N-Methyl-2-Pyrrolidone Market, By Application (Electronics, Petrochemical Processing, Agrochemicals, Pharmaceuticals, Paints & coatings, Industrial cleaners, Others), By Region (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Jun 2023

Code : CMI3860

Pages :170

Formats :

Excel and PDF

Industry : Specialty and Fine Chemicals

Market Challenges And Opportunities

Global N-Methyl-2-Pyrrolidone Market - Drivers

Growing demand for N-Methyl-2-Pyrrolidone from the electronic industry
Rising demand for N-Methyl-2-Pyrrolidone from the automotive industry

Global N-Methyl-2-Pyrrolidone Market - Opportunities

The rising demand for N-Methyl-2-Pyrrolidone from pharmaceutical industry
Increasing application of NMP in the manufacturing of magnetic wire coatings

Global N-Methyl-2-Pyrrolidone Market- Restraints

Side-effects associated with prolonged exposure to NMP

Side effects associated with prolonged exposure to NMP are projected to restrict the use of the product which in turn will hamper the market growth. Prolonged exposure to NMP may cause skin, eye irritation, and other health issues which are expected to limit the use of N-Methyl-2-Pyrrolidone. Moreover, the increasing focus of manufacturers on conducting various R&D activities in order to develop an ideal substitute for NMP with toxicity is expected to hamper the market growth over the forecast period.