N – Methyl Pyrrolidone (NMP) Market Is Forecast to Reach a Valuation of US$ 1,480.6 Mn by the End of 2032

The global N – Methyl Pyrrolidone market is estimated to expand at 4.7% CAGR over the forecast period between 2022 and 2032, finds Future Market Insights (FMI) in a recent market analysis.

Electronics, petrochemicals and plastics/polymers, agrochemicals, and paints and coatings are among key end-use industries in the NMP market. With the right plan in place, top NMP manufacturers can take advantage of every opportunity in the industry and catapult their businesses to new heights.

Due to the increasing demand for both industrial and consumer electronic products, sales of NMP are slated to rise. NMP is necessary for the manufacturing and maintenance of electronic components. Their application within the electronics industry will boost the global market for NMP.

However, consistently growing threat of alternatives owing to the growing research and development activities is expected to remain a big hurdle in the growth of overall NMP market over the forecast period.

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“Remarkable growth in end-use industries such as electronics and others resulted in elevated demand for N – Methyl Pyrrolidone over the forecast period,” says an FMI analyst.

Key Takeaways:

Global N – Methyl Pyrrolidone market is expected to reach a value over US$ 1.4 Bn by the end of the forecast period growing at a CAGR of 4.7% over the forecast period.
Standard Grade is the most widely used grade of NMP across the globe owing to its variety of applications in industries. Rapid Industrialization is the key factor promoting the growth of standard grade NMP.
The electronics industry is one of key consumers of NMP. Rapid adoption of electric vehicles also is expected to promote the use of NMP in battery manufacturing over the forecast period.
East Asia is expected to be the dominant region in terms of production and consumption of N – Methyl Pyrrolidone owing to strong presence of various end-use industries in the region.

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Competitive Landscape

Key Manufacturers of N – Methyl Pyrrolidone (NMP) includes BASF SE, LyondellBasell Industries NV, Ashland Inc., Eastman Chemical Company, Balaji Amines, Mitsubishi Chemical Corporation, Hefei TNJ Chemical Industry Co. ltd., Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd., Zejiang Realsun Chemical Co. Ltd, Puyang Guangming Chemicals Co. Ltd., Binzhou Yuneng Chemical  Co. ltd., Binzhou City Zhanhua District Ruian Chemical Co. Ltd., Hefei Tengchao Chemical Material Co. ltd., Shanghai Poochun Industry Co. Ltd., and others.

N – Methyl Pyrrolidone (NMP) Market By Category

By Grade :

Standard
Electronics
Pharmaceutical
Others

By Application :

Petrochemical Processing
Paints & Coatings
Industrial Cleaners
Electronics
Agrochemicals
Pharmaceuticals
Others

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Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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