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Booming Industrialization in Asia Pacific Propels N-Methyl-2-Pyrrolidone Market in the Region

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N-Methyl-2-Pyrrolidone, also known as N-Methylpyrrolidone, is used in a wide range of industries. This substance is characterized by qualities such as a high flash point and low volatility. This colorless substance is a polar aprotic solvent. N-Methylpyrrolidone (NMP) is derived by condensing gamma monomethylamine and butyrolactone. The aforementioned properties of NMP make it a popular substance in several applications across various industries.

Global N-Methyl-2-Pyrrolidone (NMP) Market Report: http://www.mrrse.com/n-methyl-2-pyrrolidone-market

Low Volatility and High Solvency Make N-Methyl-2-Pyrrolidone a Popular Choice amongst Industries

Over the years, NMP has been widely used in paint strippers, process solvent applications, and agricultural chemicals, as it is an excellent solvent that delivers exceptional performance. It is also used as a co-solvent to enhance the gloss effect on floor polishes. Its properties of low volatility and high solvency also make it a popular product in the automotive industry and for making industrial cleaners with solvents such as terpenes, propylene carbonate, hydrocarbons, and propylene glycol ethers. NMP is also used in the electronics industry in the form of photoresist stripper. In this industry, it can easily be used for substituting 1,1,1-tricholoroethane, which is an ozone-depleting substance. Furthermore, NMP also comes in handy for applications such as cleaning tough metal parts.

The global N-Methyl-2-Pyrrolidone market is segmented on the basis of application and region. Application-wise, this market is divided into industries such a paints and coatings, industrial cleaners, pharmaceuticals, agrochemicals, petrochemical processing, and electronics. Regionally, this market is divided into North America, Europe, the Middle East and Africa, and South America.

Asia Pacific to Emerge as a Leader in Global N-Methyl-2-Pyrrolidone Market

The primary reason for growth of the global N-Methyl-2-Pyrrolidone market is the growing number of end-use industries. Emerging economies in the Asia Pacific region are expected to fuel these industries in the coming years. With these factors on either side of the equation, they are going to sum up to a positive growth of the global N-Methyl-2-Pyrrolidone market from 2015 to 2020.

According to a research report, Asia Pacific is going to emerge as a leader in the global N-Methyl-2-Pyrrolidone market due to massive industrialization and its sustenance in the coming years. Research analysts predict that the market will grow at a CAGR of more than 7% in the years between 2015 and 2020.

Browse the full Press Release of Global N-Methyl-2-Pyrrolidone (NMP) Markethttp://www.mrrse.com/N-methyl-2-pyrrolidone-industry

The prime negative factor acting on the global N-Methyl-2-Pyrrolidone market is that many countries in Europe and North America have categorized it as a reproductive and developmental toxin across the globe. This move by the regulatory bodies is severely going to affect the usage of NMP in paints and coatings and industrial cleaners in the regions. Unfortunately, these factors are going to decelerate the growth of the N-Methyl-2-Pyrrolidone market in North America and Europe in the near future.

The important players in the global N-Methyl-2-pyrrolidone market are Ashland, BASF, Dupont, Binzhou Yuneng, Shandong Qingyun Changxin, Puyang MYJ, Nanjing Jinlong, Mitsubishi Chemical, Puyang Guangming, Zhejiang Realsun, LyondellBasell, and Taizhou Yanling.