N-Methylformamide Market

N-Methylformamide Market: Overview

• N-Methylformamide (HCONHCH3/NMF) belongs to the class of organic compounds called carboximidic acids
• N-Methylformamide is an odorless, colorless, and water-soluble organic compound that is available in the liquid form at room temperature. It is primarily used as reagent in different organic syntheses as a highly polar solvent.
• N-Methylformamide acts as an adjuvant antineoplastic agent and reduces cellular glutathione, a molecule involved in antioxidation of reactive oxygen species (ROS)
• N-Methylformamide is used as chemical intermediate and organic solvent in various chemical processes. It is also employed in dyes, medicines, spices, electroplating, and electrolysis. N-Methylformamide is related to other formamides such as dimethylformamide (DMF).
• Other applications of N-Methylformamide include preparation of methyl isocyanate, extraction solvent for aromatic hydrocarbons, solvent in aluminum electrolytic capacitors, and oil refineries
• It is also used as an investigational anticancer drug as well as an intermediate in the manufacture of various pharmaceutical compounds

Rise in Demand for N-Methylformamide in Chemical Industry

• The N-Methylformamide market is anticipated to expand significantly during the forecast period. Rise in population and increase in demand for pharmaceuticals are key factors expected to boost the demand for N-Methylformamide during the forecast period.
• Increase in production of spices and flavorings is driving the demand for N-Methylformamide in the food & beverages industry
• Leading manufacturers are focusing on the development of customized product solutions based on industrial requirements
• Fluctuation in the price of N-Methylformamide is anticipated to hamper the market. Availability of the cheaper substitutes for N-Methylformamide is also estimated to adversely affect the market in the near future.

≥99.0% Purity Segment Estimated to Offer Lucrative Opportunities

• Based on purity, the global N-Methylformamide market can be segmented into ≥99.0%, ≥99.5%, and others
• ≥99.0% is anticipated to be a rapidly growing segment of the global N-Methylformamide market during the forecast period. N-Methylformamide with ≥99.0% purity is widely used as solvent and chemical intermediate in various end-use industries. The segment is anticipated to expand at a rapid pace during the forecast period, due to the increase in consumption of ≥99.0% pure N-Methylformamide across various end-use industries.

Pharmaceutical Application Segment to Offer Significant Opportunities

• Based on application, the global N-Methylformamide market can be segregated into pharmaceuticals, spice & flavor, electrolysis & plating, and others
• Pharmaceuticals is projected to be a rapidly growing segment of the global N-Methylformamide market during the forecast period
• N-Methylformamide is used as a urinary biomarker. It is widely used due to its miscibility with water and solvents. N-Methylformamide metabolism results in formation of N-methylcarbamoyl.

Asia Pacific to Hold Key Share of Global N-Methylformamide Market

• In terms of region, the global N-Methylformamide market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• Asia Pacific is anticipated to constitute significant share of the global N-Methylformamide market in the near future. Growth in the pharmaceutical sector, especially in China and India, is likely to drive the N-Methylformamide market in the region.
• Demand for N-Methylformamide is projected to remain steady in North America and Europe. The N-Methylformamide market in Latin America and Middle East & Africa is likely to expand at a steady pace during the forecast period.
• The U.S. is expected to constitute major share of the N-Methylformamide market in North America during the forecast period. Growth of the market in the U.S. can be ascribed to the presence of prominent manufacturers in the country.

Key Players in Market

The global N-Methylformamide market was highly fragmented in 2019. Prominent players operating in the global N-Methylformamide market seek to enter into partnerships for the development of innovative products.

Key players operating in the global N-Methylformamide market include:

• Mitsubishi Gas Chemical (MGC)
• Henan Huitong New Energy
• Suqian Xinya Technology Co., Ltd.
• Xinya Technology
• Sincere Chemicals
• Green Chemicals
• Hengxin Chemical

Global N-Methylformamide Market: Research Scope

Global N-Methylformamide Market, by Purity

• ≥99.0%
• ≥99.5%
• Others

Global N-Methylformamide Market, by Application

• Pharmaceuticals
• Spice & Flavor
• Electrolysis & Plating
• Others

Global N-Methylformamide Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa

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