• 出版社/出版日：Mordor Intelligence / 2021年5月25日
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The Global N-Methyl Pyrrolidone Market is expected to register a CAGR of more than 4% during the forecast period (2021-2026).
The market was significantly impacted by COVID-19 in 2020. Several countries were forced to go in lockdown owing to the pandemic scenario, which led to the shutdown of manufacturing facilities of almost every industry worldwide for a specified time. The oil and gas industry along with pharmaceuticals and electronics, which are the major consumers of n-methyl pyrrolidone was severely impacted by the pandemic. The global oil demand shrank by around 15 to 20 million barrels per day (mbpd) due to extensive lockdown in oil-consuming economies. The leading oil-consuming nations such as the United States were initially struggling to cope with the corona spread. Electronics production was further done, due to movement restrictions which lead to disruptions in supply chains, causing shipment delays for electronics manufacturers. However, all these industries are expected to recover through the years to come.
– Increasing demand in oil and gas application, and growing demand in electronics industry is expected to drive the market studied.
– Health related issues due to excess usage is expected to hinder the market growth through the forecast period.
– Asia-Pacific region dominated the market across the globe with the largest consumption from countries such as China, South Korea, India, and Japan.
Key Market Trends
Increasing Demand from Electronics Segment
– N-methyl pyrrolidone is an organic compound which is produced industrially by ester-to-amide conversion. It consists of 5 membered lactam and is a colorless liquid which is miscible with water and with most common organic solvents.
– The application of n-methyl pyrrolidone in electronics industry is increasing owing to the usage in the production of lithium ion batteries for electric vehicles, semiconductor device fabrication and wire enamel coating. It is also used for the removal of excess burr at the time of production of various electronic parts.
– N-methyl pyrrolidone is widely used as a solvent in the production of conformal coatings such as epoxy and polyurethane coatings in printed circuit boards (PCB). It is also used for degreasing, cleaning, and as a photoresist stripper.
– According to Zentralverband Elektrotechnik- und Elektronikindustrie e.V. (ZVEI), the German Electrical and Electronic Manufacturers’ Association, the global electric production was at EUR 4.2 trillion in 2017, which increased by EUR 4.4 trillion in 2018 and was further estimated to reach EUR 4.5 trillion in 2019. However, the industry declined to EUR 4.4 trillion by 2020 end (estimated), severely impacted by the COVID-19 pandemic. In 2019, the industry registered a growth rate of more than 2% which declined to -3% in 2020, but is expected to recover and reach to more than 6% in 2021.
– All such factors are expected to drive the market for n-methyl pyrrolidone over the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the market for n-methyl pyrrolidone during the forecast period. In countries like China, Japan, and India owing to significant growth in various end-user industries namely oil and gas, pharmaceutical, and electronics industry, the demand for n-methyl pyrrolidone has been increasing in the region.
– The usage of n-methyl pyrrolidone in the oil and gas industry is increasing as it is used as an extraction medium in several applications like BTX extraction, lube oil purification, and butadiene recovery. According to International Energy Agency, after a 4% drop in 2020, natural gas demand is expected to progressively recover in 2021 as consumption level returns close to its pre-crisis level in mature markets, while emerging markets benefit from an economic rebound and lower natural gas prices, thus affecting the n-methyl pyrrolidone market positively.
– In the electronics industry, n-methyl pyrrolidone is used as a solvent in the production of flexible polyimide copper clad board (FCCL) and in the production of photoresists which are used in the production of printed circuit boards, flat panel liquid crystal displays, micro electro mechanical systems (MEMs), and integrated circuit (IC) devices including microprocessors and memory chips. China dominates the electronics production in the global market. The country’s electronics production which was steadily increasing through the years, has recently suffered from deceleration owing to the ongoing trade war between China and United States, forcing various electronics producers to shift their base from China to other countries in Asia-Pacific region.
– Moreover, China is forecasted to produce over 10 million electric vehicles by 2022, which would increase the demand of lithium-ion batteries, consequently, surge the demand of n-methyl pyrrolidone, which is likely to drive its market in the region during the forecast period.
– The increasing drilling activities in India, in response to the increasing demand for oil and gas, may drive the growth of the domestic oil and gas industry. The Government of India announced plans to raise the share of natural gas in the country’s energy mix from 6% in 2016 to 15% by 2022.
– The Indian electronics industry is one of the fastest-growing industries globally. The domestic electronics manufacturing sector has been expanding at a steady rate, owing to favorable government policies, such as 100% foreign direct investment (FDI), no industrial license requirement, and the technological transformation from manual to automatic production processes. New incentives, such as Modified Incentive Special Package Scheme (M-SIPS) and Electronic Development Fund (EDF), have been started in the country, with a budget of USD 114 million, to support the domestic manufacturing of electronics in India.
– All such aforementioned factors, coupled with government support, are contributing to the increasing demand for n-methyl pyrrolidone during the forecast period.
The n-methyl pyrrolidone market is consolidated with top players accounting for a major share of the market. Major companies in the market include BASF SE, Ashland, Eastman Chemical Company, Mitsubishi Chemical Corporation, and LyondellBasell Industries Holdings B.V., amongst others.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Increasing Demand in Oil and Gas Application
4.1.2 Growing Demand in Electronics Industry
4.2.1 Health Related Issues Due to Excess Usage
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Force Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Oil and Gas
5.1.3 Paints and Coatings
5.1.6 Other Applications
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.2.2 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
5.2.4 South America
22.214.171.124 Rest of South America
5.2.5 Middle-East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.2 BALAJI AMINES
6.4.3 BASF SE
6.4.4 Eastman Chemical Company
6.4.5 Hefei TNJ Chemical Industry Co.,Ltd.
6.4.6 LyondellBasell Industries Holdings B.V.
6.4.7 Merck KGaA
6.4.8 Mitsubishi Chemical Corporation
6.4.9 Santa Cruz Biotechnology, Inc.
6.4.10 Shandong Qingyun Changxin Chemical Science-Tech Co., Ltd.
6.4.11 Tokyo Chemical Industry Co., Ltd.
6.4.12 Xuchang Ruida Biology Technology Co., Ltd
6.4.13 Zhejiang Realsun Chemical Co.,Ltd.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Application in Pharmaceutical Industry
7.2 Other Opportunities