Global N-Methyl Pyrrolidone Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global N-Methyl Pyrrolidone Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

N-Methyl Pyrrolidone (NMP) is an organic compound consisting of a 5-membered lactam. It is a colorless liquid, although impure samples can appear yellow. It is miscible with water and with most common organic solvents. It also belongs to the class of dipolar aprotic solvents such as dimethylformamide and dimethyl sulfoxide. NMP is a solvent that is used widely in the manufacture and production of electronics, petrochemical products, polymers and other specialty chemicals. It has numerous industrial, commercial, and consumer applications.

Market Overview:

The latest research study on the global N-Methyl Pyrrolidone market finds that the global N-Methyl Pyrrolidone market reached a value of USD 2251.27 million in 2022. It’s expected that the market will achieve USD 3806.64 million by 2028, exhibiting a CAGR of 9.15% during the forecast period.

Influence of COVID-19 Outbreak on N-Methyl Pyrrolidone Industry Development

The raging COVID-19 has left the global economic environment in depression. The impact of COVID-19 on the N-Methyl Pyrrolidone industry will involve all major links and all entities in the industry chain. The company's management efficiency has declined, commuting has been severely hindered, production plans have been severely hindered, network expansion has been delayed, marketing has been delayed, brand adjustments have been forced, market sales have declined, and company and employee revenue have declined. The impact on the N-Methyl Pyrrolidone industry depends on the prevention and control effects of COVID-19.
Affected by COVID-19, logistics speed slows down, and the supply of raw materials for N-Methyl Pyrrolidone will be tight. Production was stagnant, sales are blocked the company's inventory increased, and the production of related enterprises in the severely affected areas was greatly affected. The short-term epidemic has less impact on the supply of raw materials for enterprises, mainly consuming stock materials, and the long-term epidemic will cause incalculable losses. If the epidemic develops further and logistics is always unsatisfactory, small and medium-sized N-Methyl Pyrrolidone enterprises are likely to be shut down due to insufficient raw material supply, and even large enterprises will face the same problem.

Limitations

Propylene glycol dimethyl ether (DPGDME) is an environmentally friendly solvent with a very wide range of uses. It can replace NMP (N-methyl pyrrolidone) or NEP (N-ethyl-pyrrolidone) as a solvent for the preparation of polyurethane dispersants. DPGDME-based PU dispersants (PUD) are used in coatings that require low-toxic solvents, such as floor paints or leather finishing/coatings for automotive and aircraft interiors.
As the European Union is currently studying the banning and evaluation of various amine solvents, this product provides the same chemical characteristics and processability as the NMP solvent system. In the future, even if NMP is banned, it can be directly replaced.
N-methyl-pyrrolidone use is associated with health problems such as headache, stomach pain, vomiting, nausea, and stomach pain. N-methyl-pyrrolidone is thus on the Special Health Threat Drug List, and is banned for use in new processes in Europe. NMP absorbs quickly through the skin. Also, repeated overexposure over months or years to NMP and other solvents may also have long-lasting and probably irreversible effects on the nervous system. The symptoms of these long-term effects include fatigue, sleeplessness, impaired coordination, attention problems, loss of short-term memory and changes in personality such as depression, anxiety and irritability. Currently there are strict restrictions on its use in Europe and North America.

Region Overview:

From 2023-2028, China is estimated to witness robust growth prospects.

Company Overview:

Changxin Chemical is one of the major players operating in the N-Methyl Pyrrolidone market, holding a share of 17.27% in 2021.

Changxin Chemical Co., Ltd. is a large-scale chemical company that focuses on the development, production and operation of N-methyl pyrrolidone (NMP), γ-butyrolactone (GBL), α-pyrrolidone (α-p), cyclohexylamine, and dicyclohexylamine series products in China. Materials companies have two production bases in Qingyun, Shandong and Tongling, Anhui. The company adheres to the operating philosophy of specialized production and large-scale operation, and its processing cost advantages and logistics cost advantages continue to be highlighted.

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances.

Segmentation Overview:

Among different product types, Electronic Grade segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Electronics segment occupied the biggest share from 2018 to 2022.

Key Companies in the global N-Methyl Pyrrolidone market covered in Chapter 3:

Mitsubishi Chemical
BASF
LyondellBasell
Taizhou Yanling
Ganzhou Zhongneng
Puyang MYJ
Ashland
Eastman
Puyang Guangming
Binzhou Yuneng
Zhejiang Realsun
Changxin Chemical

In Chapter 4 and Chapter 14.2, on the basis of types, the N-Methyl Pyrrolidone market from 2018 to 2029 is primarily split into:

Electronic Grade
Pharmaceutical Grade
Industrial Grade
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the N-Methyl Pyrrolidone market from 2018 to 2029 covers:

Petrochemicals
Electronics
Paints & Coatings
Agrochemicals
Pharmaceuticals
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)