market. With lockdowns and supply chain disruptions, demand in various industries like pharmaceuticals, electronics, and petrochemicals experienced fluctuations. The reduced industrial activities initially led to a decline in demand, causing market uncertainties and price fluctuations. However, as industries adapted to the new normal and with the resurgence of manufacturing activities, the market gradually stabilized, albeit with ongoing challenges related to supply chain resilience and market dynamics.
The intermediates segment is expected to be the largest during the forecast period
The intermediates segment is expected to be the largest during the forecast period. These intermediates, such as 2-Pyrrolidone and N-Methylacetamide, contribute significantly to the production of pharmaceuticals, polymers, and electronic materials. As demand continues to rise across industries, the availability and development of high-quality intermediates become paramount for ensuring a sustainable and competitive market environment.
The agrochemicals segment is expected to have the highest CAGR during the forecast period
The agrochemicals segment is expected to have the highest CAGR during the forecast period due to its versatile applications as a solvent and co-solvent in pesticide formulations. With an emphasis on environmental sustainability and regulatory compliance, manufacturers are developing eco-friendly formulations that utilize effectively. This trend is driving the demand in the agrochemical sector, leading to a competitive market landscape characterized by innovation and stringent quality standards.
Region with largest share:
North America is projected to hold the largest market share during the forecast period. Factors such as technological advancements, increasing demand for high-performance solvents, and stringent environmental regulations favouring the use have contributed to market expansion. Additionally, the region's robust manufacturing sector and investments in research and development further support the market's positive trajectory, with anticipated continued growth.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period. The region is a significant market for NMP, driven by the rapid industrialization and growing demand for electronics, pharmaceuticals, and specialty chemicals. The market size has been expanding steadily, fueled by increasing manufacturing activities across various sectors. The growing healthcare industry in the region, coupled with rising investments in pharmaceutical manufacturing, has boosted the demand for the market.
Key players in the market
Some of the key players in N-Methyl-2-Pyrrolidone market include Shandong Synmiway Chemical Group, BASF SE, Mitsubishi Chemical, Dupont, LyondellBasell Industries N.V.,, Puyang Guangming, Ashland Inc., Binzhou Yuneng, Zhejiang Realsun, Taizhou Yanling, Nanjing Jinlong, Shandong Qingyun Changxin, LyondellBasell, Eastman and Puyang MYJ.
Key Developments:
In October 2022, LyondellBasell announced that PT Polytama Propindo would use LyondellBasell's Spheripol technology for the expansion of its existing facility. The process technology would be used for an additional 300 KTA polypropylene plant to be built in Balongan, West Java, Indonesia, which is expected to be completed in 2024.
In August 2022, BASF SE announced its intention to increase the production of N-Octyl-2-Pyrrolidone (NOP) and N-(2-Hydroxyethyl)-2-Pyrrolidone (HEP) at its Louisiana facility.
Grades Covered:
• Technical Grade
• Electronic Grade
• Pharmaceutical Grade
Applications Covered:
• Solvent
• Reagent
• Intermediates
• Other Applications
End Users Covered:
• Agrochemicals
• Paints & Coatings
• Petrochemical Processing
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global N-Methyl-2-Pyrrolidone Market, By Grade
5.1 Introduction
5.2 Technical Grade
5.3 Electronic Grade
5.4 Pharmaceutical Grade
6 Global N-Methyl-2-Pyrrolidone Market, By Application
6.1 Introduction
6.2 Solvent
6.3 Reagent
6.4 Intermediates
6.5 Other Applications
7 Global N-Methyl-2-Pyrrolidone Market, By End User
7.1 Introduction
7.2 Agrochemicals
7.3 Paints & Coatings
7.4 Petrochemical Processing
7.5 Other End Users
8 Global N-Methyl-2-Pyrrolidone Market, By Geography
8.1 Introduction
8.2 North America
8.2.1 US
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 UK
8.3.3 Italy
8.3.4 France
8.3.5 Spain
8.3.6 Rest of Europe
8.4 Asia Pacific
8.4.1 Japan
8.4.2 China
8.4.3 India
8.4.4 Australia
8.4.5 New Zealand
8.4.6 South Korea
8.4.7 Rest of Asia Pacific
8.5 South America
8.5.1 Argentina
8.5.2 Brazil
8.5.3 Chile
8.5.4 Rest of South America
8.6 Middle East & Africa
8.6.1 Saudi Arabia
8.6.2 UAE
8.6.3 Qatar
8.6.4 South Africa
8.6.5 Rest of Middle East & Africa
9 Key Developments
9.1 Agreements, Partnerships, Collaborations and Joint Ventures
9.2 Acquisitions & Mergers
9.3 New Product Launch
9.4 Expansions
9.5 Other Key Strategies
10 Company Profiling
10.1 Shandong Synmiway Chemical Group
10.2 BASF SE
10.3 Mitsubishi Chemical
10.4 Dupont
10.5 LyondellBasell Industries N.V.,
10.6 Puyang Guangming
10.7 Ashland Inc.
10.8 Binzhou Yuneng
10.9 Zhejiang Realsun
10.10 Taizhou Yanling
10.11 Nanjing Jinlong
10.12 Shandong Qingyun Changxin
10.13 LyondellBasell
10.14 Eastman
10.15 Puyang MYJ
List of Tables
1 Global N-Methyl-2-Pyrrolidone Market Outlook, By Region (2021-2030) ($MN)
2 Global N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
3 Global N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
4 Global N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
5 Global N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
6 Global N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
7 Global N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
8 Global N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
9 Global N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
10 Global N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
11 Global N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
12 Global N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
13 Global N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
14 Global N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
15 Global N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
16 North America N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
17 North America N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
18 North America N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
19 North America N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
20 North America N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
21 North America N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
22 North America N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
23 North America N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
24 North America N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
25 North America N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
26 North America N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
27 North America N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
28 North America N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
29 North America N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
30 North America N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
31 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
32 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
33 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
34 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
35 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
36 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
37 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
38 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
39 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
40 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
41 Europe N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
42 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
43 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
44 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
45 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
46 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
47 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
48 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
49 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
50 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
51 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
52 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
53 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
54 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
55 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
56 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
57 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
58 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
59 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
60 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
61 South America N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
62 South America N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
63 South America N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
64 South America N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
65 South America N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
66 South America N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
67 South America N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
68 South America N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
69 South America N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
70 South America N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
71 South America N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
72 South America N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
73 South America N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
74 South America N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
75 South America N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
76 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
77 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
78 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
79 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
80 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
81 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
82 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
83 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
84 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
85 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
86 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
87 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
88 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
89 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
90 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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