The report covers the total addressable market, market penetration, opportunity, and demand for N-Methyl Pyrrolidone from 2016-2026

LEWES, DELAWARE, UNITED STATES, August 3, 2022 /EINPresswire.com/ -- N-Methyl Pyrrolidone (NMP) is an organic compound consisting of a 5-membered lactam. It is a colorless liquid, although impure samples can appear yellow. It is miscible with water and with the most common organic solvents. It also belongs to the class of dipolar aprotic solvents such as dimethylformamide and dimethyl sulfoxide. NMP is a solvent that is used widely in the manufacture and production of electronics, petrochemical products, polymers, and other specialty chemicals. It has numerous industrial, commercial, and consumer applications.

Our recent study showed that the Global N-Methyl Pyrrolidone market had total revenue of 960 M USD in 2016 and increased to 2120 M USD in 2021. We study the development law of the market in the past few years and establish a data model to analyze and deduce future market changes. Finally, we made the prediction that the value of N-Methyl Pyrrolidone markets can be 3389 M USD by 2026. The CAGR of N-Methyl Pyrrolidone is 9% from 2021 to 2026.

China was the largest revenue market, with a market share of 33% in 2016 and 38% in 2021, an increase of 5%. In 2021, Europe's market share was 20%, ranking second. With the improvement of the economic level, the downstream demand continues to expand, and the technological level of these regions continues to improve, which will further promote market development.

N-Methyl Pyrrolidone companies are mainly from China; the industry concentration rate is high. The market share of the top three companies in 2020 was 45.01%. The top three companies are Changxin Chemical, LyondellBasell, and BASF, with a revenue market share of 17%, 14%, and 13% in 2020.

Other players include:
>Ganzhou Zhongneng
>Mitsubishi Chemical
>Binzhou Yuneng
>Eastman
>Puyang MYJ
>Ashland
>Puyang Guangming
>Zhejiang Realsun
>Taizhou Yanling

Market segmentation by types:
>Electronic Grade
>Pharmaceutical Grade
>Industrial Grade
>Others

Market segmentation by applications:
>Petrochemicals
>Electronics
>Paints & Coatings
>Agrochemicals
>Pharmaceuticals
>Others

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