N-METHYL-2-PYROLLIDONE MARKET | Coherent Market Insights

1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ Covid-19 Impact Tracker

2. N-Methyl-2-Pyrrolidone Market Analysis • N-Methyl-2-Pyrrolidone Market, By Application (Electronics, Petrochemical Processing, Agrochemicals, Pharmaceuticals, Paints & coatings, Industrial cleaners, Others), By Region (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. The global N-methyl-2-pyrrolidone market is projected to surpass US$ 1400 million by the end of 2027, in terms of revenue, growing at CAGR of 5.4% during the forecast period (2020 to 2027). Drivers: • Growing demand for N-Methyl-2-Pyrrolidone from the electronic industry is expected to propel the market growth. The growth of the N-Methyl-2-Pyrrolidone market is also attributed to growth in the electronic industry due to the increasing production of consumer electronic products. Moreover, increasing per capita income of the consumer due to economic growth is further expected to accelerate the market growth of N-Methyl-2-Pyrrolidone over the forecast period.

4. Rising demand for N-Methyl-2-Pyrrolidone from the automotive industry in terms of electronic inputs to vehicles is projected to augment market growth. Moreover, increasing industrialization coupled with the growth rising demand for NMP from the pharmaceutical industry is again expected to accelerate the market growth of N-Methyl-2-Pyrrolidone over the forecast period. • Regionally, Asia Pacific dominated the global N-methyl-2-pyrrolidone market in 2019, reporting 33% market share in terms of revenue , followed by North America and Europe, respectively.

5. Figure 1. Global N-Methyl-2-Pyrrolidone Market, Revenue Share (%), By Region, 2019

6. Market Restraints • Side-effects associated with the prolonged exposure to NMP are projected to restrict the use of the product which in turn hampering the market growth. Prolonged exposure to NMP may cause skin, eye irritation, and other health issues which are expected to limit the use of N-Methyl-2-Pyrrolidone • Increasing focus of manufacturers on conducting various R&D activities in order to develop an ideal substitute of NMP with toxicity is expected to accelerate the market growth over the forecast period.

7. Market Opportunities • The rising demand for N-Methyl-2-Pyrrolidone from pharmaceutical industry is expected to propel the market growth over the forecast timeframe. Increasing demand for industrial cleaners is expected to turn out to be a potential application area for N-Methyl-2-Pyrrolidone. Rising use of NMP as coalescing solvent in waterborne paints and solvent-borne coatings is further expected to augment the market growth of the NMP in the near future.

8. Increasing application of NMP in the manufacturing of magnetic wire coatings is expected to propel the market growth. Growing demand for Li-ion batteries for various electronic products is also expected to augment the market growth of N-Methyl-2-Pyrrolidone. Moreover, the flourishing chemical industry is another major factor offering lucrative opportunities to the market of N-Methyl-2-Pyrrolidone over the forecast period.

9. Figure 2. Global N-Methyl-2-PyrrolidoneMarket – Opportunity Analysis

10. Market Trends • Growth in the refinery projects coupled with the economic development across emerging countries such as China and India is expected to augment the market growth of N-Methyl-2-Pyrrolidone over the forecast period. Moreover, the low cost of production of NMP and various companies are adopting smart strategies such as marketing their product offering in the market which is further expected to accelerate the market growth of NMP over the forecast period. • Regional as well as the global expansion is another major step undertaken by the manufacturer in order to meet the rising demand for NMP among consumers. The various manufacturer is also establishing new production plants in order to increase the production capacities of the NMP. This moves by major players will favor the market growth N-Methyl-2-Pyrrolidone over the forecast period.

11. Figure 3. Global N-Methyl-2-Pyrrolidone Market, Revenue Share (%), By Application, In 2019

12. Competitive Section • Key players are operating in the global N-methyl-2-pyrrolidone market are BASF SE, LyondellBasell Industries N.V., Ashland Inc., Shandong QingyunChangxin Chemical Science-Tech Co., Ltd.,Hefei TNJ Chemical Industry Co., Ltd., PuyangGuangming Chemicals Co., Ltd., Zhejiang Realsun Chemical Industry Co., Ltd., Abtonsmart Chemical Co. Ltd., and Balaji Amines Limited.

13. Request Sample Report • Download PDF Brochure • Request Discount • Talk To Analyst • Reference https://www.coherentmarketinsights.com/market-insight/n-methyl-2-pyrrolidone-market-3860

14. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Service • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

15. Contact Us: Mr. Shah Coherent Market Insights Pvt.Ltd. Address: 1001 4th Ave, #3200 Seattle, WA 98154, U.S. Phone: +1-206-701-6702 Email: sales@coherentmarketinsights.com

16. Thank You! Kindly follow CMI Social Media Profiles for latest company updates. Facebook Linkedin Twitter https://www.coherentmarketinsights.com/