Published by Coherent Market Insights
Posted on September 22, 2021
N-Methyl-2-Pyrrolidone is a chemical compound with a high boiling point and excellent solvency for a wide range of organic and inorganic chemical compounds. It has high thermal and chemical stability which makes it ideal for use in coating resins and engineering polymers application. It is also used as a cleaning and paint stripping solvent agent due to its low surface tension and low surface tension. N-Methyl-2-Pyrrolidone can be used in the formulation and synthesis of various electronic products, polymers, and paints and coatings. Petrochemical, agrochemicals, and wire wrappers are some of the other applications of N-Methyl-2-Pyrrolidone.
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).
Top Key Players in N-Methyl-2-Pyrrolidone market: BASF SE, LyondellBasell Industries N.V., Ashland Inc., Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.,Hefei TNJ Chemical Industry Co., Ltd., Puyang Guangming Chemicals Co., Ltd., Zhejiang Realsun Chemical Industry Co., Ltd., Abtonsmart Chemical Co. Ltd., and Balaji Amines Limited
Regional Analysis:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the N-Methyl-2-Pyrrolidone market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
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.
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.
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.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post N-Methyl-2-Pyrrolidone Market Strapping Growth Analysis Based on Future Opportunities by 2027 appeared first on Gatorledger.
N-Methyl-2-Pyrrolidone is a chemical compound with a high boiling point and excellent solvency for a wide range of organic and inorganic chemical compounds. It has high thermal and chemical stability which makes it ideal for use in coating resins and engineering polymers application. It is also used as a cleaning and paint stripping solvent agent due to its low surface tension and low surface tension. N-Methyl-2-Pyrrolidone can be used in the formulation and synthesis of various electronic products, polymers, and paints and coatings. Petrochemical, agrochemicals, and wire wrappers are some of the other applications of N-Methyl-2-Pyrrolidone.
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).
Top Key Players in N-Methyl-2-Pyrrolidone market: BASF SE, LyondellBasell Industries N.V., Ashland Inc., Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.,Hefei TNJ Chemical Industry Co., Ltd., Puyang Guangming Chemicals Co., Ltd., Zhejiang Realsun Chemical Industry Co., Ltd., Abtonsmart Chemical Co. Ltd., and Balaji Amines Limited
Regional Analysis:
Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the N-Methyl-2-Pyrrolidone market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.
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.
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.
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.
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post N-Methyl-2-Pyrrolidone Market Strapping Growth Analysis Based on Future Opportunities by 2027 appeared first on Gatorledger.
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