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N-Methyl-2-pyrrolidone (NMP) is an organic solvent used in a wide range of industrial applications such as petrochemical processing, electronic cleaning, and pharmaceutical production. It is a clear, colorless liquid with a slightly amine-like odor. Market Overview: The  global NMP market  size was valued at USD 1.2 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.2% from 2021 to 2028. The increasing demand for NMP in the pharmaceutical and petrochemical industries is driving the growth of the market. Additionally, the rising demand for high-performance solvents in various end-use industries, such as agrochemicals, paints and coatings, and electronics, is expected to drive the demand for NMP during the forecast period. Application: Pharmaceuticals: NMP is widely used as a solvent in pharmaceutical manufacturing for the production of drugs, intermediates, and active pharmaceutical ingredients (APIs). Petrochemicals: NMP is used as a solvent i...

  N-Methyl-2-Pyrrolidone (NMP)   is a highly polar, water-soluble, and low-viscosity liquid. It is a member of the pyrrolidone family of compounds and has a chemical formula of C5H9NO. NMP is a versatile chemical that is used as a solvent in a variety of industrial applications. Market Drivers: Growing demand for NMP in the pharmaceutical industry for drug formulation and drug delivery systems. Increasing demand for NMP as a solvent in the production of lithium-ion batteries. Growing demand for NMP in the production of polymers and plastics. Increasing use of NMP as a solvent in the electronics industry for the production of semiconductors and printed circuit boards. Growing demand for NMP as a solvent in the agrochemical industry for the production of pesticides and herbicides. Market Restraints: Stringent government regulations regarding the use of NMP due to its toxic nature. Availability of substitutes such as dimethylformamide (DMF), dimethylacetamide (DMAc), and N-ethylp...