Pyrrolidone Market to Expand at 6.0% CAGR Between 2014 and 2020 Driven by Hydrocarbon Recovery Applications

Albany, NY -- (SBWIRE) -- 10/02/2015 -- 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.