Global N-Methyl-2-pyrrolidone (NMP) Market is expected to reach USD 851.36 Billion by 2024 from USD 544.27 Billion in 2016 at a CAGR of 6.6% (Detailed analysis of the market CAGR is provided in the report). N-Methyl-2-pyrrolidone is biodegradable and recyclable by distillation hence has attaracted the market. N-Methyl-2-pyrrolidone is used in various industrial applications such as recovery of certain hydrocarbons generated in the processing of petrochemicals, graffiti removal, photoresist stripping and water borne coatings. 
N-Methyl-2-pyrrolidone (NMP) market based on application is segmented into petrochemicals, paints & coatings, electronics, pharmaceuticals, agrochemicals and others. Petrochemicals segment leads the N-Methyl-2-pyrrolidone market while, electronics segment is projected to grow at a high CAGR during the forecast period. In petrochemicals industry N-Methyl-2-pyrrolidone is use to improve the oil efficiency, re-refining the lubricating oil and as a solvent for extraction. In electronics for cleaning and degreasing, and as a photoresist stripper. Geographically, N-Methyl-2-pyrrolidone (NMP) Market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Asia Pacific is leading the N-Methyl-2-pyrrolidone market this is attributed to the growing lithium-ion battery production and rising pharmaceutical industry. There is increasing investment in the lithium-ion battery production in countries such as China, South Korea, and India to meet the rising local demand. Scope of the Report:
N-Methyl-2-pyrrolidone Market, By Application:
• Petrochemicals • Paints & Coatings • Electronics • Pharmaceuticals • Agrochemicals • Others
N-Methyl-2-pyrrolidone Market, By Geography:
• North America • Europe • Asia Pacific • Middle East & Africa • Latin America Key Players of the N-Methyl-2-pyrrolidone Market: • BASF • Mitsubishi Chemical Corporation • Lyondellbasell • Ashland • Eastman • Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd. • Abtonsmart Chemical Group • Hefei TNJ Chemicals Industry Co., Ltd. • Balaji Amines • Tokyo Chemical Industry Co., Ltd. • Puyang Guangming Chemicals Co., Ltd. • Santa Cruz Biotechnology
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Report Published by: Maximize Market Research
