Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

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).

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.

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.

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

N-Methyl-2-Pyrrolidone  | Coherent Market Insights

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.

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.

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.

Figure 2. Global N-Methyl-2-Pyrrolidone Market – Opportunity Analysis

N-Methyl-2-Pyrrolidone  | Coherent Market Insights

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.

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

N-Methyl-2-Pyrrolidone  | Coherent Market Insights

On the basis of application, electronics dominated the global n-methyl-2-pyrrolidone market in 2019 with around 23% of market share in terms of revenue, followed by paints & coatings and pharmaceuticals, respectively,

Competitive Section

Key players are operating in the global N-methyl-2-pyrrolidone market are 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.

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 high flame point and low volatility. N-Methyl-2-Pyrrolidone is also used in 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 growth of electronics industry in emerging economies. N-methyl-2-pyrrolidone is primarily used for mixing of water with oils. In addition to this, increasing implementation of strict regulations regarding fossil fuel-based vehicles for controlling emissions of carbon dioxide. Surge in the production of electric vehicles has led to provide lucrative growth to 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 on innovative product launchings, research & development and marketing & promotional activities to capitalize on emerging trends various end-user industries such as petrochemical, paints & coatings electronics, pharmaceuticals. This scenario is expected to fuel the market during the forecast period.

Key features of the study:

  • This report provides in-depth analysis of global N-methyl-2-pyrrolidone market size (US$ Million and Thousand Tons), and Compound Annual Growth Rate (CAGR %) for the forecast period (2020 – 2027), considering 2019 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights into market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by the leading players
  • It profiles leading players in the global N-methyl-2-pyrrolidone market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes 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
  • Insights from this report would allow marketers and the management authorities of companies to make informed decision regarding their future product launches, Product Type up-gradation, market expansion, and marketing tactics
  • The global N-methyl-2-pyrrolidone market report caters to various stakeholders in this industry including investors, suppliers, global N-methyl-2-pyrrolidone manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global N-methyl-2-pyrrolidone market

Detailed Segmentation:

  • Global N-Methyl-2-Pyrrolidone Market, By Application:
    • Electronics
    • Petrochemical Processing
    • Agrochemicals
    • Pharmaceuticals
    • Paints & coatings
    • Industrial cleaners
    • Others
  • Global N-Methyl-2-Pyrrolidone Market, By Region:
    • North America
      • U.S.
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Canada
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Mexico
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
    • South America
      • Brazil
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Rest of Latin America
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
    • Europe
      • France
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Germany
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • U.K.
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Russia
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Benelux
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Nordic
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Rest of Europe
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
    • Asia Pacific
      • China
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Japan
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Australia & New Zealand
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • India
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Rest of the Asia-pacific
        • By Application
          • Small
          • Medium
          • Large
          • Very Large
          • Canada
    • Middle East & Africa
      • GCC
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • South Africa
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
      • Rest of Middle East & Africa
        • By Application
          • Electronics
          • Petrochemical Processing
          • Agrochemicals
          • Pharmaceuticals
          • Paints & coatings
          • Industrial cleaners
          • Others
  • Company Profiles
    • BASF SE*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Lyondell Basell 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
    • Balaji Amines Limited

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
        • Supply Side Drivers
        • Demand Side Drivers
        • Economic Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • PEST Analysis
      • PORTER’s Analysis
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
  4. Global N-Methyl-2-Pyrrolidone Market, By Application, 2017 - 2027 (US$ Million and Thousand Tons)
    • Introduction
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Electronics
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Petrochemical Processing
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Agrochemicals
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Pharmaceuticals
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Paints & coatings
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Industrial cleaners
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
    • Others
      • Market Share Analysis, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
  5. Global N-Methyl-2-Pyrrolidone Market, By Region, 2017- 2027 (US$ Million and Thousand Tons)
    • Introduction
      • Market Share Analysis, By Region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Region, 2020 - 2027
    • North America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • U.S.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Canada
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
    • Latin America
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • Brazil
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Mexico
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Argentina
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Rest of Latin America
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
    • Europe
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • France
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Germany
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Italy
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Spain
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • U.K.
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Nordic
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Benelux
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Russia
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Poland
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Rest of Europe
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
    • Asia Pacific
      • Market Share Analysis, By Country, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country, 2020 - 2027
        • China
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • India
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Japan
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Oceania
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • ASEAN
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Rest of Asia Pacific
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
    • Middle East & Africa
      • Market Share Analysis, By Country/ Sub-region, 2017 and 2027 (%)
      • Y-o-Y Growth Analysis, By Country/ Sub-region, 2020 - 2027
        • GCC
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • South Africa
          • Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
        • Rest of Middle East & Africa
          • Sub-region/Country Trends
          • Market Size and Forecast, By Application, 2017- 2027 (US$ Million and Thousand Tons)
  6. Competitive Landscape
    • Market Share Analysis
    • Company Profiles
      • BASF SE
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • LyondellBasell Industries N.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ashland Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Hefei TNJ Chemical Industry Co., Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Puyang Guangming Chemicals Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Zhejiang Realsun Chemical Industry Co., Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Abtonsmart Chemical Co. Ltd
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Balaji Amines Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • References
    • Research Methodology
    • About us and Sales Contact

* Browse 45 market data tables* and 30 figures* on "Global N-Methyl-2-Pyrrolidone Market” – global forecast to 2027

Frequently Asked Questions

The market for global N-Methyl-2-Pyrrolidone is forecast to surpass US$ 1400 million by 2027 witnessing a CAGR of 5.4% between 2020 and 2027.
Growing demand for N-Methyl-2-Pyrrolidone from the electronic industry and automotive industry in terms of electronic inputs to vehicles is fuelling the growth of the global N-Methyl-2-Pyrrolidone market in the region.
Growth in the refinery projects coupled with the economic development and establishment of new production plants for increasing the production capacities are expected to favour market growth over the forecast period.
Side-effects associated with the prolonged exposure to NMP and increasing focus of manufacturers on developing ideal substitutes of NMP is expected to hamper the growth the market during the forecast period.
Major players operating in the global N-Methyl-2-Pyrrolidone market include 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.
The global N-Methyl-2-Pyrrolidone market was estimated to be valued around US$ 900 Million in terms of revenue in 2019.
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