Lithium battery industry has broad prospects

In recent years, driven by the electric vehicle market, the lithium battery industry has developed steadily. The demand for N-methylpyrrolidone (NMP), which is mainly used in the field of lithium batteries, has increased significantly, and prices have risen rapidly. Due to the promising future of the lithium battery industry, the N-methyl-2-pyrrolidone market is improving in the next few years.
At present, the domestic production capacity is about 300,000 tons/year. Under the stimulation of demand, many large projects have been put into construction in recent years, reaching a new height in scale. If the capacity under construction is all successfully put into operation, by the end of 2018, China's NMP production capacity will increase by 130%.

China's NMP still has room for development in the high-end field. It can be seen from the import and export data in recent years that the number of imports is still large and increasing year by year. In 2017, China imported 0.88 million tons of NMP, an increase of 41.93%. The shortage of high-end products is still a short-term development of China's NMP industry.