N-Methyl-2-Pyrrolidone Market Set to Grow by USD 388.99 million During 2020-2024
The n-methyl-2-pyrrolidone market is expected to experience a neutral impact during the forecast period due to the widespread growth of the COVID-19 pandemic. According to Technavio, the market is expected to grow by USD 388.99 million during 2020-2024. The market will witness a moderate increase in growth compared to 2019, as organizations across the globe are gradually flattening their recessionary curve by leveraging technology.
Key Takeaways:
- The n-methyl-2-pyrrolidone market will witness a CAGR of over 5% during the forecast period, driven by high demand from APAC and the adoption of the green pathway for producing N-methyl-2-pyrrolidone.
- The market is expected to grow by USD 388.99 million during 2020-2024, with a moderate increase in growth compared to 2019.
- The adoption of the green pathway for producing N-methyl-2-pyrrolidone will be a key factor driving market growth during the forecast period.
- The n-methyl-2-pyrrolidone market is segmented into application, geography, and vendor landscape, with APAC expected to be the largest contributor to market growth.
- Major vendors in the n-methyl-2-pyrrolidone market include Abtonsmart Chemicals (Group) Co. Ltd., Ashland Global Holdings Inc., and BASF SE.
- The market will witness a neutral impact during the forecast period, with both optimistic and pessimistic scenarios expected to unfold.
Statistics:
- USD 388.99 million: The expected growth of the n-methyl-2-pyrrolidone market during 2020-2024.
- 17,000+: The number of market research reports published by Technavio.
- 500+: The number of specialized analysts employed by Technavio.
- 50: The number of countries covered by Technavio's report library.
- 800: The number of technologies covered by Technavio's report library.
Sources:
- Technavio. (2020). Global N-Methyl-2-Pyrrolidone Market 2020-2024.
- Business Wire. (2020, December 6). N-Methyl-2-Pyrrolidone Market Set to Grow by USD 388.99 million During 2020-2024.