The global N-Methyl-2-Pyrrolidone (NMP) market is worth US$ 956.7 Mn as of now and is expected to reach US$ 2.1 Bn Bn by the year 2033 at a CAGR of 6.28% between 2023 and 2033.
Several economies are into promotion of electric vehicles for reducing greenhouse gas emissions. They have, in fact, come up with numerous policies for promulgating electric vehicles. This is the factor accelerating the N-Methyl-2-Pyrrolidone (NMP) market going forward.
In the petrochemical vertical, downstream operations (refining processes) basically utilize NMP. It’s also used to re-refine lubricating oil. It also aids in improvement of oil performance and viscosity index. The other advantages include improvement in solvent extraction and oil efficiency. Excessive use is definitely hazardous to the human beings.
Regulatory bodies like the US Environmental Protection Agency (EPA) and ECHA have put forth restrictions regarding usage in the specific products. On these grounds, the California Office of Environmental Health Hazard Assessment actually looks upon methyl-pyrrolidone as one of the reproductive toxins under ‘Proposition 65’ and did establish MADLs (maximum allowable dose levels) for NMP of 3,200 µg/day for inhalation exposures and 17K µg/day for dermal contact.
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As far as pharmaceutical vertical is concerned, it is sub-categorized as penetration enhancer and solvent. Electronics section could be split into photoresist stripper and solvent. As a solvent, it’s used for cleaning and degreasing, and for manufacturing conformal coatings (polyurethane and epoxy coatings) in PCBs (printed circuit boards).
At the same time, it needs to be noted that NMP is skin-sensitive. As such, it not only needs to be kept away from children, but adults also need to take an utmost care. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘N-Methyl-2-Pyrrolidone (NMP) Market’. The analysts and consultants herein have put in every bit of research through primary, secondary, and tertiary means.
Key Takeaways from N-Methyl-2-Pyrrolidone (NMP) Market
- North America holds the largest market share due to the US being subject to increasing sales of electric vehicles. The International Council on Clean Transportation has stated that 315K electric vehicles were sold from 2018 to 2020. NMP is used to produce lithium-ion batteries in hybrid and electric vehicles.
- The Asia-Pacific is expected to witness maximum turbulence in the N-Methyl-2-Pyrrolidone (NMP) market. India and China are leading the roost. The application areas, apart from lithium-ion batteries, include manufacturing FCCL (flexible polyimide copper clad board), polyurethane coatings, and polyphenylene sulfide to address consumer electronics. Also, stern regulations are being laid down regarding greenhouse gas emissions and environmental pollution. This is another factor driving the demand for electric vehicles, and, in turn, N-Methyl-2-Pyrrolidone (NMP).
- Brownfield and Greenfield expansion projects are also expected to contribute a great deal to the growth of N-Methyl-2-Pyrrolidone (NMP) in the upcoming period.
“With growing demand from electronics, pharmaceuticals, and oil & gas (petrochemicals) verticals, the N-Methyl-2-Pyrrolidone (NMP) market is expected to grow on a grand note in the forecast period”, says an analyst from Future Market Insights.
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Competitive Landscape
- Ashland’s Pharmacolve N-Methyl-2-Pyrrolidone (NMP) comes across as one the most versatile solubilizers to serve one-component systems. To put it further, it’s a water-miscible polar aprotic solvent that is abreast with higher interfacial activity. It is ISO 9001:2015 and EXCiPACT GMP-certified. The application area includes ‘drug solubilizer’ as well as penetration enhancer in animal and human parenteral dosage forms.
- BASF SE’s N-Methyl-2-Pyrrolidone (NMP) is a highly polar, aprotic, organic solvent. The application areas include synthesis of peptides in pharmaceutical vertical, production of membranes like PVDF (polyvinylidene fluoride), PES (polyether sulfone), and PVP (polyvinylpyrrolidone), production of lithium ion batteries, active ingredient synthesis and crop protection formulations, and oil extraction process.
Key Companies Profiled
- BASF SE
- LyondellBasell Industries Holdings B.V
- Ashland
- Eastman Chemical Company
- Mitsubishi Chemical Corporation
- Hefei TNJ Chemical Industry Co., Ltd
- Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd
- Zhejiang Realsun Chemical Co., Ltd
- Puyang Guangming Chemicals Co., Ltd
- Abtonsmart Chemicals (Group) Co., Ltd
- Balaji Amines
- Binzhou Yuneng Chemical Co., Ltd
- Binzhou City Zhanhua District Ruian Chemical Co., Ltd
- Hefei Tengchao Chemical Material Co., Ltd
- Shanghai Poochun Industry Co., Ltd.
Related Links:
https://anotepad.com/notes/y6rmnwhh
https://careero.mn.co/posts/30195857
https://waoop.com/read-blog/36132
https://adhipatialumni.com/blogs/63017/PAG-Compressor-Oil-Market-Size-Share-Demand-Trends-by-2033
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