Pyrrolidone (2-Pyrrolidone, N-Methylpyrrolidone, N-Vinylpyrrolidone, N-Octylpyrrolidone) Market
Pyrrolidone (2-Pyrrolidone, N-Methylpyrrolidone, N-Vinylpyrrolidone, N-Octylpyrrolidone) Market for Recovery of Pure Hydrocarbons, Paints and Coatings, Desulfurization of Gases, Plastics, Agrochemicals and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020
Press Release :
Pyrrolidone is a hygroscopic liquid, which is used in dehumidifying liquids. Due to this property, pyrrolidone is widely used to extract natural gas from the mixture of crude oil. Natural gas obtained in the crude form is dehumidified with the help of pyrrolidone. Demand for pyrrolidone has increased significantly due to rising demand for natural gas in developed as well as the developing economies. Therefore, desulfurization of gases is known to be the major application, followed by agrochemicals and pharmaceuticals, among others. Pyrrolidone is also used in large-scale recovery of hydrocarbons by extractive distillation. Recovery of pure hydrocarbons in petrochemical processing is expected to drive the global pyrrolidone market during the forecast period. On the other hand, pyrrolidone can lead to adverse effects on human health. This factor is anticipated to hamper the growth of the global pyrrolidone market. Increasing demand for pyrrolidone in Asia Pacific and rising demand for pyrrolidone in the pharmaceutical industry across the globe is likely to create higher opportunities for the pyrrolidone market in the near future.
Pyrrolidone is commonly divided into four types: 2-Pyrrolidone, N-Methylpyrrolidone, N-Vinylpyrrolidone, N-Octylpyrrolidone. These are used in a wide range of applications. 2-Pyrrolidone is used as solvent, pharmaceutical drug, and in home and personal care applications, among others. N-Methylpyrrolidone is the largest product segment and accounted for over 70% share of the global pyrrolidone market revenue in 2013. N-Methylpyrrolidone is used in paints and coatings, automobile and plastics industries. N-Vinylpyrrolidone has applications in cosmetic and food & beverage industries. N-Vinylpyrrolidone accounted for the second largest share of the global pyrrolidone market in 2013. The segment is anticipated to grow further during the forecast period due to rising demand for N-Vinylpyrrolidone in the pharmaceutical industry. N-Octylpyrrolidone is used in the manufacture of chemicals, pesticides, fertilizers and textiles finishing, among other applications.
Pyrrolidone is majorly used in the petrochemical industry. It is used in desulfurization of gases and removal of pure hydrocarbons in petrochemical processing. Recovery of pure hydrocarbons in petrochemical processing accounted for approximately 25% of the global pyrrolidone market in 2013. Pyrrolidone is also used in the microelectronic fabrication industry and in the manufacture of various compounds. Compounds manufactured using pyrrolidone include cosmetics, drugs, pigments, fungicides, pesticides and herbicides. Pyrrolidone is widely used as a substitute for chlorinated hydrocarbons. Furthermore, pyrrolidone is used in the manufacture of various types of drugs such as Povidone, Piracetam, Cotinine, Doxapram and Ethosuximide. It is also used as an intermediate in the manufacture of polymers such as polyvinylpyrrolidone.
Desulfurization of gases and recovery of pure hydrocarbons in petrochemical processing are the major applications of pyrrolidone. Thus, pyrrolidone is extensively used in North America and Europe. However, the market share of pyrrolidone is likely to decline in these regions due to strict regulations by regulatory bodies. Increasing demand for natural gas is anticipated to boost demand for pyrrolidone in developing regions such as Asia Pacific which accounted for over 40% of the market at the end of 2013. Growth in end-user industries such as paints and coatings, agrochemicals and petrochemicals in Asia Pacific is expected to augment demand for pyrrolidone in the near future. Rest of the World (RoW) includes the Middle East, Africa, Australia and Latin America. A large volume of pyrrolidone is utilized in the petrochemical industry in RoW. This is projected to fuel demand for pyrrolidone in the region during the forecast period.
The pyrrolidone market is highly concentrated, with the top five players accounting for more than 55% of the global market in 2013. Key players engaged in the manufacture of pyrrolidone include Ashland Inc, BASF SE, Shandong Qingyun Changxin Chemical Science-Tech Co. Ltd, Mitsubishi Chemical Engineering Corporation, Balaji Amines, Quzhou Jianhua Nanhang Industrial Co., Ltd., NIPPON SHOKUBAI Co. Ltd., and Zhejiang Realsun Chemical Industry Co., Ltd.
Natural gas is a useful fuel as it burns cleanly and efficiently. It is used on a large-scale for domestic purposes. Production of natural gas has increased significantly due to technological advancements in extraction methods. Pyrrolidone is used widely to extract natural gas from crude oil. Demand for pyrrolidone is increasing due to rising demand for natural gas. Thus, higher demand for natural gas is expected to boost the demand for pyrrolidone. Increasing demand for pyrrolidone in end-user industries, especially in the production of PVC, is also likely to propel demand for pyrrolidone. Pyrrolidone is widely used as a substitute for hydrocarbons. There are four major types of pyrrolidone: 2-Pyrrolidone, N-Methylpyrrolidone, N-Vinylpyrrolidone and N-Octylpyrrolidone. Industries such as automobiles, paints and coatings, food and plastics employ pyrrolidone on a large scale in a wide range of applications such as solvents, pharmaceutical drugs, and in home and personal care products.
This study analyzes, estimates and forecasts the global pyrrolidone market in terms of demand based on volume (Kilo tons) and revenue (USD million) from 2014 to 2020. The report also analyzes several driving and restraining factors and their impact on the market during the forecast period.
The report provides a detailed view of the pyrrolidone market based on product types and key applications. It segments the market into product types. These include 2-Pyrroliodne, N-Methylpyrrolidone, N-Vinylpyrrolidone and N-Octylpyrrolidone. Key application segments include recovery of pure hydrocarbons in petroleum, paints and coatings, desulfurization of gases, plastics, agrochemicals and others such as manufacture of pharmaceuticals and electronic equipment. Furthermore, the report segments the market based on key geographies such as North America, Europe, Asia Pacific and Rest of the World (RoW). It also provides market volume and revenue for each application and product segment under every regional segment.
Based on the pyrrolidone application segment, the report analyzes the attractiveness of each segment with the help of an attractiveness tool. The study includes value chain analysis, which provides a better understanding of key players in the supply chain (from raw material manufacturers to end-users). Additionally, the study analyzes market competition and industry players using Porter’s five forces analysis.
The report includes an overview of the market share of key companies in the global pyrrolidone market. Key market participants profiled in the study include Ashland Inc, BASF SE, Abtonsmart Chemical Co., Ltd., J&K Chemical Ltd, LyondellBasell Industries, NIPPON SHOKUBAI Co., Ltd., Hefei TNJ Chemical Industry Co., Ltd., and Balaji Amines Ltd. Profiles of key participants comprise parameters such as company overview, product portfolio, financial overview, business strategy and recent developments.
Primary research represents the bulk of our research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
Secondary research sources that are typically referred to include company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases and relevant patent and regulatory databases. Other sources include national government documents, statistical databases, and market reports, news articles, press releases and webcasts specific to the companies operating in the market. Secondary sources referred for pyrrolidone study include ICIS, The REACH, WikiGenes, Plastemart and company presentations.
The report segments the global pyrrolidone market as:
Pyrrolidone Market - Product Segment Analysis
Pyrrolidone Market - Application Analysis
- Recover of pure hydrocarbons in petrochemical processing
- Paints and coatings
- Desulfurization of gases
- Others (Including pharmaceuticals, electronics, etc.)
Pyrrolidone Market - Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)