PUBLISHER: Grand View Research | PRODUCT CODE: 1404918
PUBLISHER: Grand View Research | PRODUCT CODE: 1404918
The global N-methyl-2-pyrrolidone market size is expected to reach USD 1.33 billion by 2030, registering a CAGR of 4.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The NMP market is expected to witness significant growth over the forecast period owing to the increasing demand from Asia Pacific region.
N-Methyl-2-Pyrrolidone (NMP) is used in a various applications including oil & gas, pharmaceutical, electronics, paints & coatings, agrochemicals and others. Emerging economies such as India are witnessing increasing FDI which is fueling the growth of industrial sector. Asia Pacific region is expected to witness higher growth rates owing to rapid urbanization in these countries coupled with per-capita disposable income levels.
Oil & gas dominated the market for NMP globally. The other key applications include electronics, pharmaceuticals, paints & coatings and agrochemicals.