N-Methyl-2-Pyrrolidone Market Key Findings, Size, and Share by 2031
The N-Methyl-2-Pyrrolidone Market is expected to register a CAGR of 4% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by application (pharmaceuticals, electrical and electronics, paints and coatings, agrochemicals, oil and gas and others). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report N-Methyl-2-Pyrrolidone Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
N-Methyl-2-Pyrrolidone Market Segmentation
Application- Pharmaceuticals
- Electrical and Electronics
- Paints and Coatings
- Agrochemicals
- Oil and Gas and Others
Strategic Insights
N-Methyl-2-Pyrrolidone Market Growth Drivers- NMP in Pharmaceuticals for Drug Formulation: The NMP resin is most largely utilized in the pharmaceutical since it is the most efficient in formulation and synthesis of drugs. Along with the development of innovation and invention of new drugs, the growing population and increase in health care services brings about the need for high quality solvents such as NMP. This growth is also enhanced by the increase in research activities in the drug industry, where there is a great need for different solvents, especially for drug formulation.
- NMP Demand Driven by Electronics Growth: NMP is also widely used in the electronics sector; in particular to the manufacture of semiconductors and other microelectronic components. The upsurge in demand for NMP is attributed to the expansion in the electronics market as a result of technological improvements and a growing consumer base for electronics. As a solvent of photoresist and other substances, it is a key component in processing steps in the manufacturing of integrated circuits and screens.
- NMP in Solvents & Adhesives for Performance: Another significant end user of NMP is solvents and adhesive sector. NMP has very good solvency and can dissolve most polymers, with the result that they are widely used in formulating effective coatings and adhesive materials. Given that industries are striving to enhance the performance and longevity themselves of products, the use of NMP in this scenarios should increase especially in the automotive, construction and industrial coating sectors.
- Eco-Friendly Solvent Alternatives Drive Innovation: There is a tendency to seek for more eco-friendly substitutes for conventional solvents including NMP. Supply-side and demand-side factors in favor of sustainable products are causing manufacturers to seek greener solvents and formulations. This proposal has led to development of new materials, with companies undertaking research to improve the safety of solvents while risking a lower performance.
- Efficient Production Technologies Lower Costs: Newer production technologies for NMP are recent developments which are increasing the efficiency and reducing cost of production. New methods of synthesis including efficient catalytic process are being sought out in order to increase the yield while minimizing the wastes. These developments contribute to making NMP production more eco friendly and also fulfill the inelastic demand to different sectors economically.
- Strategic Partnerships Expand NMP Applications: The companies operating in the NMP market are more often than not embarking on strategic alliances and partnerships in order to augment their product portfolios and market presence. In that way, they can optimize the offered resources and discover new ways to use NMP.
- NMP Applications in Specialized Industries: There is scope for advancing NMP products designed for certain uses, without stretching one’s imagination too far. For example, consider the NMP development with additives used only in a certain kind of process. This can easily be translated in construction of new markets. The products can be marketed in specialized pharmaceutical, electronic and coating applications thus giving the firms an upper hand.
- Emerging Markets Drive NMP Demand: Large share in the potential NMP market, given the emerging markets in Asia-Pacific and growth in Latin America. With developing regions include industrialization coupled with large growth in the manufacturing base, it is expected that the use of solvents such as the NMP will increase. There is such opportunity in these regions for the companies that will be able to enter the market and localize their products in these regions.
- NMP in Clean and Green Technologies: The re-emerging clean and green technologies can be another sector which can present untapped market for NMP. It has properties which are also essential during the production of engineering solution for solar panels and batteries. With the current trend of advocating for renewable energy sources, NMP’s application in such innovative technologies can be of great advantage to the manufacturers.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the N-Methyl-2-Pyrrolidone Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the N-Methyl-2-Pyrrolidone Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The N-Methyl-2-Pyrrolidone Market is estimated to witness a CAGR of 4% from 2023 to 2031
Growing demand in pharmaceuticals is driving the market growth
Eastman Chemical Company; LyondellBasell Industries Holdings B.V.; Honeywell International Inc; Merck KGaA; Carl Roth GmbH + Co. KG are some of the key players operating in the N-Methyl-2-Pyrrolidone market
On the basis of geography, the N-Methyl-2-Pyrrolidone market is classified into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Shift towards eco-friendly alternatives is expected to be the key market trends
TABLE OF CONTENTS
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 N-Methyl-2-Pyrrolidone Market - By Application
1.3.2 N-Methyl-2-Pyrrolidone Market - By Region
1.3.2.1 By Country
2. KEY TAKEWAYS
3. RESEARCH METHODOLOGY
4. N-METHYL-2-PYRROLIDONE MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. N-METHYL-2-PYRROLIDONE MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. N-METHYL-2-PYRROLIDONE MARKET - GLOBAL MARKET ANALYSIS
6.1. N-METHYL-2-PYRROLIDONE - GLOBAL MARKET OVERVIEW
6.2. N-METHYL-2-PYRROLIDONE - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. N-METHYL-2-PYRROLIDONE MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
7.1. OVERVIEW
7.2. APPLICATION MARKET FORECASTS AND ANALYSIS
7.3. OIL AND GAS
7.3.1. Overview
7.3.2. Oil and Gas Market Forecast and Analysis
7.4. PHARMACEUTICALS
7.4.1. Overview
7.4.2. Pharmaceuticals Market Forecast and Analysis
7.5. ELECTRONICS
7.5.1. Overview
7.5.2. Electronics Market Forecast and Analysis
7.6. PAINTS AND COATINGS
7.6.1. Overview
7.6.2. Paints and Coatings Market Forecast and Analysis
7.7. AGROCHEMICALS
7.7.1. Overview
7.7.2. Agrochemicals Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis
8. N-METHYL-2-PYRROLIDONE MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
8.1. NORTH AMERICA
8.1.1 North America N-Methyl-2-Pyrrolidone Market Overview
8.1.2 North America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis
8.1.3 North America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Application
8.1.4 North America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Countries
8.1.4.1 Canada N-Methyl-2-Pyrrolidone Market
8.1.4.1.1 Canada N-Methyl-2-Pyrrolidone Market by Application
8.1.4.2 Mexico N-Methyl-2-Pyrrolidone Market
8.1.4.2.1 Mexico N-Methyl-2-Pyrrolidone Market by Application
8.1.4.3 US N-Methyl-2-Pyrrolidone Market
8.1.4.3.1 US N-Methyl-2-Pyrrolidone Market by Application
8.2. EUROPE
8.2.1 Europe N-Methyl-2-Pyrrolidone Market Overview
8.2.2 Europe N-Methyl-2-Pyrrolidone Market Forecasts and Analysis
8.2.3 Europe N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Application
8.2.4 Europe N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Countries
8.2.4.1 Germany N-Methyl-2-Pyrrolidone Market
8.2.4.1.1 Germany N-Methyl-2-Pyrrolidone Market by Application
8.2.4.2 France N-Methyl-2-Pyrrolidone Market
8.2.4.2.1 France N-Methyl-2-Pyrrolidone Market by Application
8.2.4.3 Italy N-Methyl-2-Pyrrolidone Market
8.2.4.3.1 Italy N-Methyl-2-Pyrrolidone Market by Application
8.2.4.4 United Kingdom N-Methyl-2-Pyrrolidone Market
8.2.4.4.1 United Kingdom N-Methyl-2-Pyrrolidone Market by Application
8.2.4.5 Russia N-Methyl-2-Pyrrolidone Market
8.2.4.5.1 Russia N-Methyl-2-Pyrrolidone Market by Application
8.2.4.6 Rest of Europe N-Methyl-2-Pyrrolidone Market
8.2.4.6.1 Rest of Europe N-Methyl-2-Pyrrolidone Market by Application
8.3. ASIA-PACIFIC
8.3.1 Asia-Pacific N-Methyl-2-Pyrrolidone Market Overview
8.3.2 Asia-Pacific N-Methyl-2-Pyrrolidone Market Forecasts and Analysis
8.3.3 Asia-Pacific N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Application
8.3.4 Asia-Pacific N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Countries
8.3.4.1 Australia N-Methyl-2-Pyrrolidone Market
8.3.4.1.1 Australia N-Methyl-2-Pyrrolidone Market by Application
8.3.4.2 China N-Methyl-2-Pyrrolidone Market
8.3.4.2.1 China N-Methyl-2-Pyrrolidone Market by Application
8.3.4.3 India N-Methyl-2-Pyrrolidone Market
8.3.4.3.1 India N-Methyl-2-Pyrrolidone Market by Application
8.3.4.4 Japan N-Methyl-2-Pyrrolidone Market
8.3.4.4.1 Japan N-Methyl-2-Pyrrolidone Market by Application
8.3.4.5 South Korea N-Methyl-2-Pyrrolidone Market
8.3.4.5.1 South Korea N-Methyl-2-Pyrrolidone Market by Application
8.3.4.6 Rest of Asia-Pacific N-Methyl-2-Pyrrolidone Market
8.3.4.6.1 Rest of Asia-Pacific N-Methyl-2-Pyrrolidone Market by Application
8.4. MIDDLE EAST AND AFRICA
8.4.1 Middle East and Africa N-Methyl-2-Pyrrolidone Market Overview
8.4.2 Middle East and Africa N-Methyl-2-Pyrrolidone Market Forecasts and Analysis
8.4.3 Middle East and Africa N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Application
8.4.4 Middle East and Africa N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Countries
8.4.4.1 South Africa N-Methyl-2-Pyrrolidone Market
8.4.4.1.1 South Africa N-Methyl-2-Pyrrolidone Market by Application
8.4.4.2 Saudi Arabia N-Methyl-2-Pyrrolidone Market
8.4.4.2.1 Saudi Arabia N-Methyl-2-Pyrrolidone Market by Application
8.4.4.3 U.A.E N-Methyl-2-Pyrrolidone Market
8.4.4.3.1 U.A.E N-Methyl-2-Pyrrolidone Market by Application
8.4.4.4 Rest of Middle East and Africa N-Methyl-2-Pyrrolidone Market
8.4.4.4.1 Rest of Middle East and Africa N-Methyl-2-Pyrrolidone Market by Application
8.5. SOUTH AND CENTRAL AMERICA
8.5.1 South and Central America N-Methyl-2-Pyrrolidone Market Overview
8.5.2 South and Central America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis
8.5.3 South and Central America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Application
8.5.4 South and Central America N-Methyl-2-Pyrrolidone Market Forecasts and Analysis - By Countries
8.5.4.1 Brazil N-Methyl-2-Pyrrolidone Market
8.5.4.1.1 Brazil N-Methyl-2-Pyrrolidone Market by Application
8.5.4.2 Argentina N-Methyl-2-Pyrrolidone Market
8.5.4.2.1 Argentina N-Methyl-2-Pyrrolidone Market by Application
8.5.4.3 Rest of South and Central America N-Methyl-2-Pyrrolidone Market
8.5.4.3.1 Rest of South and Central America N-Methyl-2-Pyrrolidone Market by Application
9. INDUSTRY LANDSCAPE
9.1. MERGERS AND ACQUISITIONS
9.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
9.3. NEW PRODUCT LAUNCHES
9.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
10. N-METHYL-2-PYRROLIDONE MARKET, KEY COMPANY PROFILES
10.1. ASHLAND INC.
10.1.1. Key Facts
10.1.2. Business Description
10.1.3. Products and Services
10.1.4. Financial Overview
10.1.5. SWOT Analysis
10.1.6. Key Developments
10.2. BASF SE
10.2.1. Key Facts
10.2.2. Business Description
10.2.3. Products and Services
10.2.4. Financial Overview
10.2.5. SWOT Analysis
10.2.6. Key Developments
10.3. BINZHOU YUNENG CHEMICALS CO., LTD.
10.3.1. Key Facts
10.3.2. Business Description
10.3.3. Products and Services
10.3.4. Financial Overview
10.3.5. SWOT Analysis
10.3.6. Key Developments
10.4. HEFEI TNJ CHEMICAL INDUSTRY CO., LTD.
10.4.1. Key Facts
10.4.2. Business Description
10.4.3. Products and Services
10.4.4. Financial Overview
10.4.5. SWOT Analysis
10.4.6. Key Developments
10.5. LYONDELLBASELL
10.5.1. Key Facts
10.5.2. Business Description
10.5.3. Products and Services
10.5.4. Financial Overview
10.5.5. SWOT Analysis
10.5.6. Key Developments
10.6. PUYANG GUANGMING CHEMICALS CO., LTD.
10.6.1. Key Facts
10.6.2. Business Description
10.6.3. Products and Services
10.6.4. Financial Overview
10.6.5. SWOT Analysis
10.6.6. Key Developments
10.7. PUYANG MYJ TECHNOLOGY CO., LTD.
10.7.1. Key Facts
10.7.2. Business Description
10.7.3. Products and Services
10.7.4. Financial Overview
10.7.5. SWOT Analysis
10.7.6. Key Developments
10.8. SHANDONG QINGYUN CHANGXIN CHEMICAL SCIENCE-TECH CO., LTD.
10.8.1. Key Facts
10.8.2. Business Description
10.8.3. Products and Services
10.8.4. Financial Overview
10.8.5. SWOT Analysis
10.8.6. Key Developments
10.9. TAIZHOU YANLING FINE CHEMICALS CO., LTD.
10.9.1. Key Facts
10.9.2. Business Description
10.9.3. Products and Services
10.9.4. Financial Overview
10.9.5. SWOT Analysis
10.9.6. Key Developments
10.10. ZHEJIANG REALSUN CHEMICAL CO., LTD.
10.10.1. Key Facts
10.10.2. Business Description
10.10.3. Products and Services
10.10.4. Financial Overview
10.10.5. SWOT Analysis
10.10.6. Key Developments
11. APPENDIX
11.1. ABOUT THE INSIGHT PARTNERS
11.2. GLOSSARY OF TERMS
The List of Companies
- Ashland Inc.
- BASF SE
- Binzhou Yuneng Chemicals Co., Ltd.
- Hefei TNJ Chemical Industry Co., Ltd.
- LyondellBasell
- Puyang Guangming Chemicals Co., Ltd.
- Puyang MYJ Technology Co., Ltd.
- Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.
- Taizhou Yanling Fine Chemicals Co., Ltd.
- Zhejiang Realsun Chemical Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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