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N-Ethyl-2-Pyrrolidone Market - Forecast (2022 - 2027)

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  • 117 Pages
  • March 2022
  • Region: Global
  • IndustryARC
  • ID: 5616216
The N-Ethyl-2-Pyrrolidone Market is forecast to reach $1.4 Million by 2027, after growing at a CAGR of 5.59% during 2022-2027. Surgery of N-Ethyl-2-Pyrrolidone is performed to resolve the root cause of peripheral artery disease, plaque reduction, and others. They are part of minimum invasive surgery to redirect blood supply to the other part of the lungs where oxygenated blood flow was blocked by the blood clot. Globally, the advancement of powerful and advanced technologies and rising demand are the key growth drivers of the global N-Ethyl-2-Pyrrolidone market for industrial usage in the petrochemical industry. In addition, the improved use of N-Ethyl-2-Pyrrolidone for peripheral artery diseases will build new prospects for the global demand for N-Ethyl-2-Pyrrolidone in developing economies such as China, India and others.

Report Coverage

The “N-Ethyl-2-Pyrrolidone Market report - Forecast (2022-2027)” covers an in-depth analysis of the following segments of the N-Ethyl-2-Pyrrolidone Market.
  • By Application: Paints & Coatings, Industrial Cleaners, Pharmaceuticals, Electronics, Petrochemical Processing and Others.
  • By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • N-Ethyl-2-Pyrrolidone, usually known as NEP, is a strongly polar protic solvent with a C6H11NO chemical structure. The chemical is used as either a catalyst or a surfactant or as a solvent, depending on the application. This incredibly stable, weak organic alkaline solvent exhibits full water miscibility and is soluble in organic solvents. In addition, N-Ethyl-2-Pyrrolidone is a colorless to yellow liquid that is distinguished by an odor-like amine and is used in several chemical reactions including among others, hydrolysis, condensation, polymerization.
  • NEP is also used as a replacement for N-Methyl-2-Pyrrolidone (NMP), which is used in various industries on a larger scale. Various industries, such as paints & coatings, factory cleaners, petrochemical manufacturing, gas desulfurization, among others, absorb NEP.
  • The COVID-19 pandemic and resulting suspension of development activities shall have an effect on the availability of a number of green chemicals to the supply. In addition, recent trade tensions would also have a significant effect on the supply of chemical stocks in import-dependent countries.

N-Ethyl-2-Pyrrolidone Market Segment Analysis - By Application

The pharmaceuticals industry has been the major market for N-Ethyl-2-Pyrrolidone by growing at a CAGR of 4.96% during the forecast period 2022-2027. Because of the higher prevalence of cancer patients, the pharmaceutical industry has the largest market share in the global N-Ethyl-2-Pyrrolidone market. It is used as a raw material for the manufacturing of many antipsychotics and antibiotics in the pharmaceutical industry and also serves as a solvent for diclofenac in topical preparations, a solvent for acne treatments and a transdermal transport enhancer. Rising demand worldwide for the pharmaceutical industry is driving the growth of the market for N-Ethyl-2-Pyrrolidone.

N-Ethyl-2-Pyrrolidone Market Segment Analysis - Geography

APAC dominated the N-Ethyl-2-Pyrrolidone Market share with more than 33%, followed by North America and Europe. During the forecast period, the region will give market vendors many growth opportunities. Increased investment in industrial operations, coupled with lower regulations in APAC countries, would significantly drive the development of the demand for N-ethyl-2-pyrrolidone in the region over the projected period. With growing demand throughout the Asia Pacific region in various industries such as pharmaceuticals, and paint & coatings. Due to economic growth, developing economies and rising pharmaceutical industries, China, India and Japan are projected to be the fastest growing markets over the estimated timeframe in the near future.

N-Ethyl-2-Pyrrolidone Market Drivers

Increasing demand due to the replacement of NMP

Regulatory agencies such as the Environmental Protection Agency (EPA) - the U.S. and European Chemical Agency - have investigated the use of NMP in applications such as paints & coatings and industrial cleaners requiring extended exposure to the chemical (ECHA). It has been characterized as a reproductive toxin and it is expected that its use in these applications will be subject to stringent regulations and/or restrictions. NEP, which exhibited similar properties to those of NMP, was deemed an apt substitution for NMP. However, NEP has already been identified as a reproductive toxin and as such, it is predicted that its use in some applications would suffer the same fate as NMP. The rise of the end-use sectors, however is likely to lead to growth in demand for NEP. In exchange, these aforementioned factors are projected to lead to slow growth in the global demand for N-Ethyl-2-Pyrrolidone over the forecast period.

N-Ethyl-2-Pyrrolidone Market Challenges

Higher research and development costs are the main constraints of the global demand for N-Ethyl-2-Pyrrolidone

However, the higher cost of R&D and along with the price fluctuations of materials are expected to slow down the growth of the market. Owing to volatility in the supply of raw materials coupled with adverse weather conditions, raw materials are experiencing a surge in their prices, due to which manufacturers are looking for more economical raw materials.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the N-Ethyl-2-Pyrrolidone Market. In 2019, the market of N-Ethyl-2-Pyrrolidone has been consolidated by the top five players accounting for xx% of the share. Major players in the N-Ethyl-2-Pyrrolidone Market are Pu Eastman, Puyang Guangming Chemicals, BASF, Ashland, Hangzhou Colorific Chemicals, Anhui Jinao Chemical, Jiangxi Hengxiang Chemical, Zhejiang Liansheng Chemical, Wuhan Hengwo Technology and among others.

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Table of Contents

1. N-Ethyl-2-Pyrrolidone Market- Market Overview
1.1 Definitions and Scope
2. N-Ethyl-2-Pyrrolidone Market- Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Application
2.3 Key Trends by Geography
3. N-Ethyl-2-Pyrrolidone Market- Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. N-Ethyl-2-Pyrrolidone Market- Market Forces
4.1 Market Drivers
4.2 Market Constraints
4.3 Market Opportunities
4.4 Porters five force model
4.4.1 Bargaining power of suppliers
4.4.2 Bargaining powers of customers
4.4.3 Threat of new entrants
4.4.4 Rivalry among existing players
4.4.5 Threat of substitutes
5. N-Ethyl-2-Pyrrolidone Market-Strategic analysis
5.1 Value chain analysis
5.2 Opportunities analysis
5.3 Market life cycle
5.4 Suppliers and distributors Analysis
6. N-Ethyl-2-Pyrrolidone Market- By Application (Market Size -$Million)
6.1 Paints & Coatings
6.2 Industrial Cleaners
6.3 Pharmaceuticals
6.4 Electronics
6.5 Petrochemical Processing
6.6 Others
7. N-Ethyl-2-Pyrrolidone Market- By Geography (Market Size -$Million)
7.1 North America
7.1.1 U.S.
7.1.2 Canada
7.1.3 Mexico
7.2 South America
7.2.1 Brazil
7.2.2 Argentina
7.2.3 Colombia
7.2.4 Chile
7.2.5 Rest OF South America
7.3 Europe
7.3.1 U.K
7.3.2 Germany
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Netherlands
7.3.7 Russia
7.3.8 Belgium
7.3.9 Rest of Europe
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 ANZ
7.4.4 Japan
7.4.5 South Korea
7.4.6 Rest of Asia Pacific
7.5 ROW
7.5.1 Middle East Saudi Arabia UAE Israel Rest of Middle East
7.5.2 Africa South Africa Nigeria Rest of South Africa
8. N-Ethyl-2-Pyrrolidone Market- Entropy
8.1 New Product Launches
8.2 M&A’s, Collaborations, JVs and Partnerships
9. N-Ethyl-2-Pyrrolidone Market- Company Analysis
9.1 Market Share, Company Revenue, Products, M&A, Developments
9.2 Company 1
9.3 Company 2
9.4 Company 3
9.5 Company 4
9.6 Company 5
9.7 Company 6
9.8 Company 7
9.9 Company 8
9.10 Company 9
9.11 Company 10 and more