DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
"NMP market is projected to grow at a CAGR of 6.8%, in terms of value, between 2017 and 2022"
The NMP market size is expected to grow from USD 572.5 million in 2017 to reach USD 795.8 million by 2022, at a CAGR of 6.8% between 2017 and 2022.
NMP is a polar aprotic solvent used in several industries, such as petrochemicals, pharmaceuticals, and agrochemicals. It is widely used in the production of lithium-ion batteries, the demand for which is growing rapidly. This demand can be attributed to the increased production of electric vehicles across the globe. The growing lithium-ion battery production is expected to be a major driver for the NMP market during the forecast period.
However, the high cost and rising health concerns related to the manufacturing and use of NMP are restraining the growth of the market. Several NMP users are investing in R&D to develop an alternative to NMP to minimize the cost involved and avoid future regulations.
Asia Pacific is estimated to be the largest market for NMP, and this dominance is expected to continue during the forecast period. China is a key market in the region, accounting for more than half of the demand for NMP in Asia Pacific, followed by Japan, South Korea, and India, where consumption is growing at a steady rate. India is emerging as an important NMP market, as there are lithium-ion battery production facilities being established in the country.
Key companies operating in the NMP market are Ashland (US), BASF (Germany), Eastman (US), Lyondellbasell (US), Mitsubishi Chemical Corporation (Japan), and Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd. (China).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Indicators
7 NMP Market, By Application
8 NMP Market, By Region
9 Company Profiles
- Abtonsmart Chemical Group
- Balaji Amines
- Hefei TNJ Chemicals Industry Co.,Ltd
- Mitsubishi Chemical Corporation
- Puyang Guangming Chemicals Co.,Ltd
- Santa Cruz Biotechnology
- Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd
- Tokyo Chemical Industry Co., Ltd
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