Global N-Methyl-2-Pyrrolidone (NMP) Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz delivers in-depth insights on the global N-Methyl-2-Pyrrolidone (NMP) market in its upcoming report titled, “Global N-Methyl-2-Pyrrolidone (NMP) Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global N-Methyl-2-Pyrrolidone (NMP) market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global N-Methyl-2-Pyrrolidone (NMP) market report has been segmented on the basis of application, and region.

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N-Methyl-2-Pyrrolidone (NMP) is an organic compound that belongs to the class of dipolar aprotic solvents. NMP is widely adopted in many end use industries owing to its miscible and solvency properties. It is also known as N-methylpyrrolidinone under the brand name Pharmasolve. NMP, due to its solvency properties is used on a large scale to dissolve a wide range of chemicals, so as to be used as polymers in various industries. It is also used as solvent for surface treatment of resins, metal coated plastic and textiles.

Rising demand for NMP from various end use industries, especially from the pharmaceutical and petrochemical industries across the globe is a major factor driving growth of the N-Methyl-2-Pyrrolidone (NMP) market. In addition, increasing adoption of NMP in paints, coatings, and agrochemicals is another factor anticipated to boost growth of the global N-Methyl-2-Pyrrolidone (NMP) market over the forecast period.

Stringent government and environmental regulations limiting use of NMP owing to its hazardous effects on human health and on the environment is a major factor restraining growth of the global N-Methyl-2-Pyrrolidone (NMP) market. Additionally, availability of alternative technologies in the market is also another factor expected to hamper growth of the global N-Methyl-2-Pyrrolidone (NMP) market over the forecast period.

Currently, the market in Asia Pacific dominates the global N-Methyl-2-Pyrrolidone (NMP) market in revenue terms owing to rising demand for NMP from various end use industries, especially from the pharmaceutical industries that is witnessing a significant growth in emerging economies in the region. The market in North America accounted for second-highest revenue share in the global N-Methyl-2-Pyrrolidone (NMP) market, and is followed by markets in Europe, Latin America, and Middle East & Africa respectively. The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increasing lithium-ion battery production and growing petrochemical sector in the region.

Global N-Methyl-2-Pyrrolidone (NMP) market segmentation:

By application:

• Oil & gas
• Pharmaceuticals
• Electronics
• Paints & Coatings
• Agrochemicals
• Others

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa