Global 2-Pyrrolidone Market size is forecast to reach US$532.7 million by 2027, after growing at a CAGR of 3.8% during 2022-2027. Increasing usage of 2-pyrrolidone as a precursor for N-vinylpyrrolidone synthesis, a solvent for animal injection, an optical co-solvent in the formulation of water-based inks, a process solvent for membrane filters, and a copolymer for floor polishes, is driving the growth of the market. According to the European Federation of Pharmaceutical Industries and Association, in 2019, Europe accounted for 22.9% of world pharmaceutical sales. This represents the Global 2-Pyrrolidone Industry Outlook. The 2-Pyrrolidone Market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Competitive Landscape :
The top 5 players in the 2-Pyrrolidone Industry are –
1. Abtonsment Chemical
2. J&K Chemicals
3. Lyondellbasell
4. Prasol Chemicals Pvt. Ltd.
5. Alliedchem Industry Co., Ltd.
Interested in knowing more relevant information? Click here :
https://www.industryarc.com/pdfdownload.php?id=511434
Segmental Analysis :
1. Solvents held the largest share in the global 2-pyrrolidone market and is expected to continue its dominance over the period 2022-2027. Owing to the alluring characteristics, 2-pyrrolidone is the widely used solvent.
2. The cosmetics sector dominated the global 2-pyrrolidone market with 23.6% in 2021 and is projected to grow at a CAGR of 4.3% during 2022-2027. The cosmetics industry is the largest consumer of 2-pyrrolidone, which is used as solvents in the skin care products.
3. The Asia-Pacific region dominated the global 2-pyrrolidone market with a share of 35% in terms of value in the year 2021. 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.
|
Report Coverage |
|
|
Report Attributes |
Details |
|
By Form |
Powder and Liquid.
|
|
By Grade |
Pharma Grade, Technical Grade, and Lab Grade.
|
|
By Application |
Solvent (Synthetic resin, Agricultural Chemicals, and Printing Inks), Decolorant (Fatty acid, Kerosene, and Rosin), Plasticizers
|
|
By Geography |
North America, Europe, Asia-Pacific, South America and Rest of World
|
Get more detailed information about these segments in the report. Buy it here :
https://www.industryarc.com/reports/request-quote?id=511434
Market Drivers and Challenges :
1. Global 2-pyrrolidone is used as a raw material in the pharmaceutical industry. 2-pyrrolidone derivatives, such as cotinine, doxapram, povidone, and ethosuximide, and racetams, are used in a range of pharmaceutical medications.
2. For instance, as per Invest India, the pharmaceutical business in India inclined at a CAGR of 22.4% between 2015 and 2020 to reach US$ 55 billion. India’s pharmaceutical exports totaled US$ 17.27 billion in fiscal year 2018, which increased to US$ 10.80 billion in fiscal year 2019.
3. According to the International Trade Administration, in Japan the local production for pharmaceuticals increased from USD 62,570 thousands in 2018 to USD 87,027 thousands in 2019.
Why IndustryARC?
IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. Get detailed report on preferred market as per your specific requirements and our research experts would customize the report for you.
Email : venkat@industryarc.com
USA : (+1) 614-588-8538, (+1) 815-656-4596
Similar Reports :
A. N-Methyl-2-Pyrrolidone Market
https://www.industryarc.com/Report/16180/n-mmethyl-2-pyrrolidone-market.html
B. N-Ethyl-2-Pyrrolidone Market
https://www.industryarc.com/Report/16175/n-ethyl-2-pyrrolidone-market.html
Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/Research/Global-2-Pyrrolidone-Industry-Market-Research-511434