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Increasing demand for 2-Pyrrolidone Market in the pharmaceutical sector. is estimated to drive the growth of the industry.

HYDERABAD, TELANGANA, INDIA, January 17, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that 2-Pyrrolidone Market a process solvent for membrane filters, and a copolymer for floor polishes, is driving the growth of the market. Also, the rising demand for 2-pyrrolidone as a pharmaceutical derivative in cotinine, doxapram, piracetam, povidone, and ethosuximide is uplifting the global 2-pyrrolidone market growth. Additionally, 2-pyrrolidone is widely used as raw materials in the cosmetics industry. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Global-2-Pyrrolidone-Industry-Market-Research-511434

Key takeaways:

This IndustryARC report on the 2-Pyrrolidone Market highlights the following areas -

1. The APAC region dominates the global 2-Pyrrolidone Market due to the huge government investments made in the pharmaceutical industries in emerging economies such as China, Japan, India, and South Korea.

2. Rapidly rising demand for 2-pyrrolidone owing to its high boiling point, chemically and thermally stable, and non-corrosive nature in solvents, plasticizers, and other applications, is estimated to drive the growth of the industry.

3. Furthermore, rising acute health effects will hinder the growth of the global 2-pyrrolidone market in the forecast period.

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https://www.industryarc.com/pdfdownload.php?id=511434

Segmental Analysis:

1. Solvents held the largest share in the global 2-pyrrolidone market and is expected to continue its dominance over the period 2022-2027. Owing to the alluring characteristics, 2-pyrrolidone is the widely used solvent. It has a high boiling point and is miscible with practically all other organic solvents such as (ethers, alcohols, aromatic hydrocarbons, esters, carbon disulfide, chlorinated hydrocarbons, and others). Additionally, the usage of global 2-pyrrolidone as solvents in synthetic resin, agricultural chemicals, and others is driving the growth of the industry.

2. The Asia-Pacific region dominated the global 2-pyrrolidone market with a share of 35% in terms of value in the year 2021. The market in the region is witnessing expansion with the increasing consumption of 2-pyrrolidone in several end-use sectors such as electronics, chemicals, cosmetics, and others. Currently, rising growth of the chemicals, electronics, cosmetics, sector has uplifted the growth of the 2-pyrrolidone industry.

3. The cosmetics sector dominated the global 2-pyrrolidone market with 23.6% in 2021 and is projected to grow at a CAGR of 4.3% during 2022-2027. The cosmetics industry is the largest consumer of 2-pyrrolidone, which is used as solvents in the skin care products. Also, 2-pyrrolidone is majorly used as a raw material in the cosmetic production.

Competitive Landscape:

The top 5 players in the 2-Pyrrolidone Industry are -

1. Mitsubishi Chemical Corporation
2. BASF SE
3. Ashland
4. Johnson Matthey
5. Eastman Chemical Company

Click on the following link to buy the 2-Pyrrolidone Market Report:
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Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. N-Methyl-2-Pyrrolidone Market
https://www.industryarc.com/Report/16180/n-mmethyl-2-pyrrolidone-market.html

B. N-Ethyl-2-Pyrrolidone Market
https://www.industryarc.com/Report/16175/n-ethyl-2-pyrrolidone-market.html

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