2-Pyrrolidone Market By Form (Powder & Liquid), By Grade (Pharma Grade, Technical Grade, & Lab Grade), By Packaging (Drum, Oilcan, Bags, Jars, & Others), By Application (Solvent (Synthetic resin, Agricultural Chemicals, & Printing Inks), Decolorant (Fatty acid, Kerosene, & Rosin), Plasticizers, & Others), By End-Use Industry (Cosmetics, Pharmaceutical, Electronics, Detergents, Chemicals, & Others) - Global Opportunity Analysis & Industry Forecast, 2022-2027

Report Code: CMR 75511 Report Format: PDF + Excel

2-Pyrrolidone Market Overview

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. Also, the rising demand for 2-pyrrolidone as a pharmaceutical derivative in cotinine, doxapram, piracetam, povidone, and ethosuximide is uplifting the global 2-pyrrolidone market growth. Additionally, 2-pyrrolidone is widely used as raw materials in the cosmetics industry. As such the rising growth of the cosmetics sector is estimated to propel the global 2-pyrrolidone industry forward over the forecast period.

COVID – 19 Impact:

The Covid-19 pandemic negatively impacted the growth of the global 2-pyrrolidone industry in the year 2020. Halt in several ongoing construction activities declined the demand for paints and coatings which dipped the demand of the market. For instance, according to the Journal published by the Institute of Physics Organization, the COVID-19 outbreak caused a US$5 billion loss in the Australian construction sector. Also, the shutdown of several other end-use sectors such as the cosmetics, pharmaceutical, electronics, detergents and other industries impacted the demand for 2-pyrrolidone. Thus, this reduced the consumption of 2-pyrrolidone which widely declined the market growth.

Report Coverage

The report "2-Pyrrolidone Market Report – Forecast (2022-2027)" by IndustryARC covers an in-depth analysis of the following segments of the global 2-pyrrolidone industry.

By Form: Powder and Liquid.
By Grade: Pharma Grade, Technical Grade, and Lab Grade.
By Packaging: Drum, Oilcan, Bags, Jars, and Others.
By Application: Solvent (Synthetic resin, Agricultural Chemicals, and Printing Inks), Decolorant (Fatty acid, Kerosene, and Rosin), Plasticizers, and Others.
By End-Use Industry: Cosmetics, Pharmaceutical, Electronics, Detergents, Chemicals, and Others.
By Geography: North America (USA, Canada, and Mexico), Europe (UK, Germany, Italy, France, Spain, Netherlands, Russia, Belgium, and Rest of Europe), Asia Pacific (China, Japan, India, South Korea, Australia and New Zealand, Taiwan, Indonesia, Malaysia, and Rest of Asia Pacific), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and RoW (Middle East and Africa) 

Key Takeaways

  • The APAC region dominates the global 2-pyrrolidone market due to the huge government investments made in the pharmaceutical industries in emerging economies such as China, Japan, India, and South Korea. 
  • Rapidly rising demand for 2-pyrrolidone owing to its high boiling point, chemically and thermally stable, and non-corrosive nature in solvents, plasticizers, and other applications, is estimated to drive the growth of the industry.
  • Furthermore, rising acute health effects will hinder the growth of the global 2-pyrrolidone market in the forecast period.

Figure: Asia-Pacific 2-Pyrrolidone Market Revenue, 2021-2027 (US$ Million)

2-Pyrrolidone Market

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2-Pyrrolidone Market Segment Analysis – By Application

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. It has a high boiling point and is miscible with practically all other organic solvents such as (ethers, alcohols, aromatic hydrocarbons, esters, carbon disulfide, chlorinated hydrocarbons, and others). Additionally, the usage of global 2-pyrrolidone as solvents in synthetic resin, agricultural chemicals, and others is driving the growth of the industry. Synthetic resin is widely used in the production of glues, surface coatings, and synthetic textile fibres. In the upcoming years with the rising growth of the paints & coatings industry, the demand for synthetic resins is set to rise. Thus, which would further drive the growth of the global 2-pyrrolidone industry.

2-Pyrrolidone Market Segment Analysis – By End-Use Industry

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. Also, 2-pyrrolidone is majorly used as a raw material in the cosmetic production. Rising growth and increasing demand for cosmetics is one of the major factor determining the growth of the global 2-pyrrolidone industry. For instance, according to the International Trade Administration, China is estimated to become the largest global market for cosmetic products within the next five years. In recent years, China's cosmetics business has grown steadily, driven by increased demand for premium products and an increase in the number of working women. By 2025, the personal care and cosmetic items in China is predicted to incline by 6.3%.

2-Pyrrolidone Market Segment Analysis – By Geography

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. Currently, rising growth of the chemicals, electronics, cosmetics, sector has uplifted the growth of the 2-pyrrolidone industry. As per the International Trade Administration, in 2021 personal care segment held the largest market segment ($3.2 billion), followed by skin care ($2.1 billion), cosmetics ($1.7 billion), and fragrances ($0.4 billion) in Indonesia. Also, according to Invest India, the domestic electronic output in India has expanded from US$29 billion in 2014-15 to US$67 billion in 2020-21.

2-Pyrrolidone Market Drivers

Increasing demand for 2-pyrrolidone in the pharmaceutical sector.

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. Globally, in the formulation of drugs 2-pyrrolidone is widely adopted. Rising growth of the pharmaceutical industry in emerging economies are driving the global 2-pyrrolidone market. 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. In recent years, an increase in the production and sales of drugs has also increased 2-pyrrolidone consumption in the pharmaceutical sector. For illustration, according to the European Federation of Pharmaceutical Industries and Association, in 2019, Europe accounted for 22.9% of world pharmaceutical sales. Also, 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.

2-Pyrrolidone Market Challenges

Health Effects Associated With 2-pyrrolidone

One of the major challenges that the 2-pyrrolidone market faces is acute health effects. 2-pyrrolidone causes serious eye irritation and damage in some people. This material can even cause skin inflammation. Also, reproductive toxicity is caused due to 2-pyrrolidone. With such growing health effects the demand for 2-pyrrolidone would slightly decline, thus, which is estimated to hinder the growth of the market over the projected period.

2-Pyrrolidone Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the global 2-pyrrolidone market. Global 2-pyrrolidone top 10 companies include:

  1. Mitsubishi Chemical Corporation
  2. BASF SE
  3.  Ashland
  4. Johnson Matthey
  5. Eastman Chemical Company
  6. Abtonsment Chemical
  7. J&K Chemicals
  8. Lyondellbasell
  9.  Prasol Chemicals Pvt. Ltd.
  10. Alliedchem Industry Co., Ltd. and others
     

Relevant Reports:

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Report Code: CMR 0539

Report Code: CMR 54455

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1. 2-Pyrrolidone Market- Market Overview
    1.1 Definitions and Scope
2. 2-Pyrrolidone Market - Executive Summary
    2.1 Key Trends by Form
    2.2 Key Trends by Grade
    2.3 Key Trends by Packaging
    2.4 Key Trends by Application
    2.5 Key Trends by End-Use Industry
    2.6 Key Trends by Geography
3. 2-Pyrrolidone Market – Comparative analysis
    3.1 Market Share Analysis- Major Companies
    3.2 Product Benchmarking- Major Companies
    3.3 Top 5 Financials Analysis
    3.4 Patent Analysis- Major Companies
    3.5 Pricing Analysis (ASPs will be provided)
4. 2-Pyrrolidone Market - Startup companies Scenario Premium Premium
    4.1 Major startup company analysis:
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Product portfolio
        4.1.4 Venture Capital and Funding Scenario
5. 2-Pyrrolidone Market – Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing Business Index
    5.3 Successful Venture Profiles
    5.4 Customer Analysis – Major companies
6. 2-Pyrrolidone Market - Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Porters Five Force Model
        6.3.1  Bargaining Power of Suppliers
        6.3.2  Bargaining Powers of Buyers
        6.3.3  Threat of New Entrants
        6.3.4  Competitive Rivalry
        6.3.5  Threat of Substitutes
7. 2-Pyrrolidone Market – Strategic Analysis
    7.1 Value/Supply Chain Analysis
    7.2 Opportunity Analysis
    7.3 Product/Market Life Cycle
    7.4 Distributor Analysis – Major Companies
8. 2-Pyrrolidone Market – By Form (Market Size -US$ Million/Billion)
    8.1 Powder
    8.2 Liquid
9. 2-Pyrrolidone Market – By Grade (Market Size -US$ Million/Billion)
    9.1 Pharma Grade
    9.2 Technical Grade
    9.3Lab Grade
10. 2-Pyrrolidone Market – By Packaging (Market Size -US$ Million/Billion)
    10.1 Drum
    10.2 Oilcan
    10.3 Bags
    10.4 Jars
    10.5 Others
11. 2-Pyrrolidone Market – By Application (Market Size -US$ Million/Billion)
    11.1 Solvent
        11.1.1 Synthetic resin
        11.1.2 Agricultural Chemicals
        11.1.3 Printing Inks
    11.2 Decolorant
        11.2.1 Fatty acid
        11.2.2 Kerosene
        11.2.3 Rosin
    11.3 Plasticizers
    11.4 Others
12. 2-Pyrrolidone Market – By End-Use Industry (Market Size -US$ Million/Billion)
    12.1 Cosmetics
    12.2 Pharmaceutical
    12.3 Electronics
    12.4 Detergents
    12.5 Chemicals
    12.6 Others
13. 2-Pyrrolidone Market - By Geography (Market Size -US$ Million/Billion)
    13.1 North America
        13.1.1 USA
        13.1.2 Canada
        13.1.3 Mexico
    13.2 Europe
        13.2.1 UK
        13.2.2 Germany
        13.2.3 France
        13.2.4 Italy
        13.2.5 Netherlands
        13.2.6 Spain
        13.2.7 Russia
        13.2.8 Belgium
        13.2.9 Rest of Europe
    13.3 Asia-Pacific
        13.3.1 China
        13.3.2 Japan
        13.3.3 India
        13.3.4 South Korea
        13.3.5 Australia and New Zealand
        13.3.6 Indonesia
        13.3.7 Taiwan
        13.3.8 Malaysia
        13.3.9 Rest of APAC
    13.4 South America
        13.4.1 Brazil
        13.4.2 Argentina
        13.4.3 Colombia
        13.4.4 Chile
        13.4.5 Rest of South America
    13.5 Rest of the World
        13.5.1 Middle East
            13.5.1.1 Saudi Arabia
            13.5.1.2 UAE
            13.5.1.3 Israel
            13.5.1.4 Rest of the Middle East
        13.5.2 Africa
            13.5.2.1 South Africa
            13.5.2.2 Nigeria
            13.5.2.3 Rest of Africa
14. 2-Pyrrolidone Market – Entropy
    14.1 New Product Launches
    14.2 M&As, Collaborations, JVs and Partnerships
15. 2-Pyrrolidone Market – Industry/Segment Competition Landscape Premium
    15.1Company Benchmarking Matrix – Major Companies
    15.2 Market Share at Global Level – Major companies
    15.3 Market Share by Key Region – Major companies
    15.4 Market Share by Key Country – Major companies
    15.5 Market Share by Key Application – Major companies
    15.6 Market Share by Key Product Type/Product category – Major companies
16. 2-Pyrrolidone Market – Key Company List by Country Premium Premium
17. 2-Pyrrolidone Market Company Analysis - Business Overview, Product Portfolio, Financials, and Developments
    17.1 Company 1
    17.2 Company 2
    17.3 Company 3
    17.4 Company 4
    17.5 Company 5
    17.6 Company 6
    17.7 Company 7
    17.8 Company 8
    17.9 Company 9
    17.10 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"

LIST OF TABLES

1.Global 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
2.Global 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global 2-Pyrrolidone Market, by Type Market 2019-2024 (Volume/Units)
4.Global 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
6.North America 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
8.South America 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
10.Europe 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
12.APAC 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA 2-Pyrrolidone Market, by Type Market 2019-2024 ($M)
14.MENA 2-Pyrrolidone Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)

LIST OF FIGURES

1.US Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
2.Canada Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
6.Peru Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
8.Chile Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
10.UK Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
11.Germany Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
12.France Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
13.Italy Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
14.Spain Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
16.China Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
17.India Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
18.Japan Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global 2-Pyrrolidone Industry Market Revenue, 2019-2024 ($M)
21.North America Global 2-Pyrrolidone Industry By Application
22.South America Global 2-Pyrrolidone Industry By Application
23.Europe Global 2-Pyrrolidone Industry By Application
24.APAC Global 2-Pyrrolidone Industry By Application
25.MENA Global 2-Pyrrolidone Industry By Application