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Global N-Methyl-2-Pyrrolidone (NMP) Market Share, Size, Growth, Report, Trends. Analysis, Forecast: By Application: Electronics, Petrochemicals, Agrochemicals, Paints and Coatings, Pharmaceuticals, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global N-Methyl-2-Pyrrolidone (NMP) Market Outlook
The global n-methyl-2-pyrrolidone (NMP) market size reached a value of approximately USD 1.13 billion in 2023. The market is further expected to grow at a CAGR of 5.70% between 2024 and 2032, reaching a value of USD 1.86 billion by 2032.
Key Trends in the Market
N-methyl-2-pyrrolidone is a colourless chemical compound that has excellent solvency and a high boiling point for various inorganic and organic chemical compounds. This solvent is a member of the dipolar aprotic solvent family and is produced by treating methylamine with an industrial ester. It is commonly used as a solvent and a paint stripper.
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- The key n-methyl-2-pyrrolidone market trends include increasing demands from oil and gas industry where it is heavily involved in the recovery process of butadiene, toluene, and benzene, along with lube oil purification among others. N-Methyl-2-Pyrrolidone offers high thermal and chemical stability along with solvency; such properties are expected to boost the n-methyl-2-pyrrolidone market.
- Rising refinery projects along with economic development across various emerging economies is anticipated to propel the growth of the n-methyl-2-pyrrolidone market in the upcoming years. N-methyl-2-pyrrolidone aids in extraction of aromatic hydrocarbons for mixtures containing both non- aromatic and aromatic hydrocarbons which helps in reduction of aromatic content in the vacuum gas oil fractions.
- Another crucial trend aiding the growth of the n-methyl-2-pyrrolidone market includes establishment of new production plants by the key players of the market so as to enhance their production capacities for n-methyl-2-pyrrolidone. This step is expected to increase the easy availability of n-methyl-2-pyrrolidone, thus aiding the growth of the market.
Market Analysis
On the basis of application, the market is segmented into electronics, petrochemicals, agrochemicals, paints and coatings, and pharmaceuticals. Based on region, the market is divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global n-methyl-2-pyrrolidone market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
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- LyondellBasell Industries Holdings B.V.
- BASF SE
- Ashland Inc.
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- Sankyo Chemical Co.,Ltd.
- Kairav Chemofarbe Industries Ltd.
- Prasol Chemicals Limited.
- Hefei TNJ Chemical Industry Co.,Ltd.
- Otto Chemie Pvt. Ltd.
- Others
Market Share by Application
Electronics applications of n-methyl-2-pyrrolidone account for a sizable share of the market, driven by the increasing demand for consumer and industrial electronic products. N-methyl-2-pyrrolidone is heavily utilised in manufacturing and maintenance of various electronic components. Additionally, n-methyl-2-pyrrolidone is used as a solvent for producing conformal coatings in printed circuit boards (PCBs) and as a photoresist stripper and for cleaning and degreasing functions in electronics.
Market Share by Region
The Asia Pacific region is anticipated to hold a significant share of the n-methyl-2-pyrrolidone market over the forecast period, owed to increasing industrial and economic growth, technological advancements, and low production costs in countries such as China. Furthermore, rapid growth of chemical industry in countries such as India and China are expected to offer lucrative opportunities for growth to n methyl 2 pyrrolidone (NMP) market in the Asia Pacific region. Rising applications of n-methyl-2-pyrrolidone in industries such as paints and coatings, pharmaceuticals, electronics, and oil and gas are further boosting the growth of the market in the Asia Pacific region.
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Competitive Landscape
LyondellBasell Industries Holdings B.V. is a chemical manufacturing company that was founded in 2007 and is based in Texas, United States. The company’s technologies, products, and materials are advancing sustainable solutions for healthcare, food safety, and fuel efficiency.
BASF SE is a chemical manufacturing company that was founded in 1865 and is based in Ludwigshafen, Germany. They are one of the largest chemical producers in the world, with joint ventures and subsidiaries in more than 80 countries with over 390 production sites and products catering to a wide range of industries.
Ashland Inc. is a chemical manufacturing company that was founded in 1924 and is based in Delaware, United States. A chemical manufacturing company, they serve a wide range of industrial and consumer markets including automotive, food and beverage, personal care, nutraceuticals, construction, energy, architectural coatings, and pharmaceuticals.
Other market players include Eastman Chemical Company, Mitsubishi Chemical Corporation, Sankyo Chemical Co.,Ltd., Kairav Chemofarbe Industries Ltd., Prasol Chemicals Limited., Hefei TNJ Chemical Industry Co.,Ltd., and Otto Chemie Pvt. Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global N-Methyl-2-Pyrrolidone (NMP) Market Analysis
8.1 Key Industry Highlights
8.2 Global N-Methyl-2-Pyrrolidone (NMP) Historical Market (2018-2023)
8.3 Global N-Methyl-2-Pyrrolidone (NMP) Market Forecast (2024-2032)
8.4 Global N-Methyl-2-Pyrrolidone (NMP) Market by Application
8.4.1 Electronics
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.2 Petrochemicals
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.3 Agrochemicals
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2023)
8.4.3.3 Forecast Trend (2024-2032)
8.4.4 Paints and Coatings
8.4.4.1 Market Share
8.4.4.2 Historical Trend (2018-2023)
8.4.4.3 Forecast Trend (2024-2032)
8.4.5 Pharmaceuticals
8.4.5.1 Market Share
8.4.5.2 Historical Trend (2018-2023)
8.4.5.3 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global N-Methyl-2-Pyrrolidone (NMP) Market by Region
8.5.1 North America
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Europe
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Asia Pacific
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Latin America
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Middle East and Africa
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2023)
8.5.5.3 Forecast Trend (2024-2032)
9 North America N-Methyl-2-Pyrrolidone (NMP) Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe N-Methyl-2-Pyrrolidone (NMP) Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific N-Methyl-2-Pyrrolidone (NMP) Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America N-Methyl-2-Pyrrolidone (NMP) Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa N-Methyl-2-Pyrrolidone (NMP) Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 LyondellBasell Industries Holdings B.V.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 BASF SE
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Ashland Inc.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Eastman Chemical Company
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Mitsubishi Chemical Corporation
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Sankyo Chemical Co.,Ltd.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Kairav Chemofarbe Industries Ltd.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Prasol Chemicals Limited.
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Hefei TNJ Chemical Industry Co.,Ltd.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Otto Chemie Pvt. Ltd.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global N-Methyl-2-Pyrrolidone (NMP) Market: Key Industry Highlights, 2018 and 2032
2. Global N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Application (USD Million), 2018-2023
3. Global N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Application (USD Million), 2024-2032
4. Global N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Region (USD Million), 2018-2023
5. Global N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Region (USD Million), 2024-2032
6. North America N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Country (USD Million), 2018-2023
7. North America N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Country (USD Million), 2024-2032
8. Europe N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Country (USD Million), 2018-2023
9. Europe N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Asia Pacific N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Country (USD Million), 2018-2023
11. Asia Pacific N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Latin America N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Country (USD Million), 2018-2023
13. Latin America N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Middle East and Africa N-Methyl-2-Pyrrolidone (NMP) Historical Market: Breakup by Country (USD Million), 2018-2023
15. Middle East and Africa N-Methyl-2-Pyrrolidone (NMP) Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Global N-Methyl-2-Pyrrolidone (NMP) Market Structure
Key Questions Answered in the Report
The market size reached a value of approximately USD 1.13 billion in 2023.
The market is expected to grow at a CAGR of 5.70% between 2024 and 2032.
The market for is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 1.86 billion by 2032.
The major market drivers include rising production of lithium-ion batteries and increasing utilisation of n-methyl-2-pyrrolidone in agrochemical production.
The key trends fuelling the growth of the market include increasing demands from oil and gas industry, rising use of n-methyl-2-pyrrolidone in refinery projects, and establishment of new production plants by the key market players.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant applications of n-methyl-2-pyrrolidone in the market are electronics, petrochemicals, agrochemicals, paints and coatings, and pharmaceuticals, among others.
The key players in the global n-methyl-2-pyrrolidone market are LyondellBasell Industries Holdings B.V., BASF SE, Ashland Inc., Eastman Chemical Company, Mitsubishi Chemical Corporation, Sankyo Chemical Co.,Ltd., Kairav Chemofarbe Industries Ltd., Prasol Chemicals Limited., Hefei TNJ Chemical Industry Co.,Ltd., and Otto Chemie Pvt. Ltd., among others.
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