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

Albany, NY -- (ReleaseWire) -- 05/20/2015 -- 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.