N-Methyl Pyrrolidone Market Size

Statistics for the 2023 & 2024 N-Methyl Pyrrolidone market size, created by Mordor Intelligence™ Industry Reports. N-Methyl Pyrrolidone size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of N-Methyl Pyrrolidone Industry

N-Methyl Pyrrolidone Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.03 Billion
Market Size (2029) USD 1.27 Billion
CAGR (2024 - 2029) > 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific

Major Players

N-Methyl Pyrrolidone Market Major Players

*Disclaimer: Major Players sorted in no particular order

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N-Methyl Pyrrolidone Market Analysis

The N-Methyl Pyrrolidone Market size is estimated at USD 1.03 billion in 2024, and is expected to reach USD 1.27 billion by 2029, growing at a CAGR of greater than 4% during the forecast period (2024-2029).

  • The growing demand for NMP in the electronics industry and increasing usage in the pharmaceutical industry are expected to drive the market. Oil and gas, pharmaceuticals, and electronics industries are the major consumers of n-methyl pyrrolidone.
  • However, health issues due to excess usage and government regulations are expected to hinder the market's growth during the forecast period.
  • The rising usage of N-methyl pyrrolidone in new applications and new methods of manufacturing creates an opportunity in the market.
  • Asia-Pacific dominates the market with the largest consumption from countries such as China, India, Japan, and South Korea.

N-Methyl Pyrrolidone Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)