Pyrrolidone Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Market is Segmented by Type (1-Methyl-2-Pyrrolidone, 2-Pyrrolidone, N-Methyl-2-Pyrrolidone, and Other Types), Application (Solvents, De-colorants, Plasticizers, and Other Applications), End-user Industry (Electronics, Cosmetics, Chemical Processing, Pharmaceutical, and Other End-user Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Pyrrolidone Market Size

Pyrrolidone Market
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Study Period 2018 - 2028
Base Year For Estimation 2022
CAGR 4.00 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

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*Disclaimer: Major Players sorted in no particular order
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Pyrrolidone Market Analysis

The market for pyrrolidone is expected to register a CAGR of about 4% during the forecast period. The major factor driving the market studied is the increasing demand from the chemical processing industry. On the flip side, health hazards caused by N-Methyl-2-Pyrrolidone (NMP) and unfavorable conditions arising due to the COVID-19 outbreak are hindering the growth of the market.

  • The development of 2-Pyrrolidone derivatives as pharmaceutical drugs is expected to offer various opportunities for the growth of the market.
  • The chemical processing and cosmetics sectors are likely to be the dominant segments, in terms of demand, over the forecast period.
  • Asia-Pacific dominates the market across the world, with the largest consumption from countries, such as China, Japan, South Korea, and India.

Pyrrolidone Industry Segmentation

The scope of the pyrrolidone market report includes:

Type
1-Methyl-2-Pyrrolidone
2-Pyrrolidone
N-Methyl-2-Pyrrolidone
Other Types
Application
Solvent
Decolorant
Plasticizers
Other Applications
End-user Industry
Electronics
Cosmetics
Chemical Processing
Pharmaceuticals
Other End-user Industries
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Mexico
Canada
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Pyrrolidone Market Trends

This section covers the major market trends shaping the Pyrrolidone Market according to our research experts:

Increasing Demand from Chemical Processing Industry Segment

  • 1-Methyl-2-Pyrrolidone, 2-Pyrrolidone, and N-Methyl-2-Pyrrolidone are intensively used in the chemical processing industry, which is anticipated to register a CAGR of about 5%, globally, during the forecast period.
  • Major applications of the pyrrolidone derivates in the chemical processing industry are in extracting agents, reaction solvents, equipment washing, surface coating solvents, de-colorants, and plasticizers.
  • Pyrrolidone is heavily used in major unit operations present in refineries and petrochemical plants to extract the various useful chemicals. For example, N-Methyl Pyrrolidone (NMP) is used for the extraction of aromatics from heavier lube distillates for improving the viscosity index. The refining and petrochemicals market is growing at about 4% per year, indicating a stable demand from the sector.
  • The chemical processing industry is expected to dominate the pyrrolidone market over the forecast period.
Pyrrolidone Market Volume Share

Asia-Pacific to Dominate the Market

  • Asia-Pacific is expected to be the dominant market in pyrrolidone consumption, as the region dominates the market for the end-user industries, such as chemical processing, electronics, and cosmetics. In countries, like China, Japan, South Korea, and India, the demand for pyrrolidone has been increasing.
  • Pyrrolidone is also used as an ingredient in cosmetic formulations. Japan, Singapore, South Korea, Hong Kong, and China are among the top 10 global cosmetics exporters, and the overall Asian cosmetic market is expected to register a CAGR of about 5% during the forecast period.
  • N-Methyl-2-Pyrrolidone also finds application as a photoresist stripper, degreasing agent, and coating polyamides in the electronics industry. The Asian electronics market is expected to register a CAGR of more than 5%, with China, Japan, India, and South Korea among the top 10 global electronics manufacturers.
  • Thus, the rising demand from the aforementioned end-user industries is expected to drive the growth in the Asia-Pacific region.
Pyrrolidone Market Regional Trends

Pyrrolidone Industry Overview

The pyrrolidone market is fragmented with the presence of both international and domestic players. The major companies include BASF SE, Ashland, Eastman Chemical Company, Johnson Matthey, and Mitsubishi Chemical Corporation.

Pyrrolidone Market Leaders

  1. BASF SE

  2. Ashland

  3. Eastman Chemical Company

  4. Johnson Matthey

  5. Mitsubishi Chemical Corporation

*Disclaimer: Major Players sorted in no particular order

Market Concentration - Pyrrolidone Market.PNG

Pyrrolidone Market Report - Table of Contents

  1. 1. Introduction

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. Research Methodology

  3. 3. Executive Summary

  4. 4. Market Dynamics

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Chemical Processing Indsutry

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Health Hazards Caused by N-Methyl-2-Pyrrolidone

      2. 4.2.2 Unfavorable Conditions Arising Due to the COVID-19 Outbreak

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porters Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Technological Snapshot

    6. 4.6 Regulatory Policies

  5. 5. Market Segmentation

    1. 5.1 Type

      1. 5.1.1 1-Methyl-2-Pyrrolidone

      2. 5.1.2 2-Pyrrolidone

      3. 5.1.3 N-Methyl-2-Pyrrolidone

      4. 5.1.4 Other Types

    2. 5.2 Application

      1. 5.2.1 Solvent

      2. 5.2.2 Decolorant

      3. 5.2.3 Plasticizers

      4. 5.2.4 Other Applications

    3. 5.3 End-user Industry

      1. 5.3.1 Electronics

      2. 5.3.2 Cosmetics

      3. 5.3.3 Chemical Processing

      4. 5.3.4 Pharmaceuticals

      5. 5.3.5 Other End-user Industries

    4. 5.4 Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Mexico

        3. 5.4.2.3 Canada

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 South America

        1. 5.4.4.1 Brazil

        2. 5.4.4.2 Argentina

        3. 5.4.4.3 Rest of South America

      5. 5.4.5 Middle-East and Africa

        1. 5.4.5.1 Saudi Arabia

        2. 5.4.5.2 South Africa

        3. 5.4.5.3 Rest of Middle-East and Africa

  6. 6. Competitive Landscape

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)/Ranking Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Arkema Group

      2. 6.4.2 Ashland

      3. 6.4.3 BASF SE

      4. 6.4.4 Chemex Organochem Pvt. Ltd

      5. 6.4.5 Covestro AG

      6. 6.4.6 DuPont

      7. 6.4.7 Eastman Chemical Company

      8. 6.4.8 Huntsman Corporation

      9. 6.4.9 INEOS Composites

      10. 6.4.10 Johnson Matthey

      11. 6.4.11 LyondellBasell

      12. 6.4.12 Merck KGaA

      13. 6.4.13 Mitsubishi Chemical Corporation

    5. *List Not Exhaustive

  7. 7. Market Opportunities and Future Trends

    1. 7.1 Development of 2-Pyrrolidone Derivatives as Pharmaceutical Drugs

    2. 7.2 Others

**Subject to Availability
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Pyrrolidone Market Research FAQs

The Pyrrolidone Market is projected to register a CAGR of 4% during the forecast period (2023-2028).

BASF SE, Ashland, Eastman Chemical Company, Johnson Matthey and Mitsubishi Chemical Corporation are the major companies operating in the Pyrrolidone Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the Asia Pacific accounts for the largest market share in the Pyrrolidone Market.

Pyrrolidone Industry Report

Statistics for the 2023 Pyrrolidone market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Pyrrolidone analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

Pyrrolidone Report Snapshots

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