PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476376
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1476376
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
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- Italy
- France
- Spain
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- New Zealand
- South Korea
- Rest of Asia Pacific
- South America
- Argentina
- Brazil
- Chile
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Qatar
- South Africa
- 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
- Comprehensive profiling of additional market players (up to 3)
- SWOT Analysis of key players (up to 3)
- Regional Segmentation
- Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
- Competitive Benchmarking
- 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
- Table 1 Global N-Methyl-2-Pyrrolidone Market Outlook, By Region (2021-2030) ($MN)
- Table 2 Global N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 3 Global N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 4 Global N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 5 Global N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 6 Global N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 7 Global N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 8 Global N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 9 Global N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 10 Global N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 11 Global N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 12 Global N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 13 Global N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 14 Global N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 15 Global N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 16 North America N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
- Table 17 North America N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 18 North America N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 19 North America N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 20 North America N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 21 North America N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 22 North America N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 23 North America N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 24 North America N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 25 North America N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 26 North America N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 27 North America N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 28 North America N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 29 North America N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 30 North America N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 31 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
- Table 32 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 33 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 34 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 35 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 36 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 37 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 38 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 39 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 40 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 41 Europe N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 42 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 43 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 44 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 45 Europe N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 46 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
- Table 47 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 48 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 49 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 50 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 51 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 52 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 53 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 54 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 55 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 56 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 57 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 58 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 59 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 60 Asia Pacific N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 61 South America N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
- Table 62 South America N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 63 South America N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 64 South America N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 65 South America N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 66 South America N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 67 South America N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 68 South America N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 69 South America N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 70 South America N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 71 South America N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 72 South America N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 73 South America N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 74 South America N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 75 South America N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
- Table 76 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Country (2021-2030) ($MN)
- Table 77 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Grade (2021-2030) ($MN)
- Table 78 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Technical Grade (2021-2030) ($MN)
- Table 79 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Electronic Grade (2021-2030) ($MN)
- Table 80 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Pharmaceutical Grade (2021-2030) ($MN)
- Table 81 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Application (2021-2030) ($MN)
- Table 82 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Solvent (2021-2030) ($MN)
- Table 83 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Reagent (2021-2030) ($MN)
- Table 84 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Intermediates (2021-2030) ($MN)
- Table 85 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Other Applications (2021-2030) ($MN)
- Table 86 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By End User (2021-2030) ($MN)
- Table 87 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Agrochemicals (2021-2030) ($MN)
- Table 88 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Paints & Coatings (2021-2030) ($MN)
- Table 89 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Petrochemical Processing (2021-2030) ($MN)
- Table 90 Middle East & Africa N-Methyl-2-Pyrrolidone Market Outlook, By Other End Users (2021-2030) ($MN)
