A new report has been published by Transparency Market Research, titled “Pyrrolidone Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 – 2020”.TMR, a market intelligence company based in the U.S., estimates in its report that the global pyrrolidone market will expand at a CAGR of 6.0% between 2014 and 2020 and will stand at US$2.47 billion by 2020.This TMR report states that Pyrrolidone, a hygroscopic liquid, is utilized in dehumidifying liquids. Because of this property, pyrrolidone is broadly used for the extraction of natural gas from the blend of crude oil. In the crude form, natural gas obtained is dehumidified with the assistance of pyrrolidone. Pyrrolidone is usually segregated into four types: 2-Pyrrolidone, N-Methylpyrrolidone, N-Vinylpyrrolidone, and N-Octylpyrrolidone. These are utilized as a part of an extensive variety of applications. 2-Pyrrolidone is utilized as a solvent, in home and personal care applications and pharmaceutical drugs, among others.
N-Methylpyrrolidone is the biggest product segment and represented more than 70% share of the worldwide pyrrolidone market revenue in 2013. N-Methylpyrrolidone is utilized as a part of paints and coatings as well as automobile and plastics industries. N-Vinylpyrrolidone has applications in the food and beverage industry as well as in the manufacture of cosmetics. Likewise, compounds manufactured utilizing pyrrolidone include cosmetics, drugs, pigments, fungicides, pesticides, and herbicides.According to this report, the demand for pyrrolidone has expanded fundamentally because of a growing interest for natural gas in developing as well as developed economies.
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Consequently, desulfurization of gases is seen to be a significant application, trailed by agrochemicals and pharmaceuticals, among others. Pyrrolidone is also utilized as a part of recovery of hydrocarbons in large-scale operations by extractive distillation. Recovery of unadulterated hydrocarbons in petrochemical processing is predicted to drive the worldwide pyrrolidone market during the forecast horizon. Pyrrolidone can also prove hazardous to health – a factor that will restrain the worldwide pyrrolidone market.