What is Global GLB and NMP Market?
The Global GLB and NMP Market is a vast and complex field that encompasses a wide range of products and services. GLB, or Gamma-Butyrolactone, and NMP, or N-Methyl-2-pyrrolidone, are organic compounds that are used in various industries due to their unique properties. These compounds are primarily used as solvents in different industrial processes. The global market for these compounds is continually growing due to their increasing demand in various sectors. The market's growth is driven by the rising demand for these compounds in the electronics, pharmaceuticals, and chemical industries. The versatility of these compounds makes them suitable for a wide range of applications, contributing to their growing market.
GBL, NMP in the Global GLB and NMP Market:
The Global GLB and NMP Market is not just limited to one or two industries. These compounds find extensive usage in various sectors, including electronics, pharmaceuticals, chemicals, and others. In the electronics industry, these compounds are used as solvents in the production of semiconductors and capacitors. In the pharmaceutical industry, they are used in the production of various drugs and medicines. The chemical industry uses these compounds in the production of polymers, resins, and other chemical products. The other industries where these compounds find usage include paints and coatings, agrochemicals, and personal care products.
Electronics, Pharmaceuticals, Chemical, Others in the Global GLB and NMP Market:
The market outlook for the Global GLB and NMP Market is quite promising. In 2023, the market was valued at US$ 979 million. However, it is expected to almost double by 2030, reaching a value of US$ 1960 million. This growth represents a Compound Annual Growth Rate (CAGR) of 10.3% during the forecast period from 2024 to 2030. The market is dominated by the top three manufacturers, who collectively hold a share of over 50%. In terms of products, NMP is the largest segment, accounting for over 85% of the market.
Global GLB and NMP Market Outlook:
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| Report Metric | Details |
| Report Name | GLB and NMP Market |
| Accounted market size in 2023 | US$ 979 million |
| Forecasted market size in 2030 | US$ 1960 million |
| CAGR | 10.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | BASF, Mitsubishi Chemical, Londellbasell, Ashland, Eastman, Synmiway Chemical, MYI Chemical, Yuneng Chemical, Ganzhou Zhongneng, Guangming Chemicals, Ruian Chemical |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
