According to a report released by market research organization Persistence Market Research, the global N-methylpyrrolidone (NMP) market value was approximately $ 757 million in 2015 and will increase to $ 985 million by the end of 2020, with a compound annual growth rate of 5.4 during this period. %.

 

   NMP is a polar solvent with strong selectivity and good stability. It has low toxicity, high boiling point, and excellent solubility. It is used in petrochemical, electronics, medicine, pesticide, industrial cleaning, paint, coating and other fields. Increasing demand from developing economies, especially the Asia-Pacific region, will remain one of the main boosters for market growth.

 

   By the end of 2020, electronic applications will be the largest demand area for NMP, with a market share of more than 23% and an average annual growth rate of 6.7%; pharmaceuticals will be the second largest application area, with revenue of $ 122.7 million in 2015, and by the end of 2020 The previous average annual growth rate will reach 6.3%, which will account for more than 15% of the entire market share.

 

    The Asia-Pacific region is the largest regional market for NMP, with a market share of nearly 40%. It will also be the fastest-growing region in the future, with an average annual growth rate of 7.5%. North America is the second largest market, and its market share will exceed 28% by 2020. Up 3.9%. Currently, major global NMP producers include BASF, Ashland, Lyondell Basel, Abtonsmart Chemical, Shandong Qingyun Changxin Chemical Technology Co., Ltd., Sunshine Chemical, Hefei Tianjian Chemical, Zhejiang Liansheng Chemical, Shaanxi Zaiyuan Pyle Mori et al. (Source: Sinochem New Network http://www.ccin.com.cn/ccin/news/2017/02/24/354453.shtml)