N-Methyl-2-pyrrolidone (NMP) Market Overview: Emerging Applications and Market Trends
The N-Methyl-2-pyrrolidone market is projected to reach USD 795.8 Million by 2022, at a CAGR of 6.8%. The base year considered for the study is 2016, while the forecast period is from 2017 to 2022.
(EMAILWIRE.COM, August 13, 2024 ) The report "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", 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.
Browse in-depth TOC on "N-Methyl-2-pyrrolidone (NMP) Market”
60- Market Data Tables
27- Figures
95- Pages
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52143523
Petrochemicals segment is projected to be the largest application of the NMP market from 2017 to 2022.
The petrochemicals application segment of the NMP market includes butadiene recovery and extraction of aromatic hydrocarbons, such as Benzene, Toluene, and Xylene (BTX). NMP is also used in lube oil purification. The demand for NMP in the petrochemical industry is growing due to its high solvency and low degradation rate as compared to other chemicals. NMP faces competition from other polar aprotic solvents, such as acetonitrile, furfural, sulfolane, and dimethylformamide. APAC and the Middle East & Africa are increasing the production of BTX, thereby fueling the demand for NMP during the forecast period.
Asia Pacific is projected to be the fastest-growing market for NMP.
Asia Pacific is projected to be the fastest-growing market for NMP. China is expected to be the largest market for NMP in the Asia Pacific region. China, Japan, and South Korea are leading manufacturers of lithium-ion batteries in the world. These countries are likely to increase their battery production capacities to meet the rising demand from the electric vehicle industry across the globe. China and India are the leading manufacturers of pharmaceuticals and agrochemicals and are increasing their domestic production of these products to meet their rising domestic as well as international demand. The growing production of lithium-ion batteries, pharma products, and agrochemicals in countries such as China, India, and South Korea is expected to fuel the demand for NMP in the region during the forecast period.
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N-Methyl-2-pyrrolidone (NMP) Market Key Players
Key companies operating in the NMP market are Ashland (US), Balaji Amines (India), BASF (Germany), Lyondellbasell (US), and Mitsubishi Chemical Corporation (Japan).
Don't miss out on business opportunities in N-Methyl-2-pyrrolidone (NMP) Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=52143523
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Browse in-depth TOC on "N-Methyl-2-pyrrolidone (NMP) Market”
60- Market Data Tables
27- Figures
95- Pages
Download PDF brochure of the Report @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=52143523
Petrochemicals segment is projected to be the largest application of the NMP market from 2017 to 2022.
The petrochemicals application segment of the NMP market includes butadiene recovery and extraction of aromatic hydrocarbons, such as Benzene, Toluene, and Xylene (BTX). NMP is also used in lube oil purification. The demand for NMP in the petrochemical industry is growing due to its high solvency and low degradation rate as compared to other chemicals. NMP faces competition from other polar aprotic solvents, such as acetonitrile, furfural, sulfolane, and dimethylformamide. APAC and the Middle East & Africa are increasing the production of BTX, thereby fueling the demand for NMP during the forecast period.
Asia Pacific is projected to be the fastest-growing market for NMP.
Asia Pacific is projected to be the fastest-growing market for NMP. China is expected to be the largest market for NMP in the Asia Pacific region. China, Japan, and South Korea are leading manufacturers of lithium-ion batteries in the world. These countries are likely to increase their battery production capacities to meet the rising demand from the electric vehicle industry across the globe. China and India are the leading manufacturers of pharmaceuticals and agrochemicals and are increasing their domestic production of these products to meet their rising domestic as well as international demand. The growing production of lithium-ion batteries, pharma products, and agrochemicals in countries such as China, India, and South Korea is expected to fuel the demand for NMP in the region during the forecast period.
Get Sample Pages of This Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=52143523
N-Methyl-2-pyrrolidone (NMP) Market Key Players
Key companies operating in the NMP market are Ashland (US), Balaji Amines (India), BASF (Germany), Lyondellbasell (US), and Mitsubishi Chemical Corporation (Japan).
Don't miss out on business opportunities in N-Methyl-2-pyrrolidone (NMP) Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow. https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=52143523
About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com
Contact Information:
360Quadrants
Mr. Rohan Salgarkar
Tel: 1-888-600-6441
Email us
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360Quadrants
Mr. Rohan Salgarkar
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results