Global N-Methyl-2-Pyrrolidone (Nmp) Market Is Expected to Reach Us$ 1.5 Bn by 2022: Credence Research

According to a new market report published by Credence Research “N-Methyl-2-Pyrrolidone (NMP) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2021,” the N-Methyl-2-Pyrrolidone market was valued at US$ 1.11 Bn in 2015, and is expected to reach US$ 1.54 Bn by 2022, expanding at a CAGR of 5.6% from 2016 to 2022.

Browse the full N-Methyl-2-Pyrrolidone (NMP) Market for Petrochemicals, Electronics, Pharmaceuticals, Agrochemicals, Paints & Coatings and Other Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021 report at http://www.credenceresearch.com/report/n-methyl-2-pyrrolidone-nmp-market

Market Insight

N-Methyl-2-Pyrrolidone (NMP) is an organic compound which belongs to the class of dipolar aprotic solvents. The miscible property of NMP has led to high demand for various applications in the end-use industries. N-Methyl-2-Pyrrolidone is also known as N-methylpyrrolidinone under the brand name Pharmasolve. NMP, due to its solvency properties is used on a large scale to dissolve wide range of chemicals for use as polymers many end use industries. It is also used as solvent for surface treatment of resins, metal coated plastic and textiles. Therefore, high demand is reported for NMP worldwide.

Pharmaceutical is the major application driving the growth of global N-Methyl-2-Pyrrolidone market in 2016. It accounted for major share of global N-Methyl-2-Pyrrolidone market and is expected to retain its position in the near future. NMP is used in many chemicals which are used in manufacture of wide range of products in the end-use industries. Petrochemicals industry is another factor driving the growth of global N-Methyl-2-Pyrrolidone market in 2016. NMP is used to extract pure hydrocarbons and in desulphurization if gases. It is also used as solvent for extraction in lube oil processing. Therefore, petrochemical industry is expected to fuel growth of global N-Methyl-2-Pyrrolidone market in the...