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

  • ID: 4481356
  • Report
  • Region: Global, Africa, America, Asia, Asia Pacific, East Africa, Europe, Middle East, North America, United States
  • 96 Pages
  • Markets and Markets
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NMP Market Size Expected to Grow from USD 572.5 Million in 2017 to Reach USD 795.8 Million by 2022, at a CAGR of 6.8%

FEATURED COMPANIES

  • Abtonsmart Chemical Group
  • Ashland
  • Balaji Amines
  • BASF
  • Eastman
  • Lyondellbasell
  • MORE

"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.

"Based on application, the electronics segment of the NMP market is projected to grow at the highest CAGR between 2017 and 2022"

NMP is used in electronics as a solvent during the manufacturing of lithium-ion batteries, as a photoresist stripper in the manufacturing of semiconductor devices, and as a cleaning reagent for electronic devices. NMP is also used as a solvent to produce PCBs, polyamide/polyimide wire enamels, along with epoxy and polyurethane coatings.

Lithium-ion battery manufacturers are investing in R&D to develop a substitute of NMP. Efforts are being made by them to replace NMP/PVDF couple in batteries with the water/elastomer couple. In addition, chemicals such as NEP are being tested to replace NMP. However, any such replacement was not observed on an industrial scale.

"Asia Pacific is estimated to be the largest market for NMP in 2017"

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.

Extensive primary interviews were conducted to determine and verify the market size of various segments and subsegments of the NMP market.

The break-up of primary interviews is given below:

  • By Company Type - Tier 1 - 27%, Tier 2 - 50%, and Tier 3 - 23%
  • By Designation - C level - 23%, Director Level - 26, and Others - 51%
  • By Region - North America - 10%, Europe - 30%, Asia Pacific- 52%, and RoW - 8%

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).

Research Coverage:

This research report categorizes the NMP market on the basis of application and region. The report includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the NMP market. A detailed analysis of the key industry players has been undertaken to provide insights on the businesses and the products & services offered by them. The report also discusses key strategies, such as expansions, mergers & acquisitions, new product developments, and agreements adopted by the leading players to strengthen their positions in the NMP market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in this market in the following ways:

1. This report segments the NMP market comprehensively and provides closest approximations of the sizes for the overall market and its subsegments across different regions.

2. The report is expected to help stakeholders understand the pulse of the market and provide them information on key market drivers, such as restraints, challenges, and opportunities influencing the growth of the NMP market.

3. this report is expected to help stakeholders understand major competitors in the NMP market and gain insights to enhance their positions. The competitive landscape section includes detailed information on expansions, acquisitions, and new product developments in the market.

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FEATURED COMPANIES

  • Abtonsmart Chemical Group
  • Ashland
  • Balaji Amines
  • BASF
  • Eastman
  • Lyondellbasell
  • MORE

1 Introduction
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Units Considered
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top Down Approach
    2.3 Data Triangulation
    2.4 Research Assumptions and Limitations

3 Executive Summary

4 Premium Insights
    4.1 Attractive Opportunities in NMP Market
    4.2 APAC NMP Market, By Application and Country
    4.3 NMP Market, By Region
    4.4 NMP Market, By End-Use Industry and Region

5 Market Overview
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Increasing Demand for Lithium-Ion Batteries in Electric Vehicles
                    5.2.1.2 Rising Demand From Pharmaceutical Industry
           5.2.2 Restraints
                    5.2.2.1 Adoption of Alternative Technology to Reduce Cost and Minimise Hazardous Effect
           5.2.3 Opportunities
                    5.2.3.1 Growing Demand in APAC
           5.2.4 Challenges
                    5.2.4.1 Increasing Regulatory and Safety Concern
    5.3 Porter’s Five Forces Analysis
           5.3.1 Bargaining Power of Buyers
           5.3.2 Bargaining Power of Suppliers
           5.3.3 Threat of New Entrants
           5.3.4 Threat of Substitutes
           5.3.5 Intensity of Competitive Rivalry

6 Macroeconomic Indicators
    6.1 Introduction
           6.1.1 GDP Growth Rate Forecast of Major Economies
           6.1.2 Increasing Number of Lithium-Ion Battery Production Facilities During 2016 and 2020

7 NMP Market, By Application
    7.1 Introduction
    7.2 Petrochemicals
    7.3 Electronics
    7.4 Paints & Coatings
    7.5 Agrochemicals
    7.6 Pharmaceuticals
    7.7 Others

8 NMP Market, By Region
    8.1 Introduction
    8.2 North America
           8.2.1 US
           8.2.2 Canada
           8.2.3 Mexico
    8.3 APAC
           8.3.1 China
           8.3.2 Japan
           8.3.3 India
           8.3.4 South Korea
           8.3.5 Rest of APAC
    8.4 Europe
           8.4.1 Germany
           8.4.2 UK
           8.4.3 France
           8.4.4 Netherlands
           8.4.5 Rest of Europe
    8.5 Middle East & Africa
    8.6 South America

9 Company Profiles
(Overview, Financial*, Products & Services, Strategy, and Developments)
    9.1 Mitsubishi Chemical Corporation
    9.2 BASF
    9.3 Ashland
    9.4 Lyondellbasell
    9.5 Eastman
    9.6 Abtonsmart Chemical Group
    9.7 Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd
    9.8 Hefei TNJ Chemicals Industry Co.,Ltd
    9.9 Tokyo Chemical Industry Co., Ltd
    9.10 Balaji Amines
    9.11 Other Industry Players
           9.11.1 Puyang Guangming Chemicals Co.,Ltd
           9.11.2 Santa Cruz Biotechnology

*Details Might Not Be Captured in Case of Unlisted Companies

List of Tables
Table 1 Trends and Forecast of GDP Growth Rates Between 2016 and 2022
Table 2 Lithium-Ion Battery Production Capacities, By Country, 2016- 2020
Table 3 NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 4 NMP Market Size, By Application, 2015-2022 (USD Million)
Table 5 NMP Market Size in Petrochemical Applications, By Region, 2015-2022 (Ton)
Table 6 NMP Market Size in Petrochemical ApPLCiations, By Region 2015-2022 (USD ’000)
Table 7 NMP Market Size in Electronics Applications, By Region, 2015-2022 (Ton)
Table 8 NMP Market Size in Electronics Applications, By Region 2015-2022 (USD ’000)
Table 9 NMP Market Size in Paints & Coatings Applications, By Region, 2015-2022 (Ton)
Table 10 NMP Market Size in Paints & Coatings Applications, By Region 2015-2022 (USD ’000)
Table 11 NMP Market Size in Agrochemical Applications, By Region, 2015-2022 (Ton)
Table 12 NMP Market Size in Agrochemical Applications, By Region 2015-2022 (USD ’000)
Table 13 NMP Market Size in Pharmaceutical Applications, By Region, 2015-2022 (Ton)
Table 14 NMP Market Size in Pharmaceutical Applications, By Region 2015-2022 (USD ’000)
Table 15 NMP Market Size in Other Applications, By Region, 2015-2022 (Ton)
Table 16 NMP Market Size in Other Applications, By Region 2015-2022 (USD ’000)
Table 17 NMP Market Size, By Region, 2015-2022 (Kiloton)
Table 18 NMP Market Size, By Region, 2015-2022 (USD Million)
Table 19 North America: NMP Market Size, By Country, 2015-2022 (Kiloton)
Table 20 North America: NMP Market Size, By Country, 2015-2022 (USD Million)
Table 21 North America: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 22 North America: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 23 US: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 24 US: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 25 Canada: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 26 Canada: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 27 Mexico: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 28 Mexico: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 29 APAC: NMP Market Size, By Country, 2015-2022 (Kiloton)
Table 30 APAC: NMP Market Size, By Country, 2015-2022 (USD Million)
Table 31 APAC: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 32 APAC: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 33 China: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 34 China: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 35 Japan: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 36 Japan: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 37 India: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 38 India: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 39 South Korea: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 40 South Korea: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 41 Rest of APAC: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 42 Rest of APAC: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 43 Europe: NMP Market Size, By Country, 2015-2022 (Kiloton)
Table 44 Europe: NMP Market Size, By Country, 2015-2022 (USD Million)
Table 45 Europe: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 46 Europe: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 47 Germany: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 48 Germany: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 49 UK: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 50 UK: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 51 France: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 52 France: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 53 Netherlands: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 54 Netherlands: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 55 Rest of Europe: NMP Market Size, By Application, 2015-2022 (Kiloton)
Table 56 Rest of Europe: NMP Market Size, By Application, 2015-2022 (USD Million)
Table 57 Middle East & Africa: NMP Market Size, By Application, 2015-2022 (Ton)
Table 58 Middle East & Africa: NMP Market Size, By Application, 2015-2022 (USD ’000)
Table 59 South America: NMP Market Size, By Application, 2015-2022 (Ton)
Table 60 South America: NMP Market Size, By Application, 2015-2022 (USD ’000)

List of Figures
Figure 1 NMP Market: Research Design
Figure 2 Market Size Estimation Methodology: Bottom-Up Approach
Figure 3 Market Size Estimation Methodology: Top-Down Approach
Figure 4 Data Triangulation: NMP Market
Figure 5 Petrochemcials to Lead NMP Market Between 2017 and 2022
Figure 6 APAC Market to Witness Highest Growth During Forecast Period
Figure 7 Increasing Demand From Electronics and Pharmaceutical Industries to Drive the NMP Marekt
Figure 8 China Dominated NMP Market in APAC in 2016
Figure 9 APAC to Lead NMP Market During Forecast Period
Figure 10 APAC Accounted for Major Market Share in 2016
Figure 11 Factors Governing the NMP Market
Figure 12 Porter’s Five Forces Analysis
Figure 13 Installed Lithium-Ion Battery Production Capacities (GWH) Q1, 2017
Figure 14 Middle East & Africa is Projected to Be the Fastest-Growing Market for NMP in Petrochemicals Applications
Figure 15 APAC Dominated the Electronics Applications Market of NMP In
Figure 16 North America to Remain Second-Largest Market for NMP in Paints & Coatings Applications
Figure 17 APAC to Remain the Largest Market for NMP in Agrochemical Applications
Figure 18 North America to Lead Market for NMP in Pharmaceutical Applications During the Forecast Period
Figure 19 APAC to Remain the Largest Market for NMP in Other Applications
Figure 20 Regional Snapshot: China to Lead Global Market Growth, 2017-2022
Figure 21 North American NMP Market Snapshot: US Projected to Be Fastest-Growing Market
Figure 22 APAC NMP Market Snapshot: China Largest Market, 2017-2022
Figure 23 BASF: Company Snapshot
Figure 24 Ashland: Company Snapshot
Figure 25 Lyondellbasell: Company Snapshot
Figure 26 Eastman: Company Snapshot
Figure 27 Balaji Amines: Company Snapshot

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Abtonsmart Chemical Group
  • Ashland
  • Balaji Amines
  • BASF
  • Eastman
  • Lyondellbasell
  • MORE

The NMP market size is projected to grow from USD 572.5 Million in 2017 to USD 795.8 Million by 2022, at a CAGR of 6.8% during the forecast period. NMP is used in petrochemical, pharmaceutical, electronics, paints & coatings, and agrochemical industries. In the pharmaceutical industry, NMP is used in the extraction, purification, and crystallization of pharmaceuticals and is also used as an excipient for drugs.

The NMP market is categorized on the basis of application into petrochemicals, electronics, paints & coatings, agrochemicals, and pharmaceuticals. Petrochemicals segment is expected to be the largest application segment while the electronics segment is expected to grow at the highest CAGR during the forecast period.

NMP (N-Methyl-2-Pyrrolidone) Market

Asia Pacific is projected to remain the largest market for NMP. This market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. This growth can be attributed to the increasing lithium-ion battery production and growing pharmaceutical industry in the region. China, South Korea, and India are estimated to experience high investments in the lithium-ion battery production to leverage the increasing domestic demand. Pharmaceutical and agrochemical industries in China and India are increasing their production capacities to meet the rising local demand for respective products. These factors are estimated to drive the demand for NMP in the region during the forecast period.

Several lithium-ion battery manufacturers across the globe are increasing their production capacities to meet its rising demand, thereby fueling the demand for NMP in the electronics applications. However, they are also searching for a substitute for NMP to reduce the cost involved in using NMP in the lithium-ion battery production.

NMP-based drugs are used in anti-tumor treatments and hence, they are experiencing a surge in demand for use in medicines for cancer treatment. The growing pharmaceutical industry in APAC and South America is expected to create opportunities for NMP manufacturers in the respective markets during the forecast period.

Ashland (US), BASF (Germany), Eastman (US), Lyondellbasell (US), Mitsubishi Chemical Corporation (Japan), and Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd. (China) are some of the companies operating in the NMP market.

Note: Product cover images may vary from those shown
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  • Abtonsmart Chemical Group
  • Ashland
  • BASF
  • Balaji Amines
  • Eastman
  • Hefei TNJ Chemicals Industry Co.,Ltd
  • Lyondellbasell
  • Mitsubishi Chemical Corporation
  • Puyang Guangming Chemicals Co.,Ltd
  • Santa Cruz Biotechnology
  • Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd
  • Tokyo Chemical Industry Co., Ltd
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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