Market Overview:

The 2-Pyrrolidone Market, estimated to reach $595.76 million by 2030 with a CAGR of 3.8% from 2024-2030, is driven by growing use of 2-pyrrolidone as a precursor for N-vinylpyrrolidone synthesis, a solvent for animal injections, and an optical co-solvent in water-based inks is driving market growth. Its rising demand in pharmaceuticals, cosmetics, pesticide production, synthetic resins, and inks further boosts the market. Additionally, its applications in floor polishes and membrane filters, coupled with the expanding cosmetics sector, are expected to propel the global 2-pyrrolidone market in the forecast period.

Regional Insights:

North America dominated the 2-Pyrrolidone Market in 2023, The market in the region is witnessing expansion with the increasing consumption of 2-pyrrolidone in several end-use sectors such as electronics, chemicals, cosmetics, and others. Currently, rising growth of the chemicals, electronics, cosmetics, sector has uplifted the growth of the 2-pyrrolidone industry. The other end-user industries include pharmaceutical, cosmetics, printing inks, chemicals, and others. The major regions include Europe, Asia-Pacific, Latin America, and Middle East and Africa.

For More Queries About " 2-Pyrrolidone " @ https://www.industryarc.com/reports/request-quote?id=511434

Scope of the Report:

    Report Metric

                            Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

3.8%

Market Size in 2030

$595.76 million

Segments Covered

By Form, By Grade, By Packaging, By Application By End Use Industry, and By Region


Geographies Covered

North America (U.S, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherland, Spain, Russia, Belgium, and Rest of Europe), APAC (China, Japan, India, South Korea, Australia and New Zealand, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, Rest of South America) and RoW (Middle East and Africa).



Key Market Players

  1. NIPPON SHOKUBAI co. ltd

  2. BASF SE

  3. Ashland

  4. TCI Chemicals

  5. Mitsubishi Chemicals

  6. Solvay

  7. Eastman Chemical Company

  8. LyondellBasell

  9. Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd.

  10. Hefei TNJ Chemical Industry Co. Ltd. and others


2-Pyrrolidone Market: Recent Development

In August 2023, Mitsubishi Chemical Group (the MCG Group) to increase production capacity for high-purity solvent GBL in Japan. GBL is a high-purity solvent used as an electrolyte for capacitors and semiconductor parts cleaning solutions. It is also a raw material for N-methyl-2-pyrrolidone (NMP), used in lithium-ion batteries and for semiconductor parts cleaning solutions.

2-Pyrrolidone Market: Competitive Landscape

Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the 2-Pyrrolidone Industry. The top 10 companies in the 2-Pyrrolidone market are-
  1. NIPPON SHOKUBAI co. ltd
  2. BASF SE
  3. Ashland
  4. TCI Chemicals
  5. Mitsubishi Chemicals
  6. Solvay
  7. Eastman Chemical Company
  8. LyondellBasell
  9. Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd.
  10. Hefei TNJ Chemical Industry Co. Ltd. and others

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.  

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

Contact Us:

Mr. Venkat Reddy

IndustryARC

Email: [email protected]

USA: (+1) 518-282-4727