Global N-Methyl Pyrrolidone (NMP) Market Forecast and Dynamics: Total Value Will Hit $4193.25 Million by 2029

Global N-Methyl Pyrrolidone (NMP) Market Overview

According to Global Market Monitor, the global N-Methyl Pyrrolidone (NMP) market size is $2457.03 million in 2024 and is expected to grow to $4193.25 million by 2029.

N-Methyl Pyrrolidone (NMP) is an organic compound consisting of a 5-membered lactam. It is a colorless liquid, although impure samples can appear yellow. It is miscible with water and with most common organic solvents. It also belongs to the class of dipolar aprotic solvents such as dimethylformamide and dimethyl sulfoxide. NMP is a solvent that is used widely in the manufacture and production of electronics, petrochemical products, polymers and other specialty chemicals. It has numerous industrial, commercial, and consumer applications.

Market Segmentation

Electronic grade NMP is mainly used as solvent of polyvinylidene fluoride and electrode auxiliary material of lithium-ion battery. Can be used for photoresist stripping solution and LCD liquid crystal material production; Used for cleaning precision instruments and circuit boards in semiconductor industry. Electronic NMP is a necessary solvent for the production of lithium-ion battery, a new energy power.

Regional Market

The Asian market has great growth potential, which is mainly due to the technological progress, industrial growth, economic growth and low production cost of China, India, Japan and other countries. Asia has been transformed into a center, with developing economies such as China and India leading the growth. Asia has a great market advantage in electronic NMP, which is the main production area of semiconductor industry. Asia's semiconductor exports now account for 80% of the world's total. Meanwhile, new energy vehicles are developing rapidly in India and China. In the power lithium battery market, China, Japan and South Korea occupy a large market share. The vast downstream demand of Asian market drives the growth of NMP market. Japan, China and South Korea are the three largest lithium-ion battery producers in the world. Lithium battery industry, as a new energy vehicle power system developed vigorously by various countries, has shown explosive growth in this emerging market. With the global encouragement and support of new energy industry, the market demand potential of electronic NMP is great.

Market Constraints

N-methyl-Pyrrolidone use is associated with health problems such as headache, stomach pain, vomiting, nausea, and stomach pain. N-methyl-Pyrrolidone is thus on the Special Health Threat Drug List, and is banned for use in new processes in Europe. NMP absorbs quickly through the skin. Also, repeated overexposure over months or years to NMP and other solvents may also have long-lasting and probably irreversible effects on the nervous system. The symptoms of these long-term effects include fatigue, sleeplessness, impaired coordination, attention problems, loss of short-term memory and changes in personality such as depression, anxiety and irritability. Currently there are strict restrictions on its use in Europe and North America.

Players

Ganzhou Zhongneng is a comprehensive high-tech enterprise specializing in the research and development, design, manufacturing, sales and service of NMP solvent, gamma-butyrolactone and NMP recovery. The company has an annual output of more than 20,000 tons of NMP synthesis production, and an annual output of more than 50,000 tons of NMP recovery capacity; NMP has an annual production capacity of 80,000 tons. The production device is a continuous production device, the entire production process is controlled by DCS system, and the products produced are good consistency and high reliability.

Company Name	Ganzhou Zhongneng
Website	www.gzznsy.cn
Established Time	2011
Plants Distribution	China
Sales Region	Worldwide
Company News	March 2024: Ganzhou City Administration for Industry and Commerce announces its intention to accept the environmental impact assessment documents for Ganzhou Neng Industrial Co., LTD., including the planned 150,000 tons of NMP, 30,000 tons of GBL and 20,000 tons of 2P expansion projects. The company expects to build 50,000 tons of NMP synthesis production line and 50,000 tons of NMP recovery refining production line.