N-Methyl-2-pyrrolidone (NMP) Market - Global Forecast to 2022
DUBLIN, April 4, 2018 /PRNewswire/ --
The "N-Methyl-2-pyrrolidone (NMP) Market by Application (Petrochemicals, Electronics, Paints & Coatings, Agrochemicals, Pharmaceutical) and Region (Asia Pacific, Europe, North America, Middle East & Africa, South America) - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The NMP market size is projected to grow from USD 572.5 Million in 2017 to USD 795.8 Million by 2022, at a CAGR of 6.8% during the forecast period.
NMP is used in petrochemical, pharmaceutical, electronics, paints & coatings, and agrochemical industries. In the pharmaceutical industry, NMP is used in the extraction, purification, and crystallization of pharmaceuticals and is also used as an excipient for drugs.
The NMP market is categorized on the basis of application into petrochemicals, electronics, paints & coatings, agrochemicals, and pharmaceuticals. Petrochemicals segment is expected to be the largest application segment while the electronics segment is expected to grow at the highest CAGR during the forecast period.
NMP (N-Methyl-2-Pyrrolidone) Market
Asia Pacific is projected to remain the largest market for NMP. This market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing lithium-ion battery production and growing pharmaceutical industry in the region. China, South Korea, and India are estimated to experience high investments in the lithium-ion battery production to leverage the increasing domestic demand. Pharmaceutical and agrochemical industries in China and India are increasing their production capacities to meet the rising local demand for respective products. These factors are estimated to drive the demand for NMP in the region during the forecast period.
Several lithium-ion battery manufacturers across the globe are increasing their production capacities to meet its rising demand, thereby fueling the demand for NMP in the electronics applications. However, they are also searching for a substitute for NMP to reduce the cost involved in using NMP in the lithium-ion battery production.
NMP-based drugs are used in anti-tumor treatments and hence, they are experiencing a surge in demand for use in medicines for cancer treatment. The growing pharmaceutical industry in APAC and South America is expected to create opportunities for NMP manufacturers in the respective markets during the forecast period.
Ashland (US), BASF (Germany), Eastman (US), Lyondellbasell (US), Mitsubishi Chemical Corporation (Japan), and Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd. (China) are some of the companies operating in the NMP market.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Units Considered
1.6 Limitations
1.7 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Research Assumptions and Limitations
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in NMP Market
4.2 APAC NMP Market, By Application and Country
4.3 NMP Market, By Region
4.4 NMP Market, By End-Use Industry and Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Lithium-Ion Batteries in Electric Vehicles
5.2.1.2 Rising Demand From Pharmaceutical Industry
5.2.2 Restraints
5.2.2.1 Adoption of Alternative Technology to Reduce Cost and Minimise Hazardous Effect
5.2.3 Opportunities
5.2.3.1 Growing Demand in APAC
5.2.4 Challenges
5.2.4.1 Increasing Regulatory and Safety Concern
5.3 Porter's Five Forces Analysis
6 Macroeconomic Indicators
6.1 Introduction
6.1.1 GDP Growth Rate Forecast of Major Economies
6.1.2 Increasing Number of Lithium-Ion Battery Production Facilities During 2016 and 2020
7 NMP Market, By Application
7.1 Introduction
7.2 Petrochemicals
7.3 Electronics
7.4 Paints & Coatings
7.5 Agrochemicals
7.6 Pharmaceuticals
7.7 Others
8 NMP Market, By Region
9 Company Profiles
9.1 Mitsubishi Chemical Corporation
9.2 BASF
9.3 Ashland
9.4 Lyondellbasell
9.5 Eastman
9.6 Abtonsmart Chemical Group
9.7 Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd
9.8 Hefei TNJ Chemicals Industry Co.,Ltd
9.9 Tokyo Chemical Industry Co., Ltd
9.10 Balaji Amines
9.11 Other Industry Players
9.11.1 Puyang Guangming Chemicals Co.,Ltd
9.11.2 Santa Cruz Biotechnology
For more information about this report visit https://www.researchandmarkets.com/research/brqkz2/nmethyl2pyrroli?w=5
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