N-Methyl-2-Pyrrolidone (NMP) Market Size, Future Consumer Trends And Market Growth 2023-2032

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The global N-methyl-2-pyrrolidone (NMP) market reached a value of nearly $973.7 million in 2022, having grown at a compound annual growth rate (CAGR) of 3.0% since 2017. The market is expected to grow from $973.7 million in 2022 to $1,375.4 million in 2027 at a rate of 7.2%. The market is then expected to grow at a CAGR of 6.5% from 2027 and reach $1,881.1 million in 2032.

N-methyl-2-pyrrolidone, often abbreviated as NMP, is a powerful solvent and chemical compound. It is a colorless to light yellow liquid with a slightly amine-like odor. NMP is widely used in various industrial applications due to its excellent solvent properties and high chemical stability.

Companies in the N-methyl-2-pyrrolidone market are focusing on expansions of production capacity to strengthen their product portfolio and to increase their geographic presence. For example, in August 2023, The Mitsubishi Chemical Group, a Japan-based chemicals corporation, decided to increase the ?-butyrolactone (GBL) production capacity of its Okayama Plant (Kurashiki City, Okayama Prefecture, Japan) by 2,000 tons/year. This expanded production is scheduled to start in July 2024. GBL is a high-purity solvent used as an electrolyte for capacitors and semiconductor parts cleaning solutions. It is also a raw material for N-methyl-2-pyrrolidone (NMP), used in lithium-ion batteries and for semiconductor cleaning solutions. Similarly, in April 2022, Hualu Hengsheng, a China-based manufacturing company that produces chemical fertilizers, polyurethane raw materials, carbonylation derivatives, new chemical materials, and new energy materials, planned to invest yuan (CNY) 5bn ($784m) to construct a new materials project that will produce butanediol (BDO), N-methyl-pyrrolidone (NMP), polybutylene adipate terephthalate (PBAT) and acetic anhydride at Jingzhou in Hubei province. The capacities will be 200,000 tons/year for BDO, 100,000 tons/year for NMP, 30,000 tons/year for PBAT and 100,000 tons/year for acetic anhydride. The facility will be located at Jiangling in Jingzhou. Hualu Hengsheng signed an investment agreement with Jiangling local government on the project.

N-Methyl-2-Pyrrolidone (NMP) Market Segmentation:
By Type -
a) Recycled
b) Fresh
By Purity-
a) 99.90%
b) 99.50%
c) Other Purities
By End User-
a) Paints And Coatings
b) Electronics
c) Automotive
d) Chemicals
e) Pharmaceuticals
f) Agrochemicals
g) Other End Users

Some of the key players involved in the N-Methyl-2-Pyrrolidone (NMP) market are
LyondellBasell Industries NV
Mitsubishi Chemical Group Corporation
BASF SE
Eastman Chemical Company
Ashland, Inc.

The regions covered in the globalN-Methyl-2-Pyrrolidone (NMP) market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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A Few Points From The Table Of Content
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
6. Introduction And Market Characteristics
...........
20. Company Profiles
21. Key Mergers And Acquisitions
22. Opportunities And Strategies
23. N-Methyl-2-Pyrrolidone (NMP) Market, Conclusions And Recommendations
24. Appendix

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