The global N-Methyl-2-Pyrrolidone (NMP) Market size was estimated at USD 1.07 billion in 2015 and is expected to witness significant growth over the forecast period, primarily owing to the rising demand from key application segments, such as oil & gas (petrochemical), pharmaceuticals and electronics, among others. This is due to the growth of the overall petrochemical sector.
The spending on downstream asset maintenance will grow by 7% between 2012 and 2016, reaching USD 336 billion. This can be attributed both to greenfield expansion and brownfield projects. This spending is more than 60% in Asia Pacific and North America. This huge growth in the petrochemical sector will undoubtedly increase the demand for NMP during the forecast period.
U.S. N-Methyl-2-Pyrrolidone market revenue, by application, 2013 - 2025 (USD Million)
Oil & Gas refers to the petrochemical and downstream industries (refining processes) that primarily consume NMP. Although the oil and gas market isn't performing well due to high crude prices and piled up inventories, downstream operations will likely increase in the next few years. NMP is being increasingly used to re-refine the lubricating oils. It also improves oil performance and viscosity index.
It also helps improve oil efficiency and solvent extraction. Excessive use poses several risks to the human health. These factors have led to certain regulatory agencies such as the U.S. Environmental Protection Agency, ECHA, imposing restrictions on certain products' usage above certain limits.
California Office of Environmental Health Hazard Assessment identified methyl-pyrrolidone under Proposition 65 as a reproductive toxins and set maximum allowable doses (MADLs for NMP) of 17,000?g/day in dermal contact and 3200?g/day inhalation exposures.
Asia has become a hub with emerging economies like India and China leading the way. The region is seeing new refinery projects and expansion of existing ones, which are fueling the growth of the refinery industry.
NMP market is segmented into pharmaceuticals, oil & gas and electronics. The oil & Gas market can be further divided into butadiene extraction, BTX extraction, lube oils purification. The pharmaceutical market is further divided into two segments, solvent and penetration enhancer. The electronic segment can be divided into photoresist stripper and solvent.
The low oil prices have benefited the refining industry and the petrochemicals market is booming. NMP is used in many applications, including butadiene extraction, BTX extraction and lube oil purification. These industries will provide a direct growth advantage for this industry.
NMP can also be used in electronics for cleaning and degreasing, as well as to remove photoresists. NMP can also be used in the production of conformal coats (epoxy or polyurethane) in printed circuit boards.
Electronic inputs to automobiles are growing rapidly in the automotive industry. The majority of manufacturing activities are done in Asia. This contributes to overall industry growth through infrastructure support and the necessary equipment.
NMP markets in Europe and Asia Pacific have significant potential to grow over the next few years. This is primarily due to technological advances, industrial growth, economic expansion, and low production costs in countries like Brazil, China, Japan and Japan. In recent years, these countries have seen significant growth in the end-user industries, such as electronics, pharmaceuticals, and oil & Gas (petrochemical).
Global N-Methyl-2-Pyrrolidone, market share, by region, 2015 (%)
Asia Pacific's industry is experiencing moderate growth. This is mainly due to the changing political and financial dynamics in the major countries such as China and India. These countries' growth in electronics and pharmaceuticals will lead to a greater European market. The Electronic Industries Association of India estimates that the market for electronic products and systems in India will reach USD 400 billion by 2020.
E. I. du Pont de Nemours and Company (BASF SE), E. I. du Pont de Nemours and Company (Eastman Chemical Company), Mitsubishi Chemical Corporation and Ashland Inc. are some of the key players in this global market. To ensure profitability and competitiveness, the global market has seen a steady increase in expansions by major players.
This report predicts revenue growth at the global, regional and country levels. It also analyzes the industry trends for each sub-segment from 2013 through 2025. For the purpose of this study, Up Market Research has segmented the N-Methyl-2-Pyrrolidone (NMP) Market on the basis of application and region:
Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2013 - 2025)
Oil & Gas
Butadiene recovery
Extraction of BTX
Purification of lube oil
Pharmaceuticals
Solvent
Penetration enhancer
Electronics
Solvent
Photoresist stripper
Paints & Coatings
Agrochemicals
Other
Regional Outlook (Volume of Kilo Tons; Revenue USD Million, 2013-2025)
North America
The U.S.
Europe
Germany
U.K.
Asia Pacific
China
India
Japan
Latin America
Brazil
Middle East & Africa
Up Market Research published a new report titled “N-Methyl-2-Pyrrolidone (NMP) Market research report which is segmented by Application (Agrochemicals, Paints & Coatings, Oil & gas [Butadiene Recovery, BTX Extraction], Pharmaceuticals [Solvent, Penetration Enhancer], Electronics), By Players/Companies Mitsubishi Chemical Corporation, BASF SE, among others The global market has continuously witnessed expansions and partnerships by the major players to ensure competitiveness and profitability and establishes a strong foothold in the market, Ashland Inc, E I du Pont de Nemours and Company, Eastman Chemical Company”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | N-Methyl-2-Pyrrolidone (NMP) Market Research Report |
By Application | Agrochemicals, Paints & Coatings, Oil & gas [Butadiene Recovery, BTX Extraction], Pharmaceuticals [Solvent, Penetration Enhancer], Electronics |
By Companies | Mitsubishi Chemical Corporation, BASF SE, among others The global market has continuously witnessed expansions and partnerships by the major players to ensure competitiveness and profitability and establishes a strong foothold in the market, Ashland Inc, E I du Pont de Nemours and Company, Eastman Chemical Company |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 247 |
Number of Tables & Figures | 173 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Agrochemicals, Paints & Coatings, Oil & gas [Butadiene Recovery, BTX Extraction], Pharmaceuticals [Solvent, Penetration Enhancer], Electronics).
N-Methyl-2-Pyrrolidone (NMP) Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the N-Methyl-2-Pyrrolidone (NMP) Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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