N-Methyl-2-Pyrrolidone (NMP) is an organic compound which belongs to the class of dipolar aprotic solvents, and is also known as N-methylpyrrolidinone. NMP is widely used in many industries owing to its miscible and solvency properties.
Growing demand for N-Methyl-2-Pyrrolidone (NMP) from various industries in developed and developing economies, especially from the pharmaceutical industries is a major factor boosting growth of the global N-Methyl-2-Pyrrolidone (NMP) market. Additionally, increasing use of NMP in paints and coatings coupled with developments in N-Methyl-2-Pyrrolidone (NMP) products are other factors anticipated to fuel growth of the target market over the forecast period. But, stringent government regulations for use of NMP and availability of alternative products in the market are major factors hampering growth of the global market.
The global N-Methyl-2-Pyrrolidone (NMP) market report has been segmented on the basis of application, and region. On the basis of region, the global N-Methyl-2-Pyrrolidone (NMP) market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Request Sample Copy of the Report: https://marketresearch.biz/report/n-methyl-2-pyrrolidone-nmp-market/request-sample/
The market in Asia Pacific accounted for highest share in terms of revenue in the global market, and is expected to maintain its dominance over the forecast period. This can be attributed to rising demand for NMP from various end use industries, especially from the chemical and petrochemical industries in the region. Moreover, revenue from the Asia Pacific market is projected to witness significant growth over the forecast period, and register a CAGR of X.X% between 2017 and 2026. The markets in Europe and North America also accounted for major revenue contributions in the global market, owing to increasing adoption of NMP from petrochemical industries in countries in the regions. Furthermore, the markets in Middle East & Africa and Latin America are anticipated to witness moderate growth over the forecast period, owing to growing demand from various end use industries such as Paints & Coatings and agrichemicals in the regions.
Prominent players in the global N-Methyl-2-Pyrrolidone (NMP) market include BASF SE, Ashland Global Specialty Chemicals Inc., E. I. du Pont de Nemours and Company, LyondellBasell Industries Holdings, Eastman Chemical Company, Mitsubishi Chemical Corporation, Guangming Chemicals Co., Ltd, Abtonsmart Chemicals (Group) Co. Ltd., Balaji Amines, Binzhou Yuneng Chemical Co., Ltd.