N Methyl 2 Pyrrolidone Market
N-Methyl-2-Pyrrolidone has a wide range of applications in a range of industries, such as pharmaceuticals, industrial cleaning, electronics, agrochemicals, and paints & coatings, petrochemical. N-Methyl-2-Pyrrolidone is characterized by a high flame point and low volatility. N-Methyl-2-Pyrrolidone is also used in the manufacturing of magnetic wire coatings which is expected to fuel the market growth over the next few years.
Market Dynamics
The global N-methyl-2-pyrrolidone market has witnessed significant growth in recent past years, owing to the rise in the growth of the electronics industry in emerging economies. N-methyl-2-pyrrolidone is primarily used for mixing water with oils. In addition to this, increasing implementation of strict regulations regarding fossil fuel-based vehicles for controlling emissions of carbon dioxide. A surge in the production of electric vehicles has led to providing lucrative growth in the global N-methyl-2-pyrrolidone market over the forecast period.
Major players in the global N-methyl-2-pyrrolidone market are increasing their investment in innovative product launchings, research & development, and marketing & promotional activities to capitalize on emerging trends in various end-user industries such as petrochemical, paints & coatings electronics, and pharmaceuticals. This scenario is expected to fuel the market during the forecast period.
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Browse 45 market data tables* and 30 figures* on "Global N-Methyl-2-Pyrrolidone Market” – global forecast to 2030
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