Market Size of N-Methyl Pyrrolidone Industry
| 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
*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.
