LONDON--(BUSINESS WIRE)--The n-methyl-2-pyrrolidone market is expected to grow by USD 388.99 million during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the n-methyl-2-pyrrolidone market in optimistic, probable, and pessimistic forecast scenarios.
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The n-methyl-2-pyrrolidone market will witness a neutral impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase as compared to 2019.
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Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three N-Methyl-2-Pyrrolidone Market Participants:
Abtonsmart Chemicals (Group) Co. Ltd.
Abtonsmart Chemicals (Group) Co. Ltd. operates its business through the Unified segment. The company produces N-Methyl-2-Pyrrolidone, a high boiling, polar aprotic, and low viscosity liquid. The product produced by the company finds many applications in pharmaceuticals, agrochemicals, industrial and household cleaning, electronics, paints and coatings, polyurethane coatings, synthetic leather, and petrochemical processing industries.
Ashland Global Holdings Inc.
Ashland Global Holdings Inc. operates its business through segments such as Specialty Ingredients and Intermediates and Solvents. The company offers products such as Pharmasolve NMP, M-Pyrol solvent, and Micropure EG solvent for various industrial applications.
BASF SE operates its business through segments such as Agricultural Solutions and Others. The company offers products such as N-Methylpyrrolidone and N-Methylpyrrolidone Life Science for various industrial applications.
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N-Methyl-2-Pyrrolidone Market 2020-2024: Segmentation
N-methyl-2-pyrrolidone market is segmented as below:
- Oil And Gas
- Paints And Coatings
- North America
The n-methyl-2-pyrrolidone market is driven by high demand from APAC. In addition, other factors such as the adoption of the green pathway for producing N-methyl-2-pyrrolidone are expected to trigger the n-methyl-2-pyrrolidone market toward witnessing a CAGR of over 5% during the forecast period.
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.