The Global GBL and NMP Market was valued at USD 4,456 Million in 2024 and is projected to reach USD 18,050 Million by 2032, growing at a Compound Annual Growth Rate (CAGR) of 22.6% during the forecast period (2025–2032). This explosive growth is being driven by the unprecedented demand for lithium-ion batteries, expansion in high-performance polymers, and increasing adoption across pharmaceutical and electronics manufacturing.

As the global economy pivots toward electric mobility and sustainable technologies, the spotlight is on the key chemical producers who are driving innovation, capacity expansion, and supply chain resilience. In this blog, we profile the Top 10 Companies in the GBL and NMP Industry—a mix of global chemical giants, specialized manufacturers, and regional leaders shaping the future of these critical solvents.

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🔟 1. BASF SE

Headquarters: Ludwigshafen, Germany
Key Offering: High-Purity NMP, GBL, and Custom Solvent Blends

BASF stands as the global leader in the GBL and NMP market, leveraging its vast chemical manufacturing expertise and integrated supply chain. The company’s NMP is critical for lithium-ion battery electrode production, serving major battery manufacturers worldwide. BASF’s strategic investments in Asia-Pacific production facilities ensure a steady supply to the heart of the battery industry.

Innovation and Expansion Initiatives:

• Major capacity expansions in China to support EV battery growth

• Development of closed-loop NMP recycling technologies for sustainability

• R&D focus on ultra-high-purity grades for semiconductor applications

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9️⃣ 2. Mitsubishi Chemical Corporation

Headquarters: Tokyo, Japan
Key Offering: NMP, GBL, and Specialty Chemical Intermediates

Mitsubishi Chemical is a dominant force in the Asian GBL and NMP market, with strong vertical integration from raw materials to finished products. The company benefits from its proximity to major battery production hubs in Japan and South Korea, providing technical support and consistent quality to electronics and automotive customers.

Innovation and Expansion Initiatives:

• Strategic partnerships with leading Asian battery cell producers

• Investment in bio-based alternatives and green chemistry processes

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8️⃣ 3. LyondellBasell Industries

Headquarters: Rotterdam, Netherlands
Key Offering: NMP, GBL, and Petrochemical Derivatives

LyondellBasell leverages its global petrochemical infrastructure to produce cost-competitive GBL and NMP for industrial markets. The company’s scale and operational efficiency make it a key supplier for price-sensitive applications while maintaining compliance with international quality standards.

Innovation and Expansion Initiatives:

• Process optimization to reduce production costs and environmental impact

• Expansion of distribution networks in emerging markets

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7️⃣ 4. Ashland Global Holdings

Headquarters: Wilmington, Delaware, USA
Key Offering: Pharmaceutical-Grade GBL, High-Purity NMP

Ashland specializes in high-value applications of GBL and NMP, particularly in pharmaceuticals and specialty chemicals. The company’s focus on purity and consistency has made it a preferred supplier for regulated industries where quality cannot be compromised.

Innovation and Expansion Initiatives:

• Development of custom formulations for pharmaceutical clients

• Expansion of cGMP-compliant production facilities

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6️⃣ 5. Eastman Chemical Company

Headquarters: Kingsport, Tennessee, USA
Key Offering: NMP Solvents, GBL for Polymer Applications

Eastman brings extensive experience in specialty chemicals to the GBL and NMP market, with particular strength in North American and European markets. The company’s technical expertise supports customers in optimizing solvent systems for specific manufacturing processes.

Innovation and Expansion Initiatives:

• Focus on sustainable production methods and solvent recovery systems

• Development of application-specific solvent blends

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5️⃣ 6. SNET Co., Ltd.

Headquarters: Shanghai, China
Key Offering: Battery-Grade NMP, Industrial GBL

SNET has emerged as a major Chinese producer capitalizing on the domestic battery manufacturing boom. The company’s strategic location near battery mega-factories provides logistical advantages and responsive customer service for the fast-growing EV sector.

Innovation and Expansion Initiatives:

• Rapid capacity expansion to meet local battery demand

• Investment in quality control systems for international market entry

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4️⃣ 7. Synmiway Chemical

Headquarters: Jiangsu, China
Key Offering: NMP for Electronics, GBL for Chemical Synthesis

Synmiway Chemical focuses on the high-growth electronics and renewable energy sectors in China. The company’s competitive pricing and flexible production capabilities make it an attractive supplier for cost-conscious manufacturers in competitive markets.

Innovation and Expansion Initiatives:

• Development of eco-friendly production processes

• Expansion into Southeast Asian markets

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3️⃣ 8. Yuneng Chemical Co., Ltd.

Headquarters: Shandong, China
Key Offering: Industrial NMP, GBL for Various Applications

Yuneng Chemical has established itself as a reliable domestic supplier in China’s massive chemical market. The company’s integrated production facilities and focus on operational efficiency enable competitive pricing while maintaining product quality standards.

Innovation and Expansion Initiatives:

• Capacity increases to serve growing domestic demand

• Quality improvement initiatives for export markets

Download FREE Sample Report: GBL and NMP Market – View in Detailed Research Report

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2️⃣ 9. Ganzhou Zhongneng Industrial Co., Ltd.

Headquarters: Jiangxi, China
Key Offering: NMP Solvents, GBL for Technical Applications

Ganzhou Zhongneng leverages its regional presence in Southern China to serve local industrial markets. The company’s focus on customer service and technical support has built strong relationships with manufacturers in its operating region.

Innovation and Expansion Initiatives:

• Modernization of production facilities for efficiency gains

• Development of regional distribution partnerships

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1️⃣ 10. MYI Chemical

Headquarters: Zhejiang, China
Key Offering: NMP for Battery Production, General Industrial GBL

MYI Chemical completes our list as an emerging player in the Chinese GBL and NMP landscape. The company’s agility and focus on specific market niches allow it to compete effectively despite the presence of larger global players.

Innovation and Expansion Initiatives:

• Targeted investments in battery-grade NMP production

• Exploration of export opportunities in adjacent markets

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🔬 Outlook: The Future of GBL and NMP Is Intertwined with Technological Advancement

The GBL and NMP market is undergoing a fundamental transformation. While traditional applications continue to drive baseline demand, the industry is investing heavily in sustainable production methods, advanced recycling technologies, and high-purity formulations for next-generation applications.

📈 Key Trends Shaping the Market:

• Exponential growth in lithium-ion battery production driving NMP demand

• Increasing regulatory focus on solvent safety and environmental impact

• Technological advancements in NMP recycling and recovery systems

• Expansion into high-value pharmaceutical and electronics applications

Get Full Report Here: GBL and NMP Market – View in Detailed Research Report

The companies listed above are not only supplying critical industrial solvents—they’re enabling the technological transformation of energy storage, advanced materials, and modern manufacturing.