Wednesday , December 6 2023

Polyacrylamide Market Growth Rate, Business overview, And Application Forecast To 2028

Market Overview: The global market for polyacrylamide was notably large in 2020 and is anticipated to maintain a consistently increasing revenue Compound Annual Growth Rate (CAGR) from 2021 to 2028. Key drivers fostering the growth of market revenue include the escalating demand for the product in diverse application sectors such as oil recovery, wastewater treatment, food and beverage, and paper manufacturing.

Polyacrylamide (PAM) is a polymer formed by the polymerization of acrylamide subunits. Due to its gel-like characteristics, it is commonly employed to flocculate particles in liquids. Its applications extend to cosmetics, lotions, and other personal care items where it serves as a binder. In various industries, including paper production and water treatment, polyacrylamide plays a crucial role. Its biocompatibility and resistance characteristics make it suitable for drug and biomedicine delivery. Polyacrylamides, whether in a single-linear or cross-linked chain form, exhibit water-absorbing properties. In the cross-linked state, the monomer is simplified, enhancing water absorption and aiding in soil structure stabilization. This, in turn, reduces water consumption and soil erosion, making the soil more conducive to agriculture and preventing damage to crops in the event of heavy rains.

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Major Growth Drivers for the Global Polyacrylamide Market: The increasing awareness of wastewater management and the imperative need to reduce soil erosion are significant factors propelling the global polyacrylamide market. The market is poised for growth due to heightened demand for oil recovery, escalating urbanization, and population growth. Polyacrylamides find application in treating wastewater from various industries, including mineral processing, metallurgy, coal cleaning, steel and iron production, and electronics. Additionally, polyacrylamide is utilized in Enhanced Oil Recovery (EOR), oil drilling additives, and drag reduction. Its role in stabilizing soil aggregates and reducing soil erosion is crucial for irrigation methods like sprinkler irrigation, rain-fed agriculture, and furrow irrigation.

Factors Constraining Growth of the Global Polyacrylamide Market: Polyacrylamide prices are directly influenced by the costs of raw ingredients derived from crude oil, such as acrylonitrile and acrylic acid. The anticipated increase in crude oil prices is expected to elevate raw material costs, subsequently raising polyacrylamide prices in the coming years. The COVID-19 pandemic has added to the price volatility, with bidding wars among major crude oil-producing nations, particularly Russia and Saudi Arabia. These factors are likely to intensify crude oil price fluctuations, posing a challenge to the expansion of the polyacrylamide industry.

Opportunities for Players in the Global Polyacrylamide Market: The exploration of shale gas presents opportunities for global growth in the polyacrylamide industry. Polyacrylamide is widely used in enhancing oil recovery in the oil and gas sector, particularly in polymer flooding. The expansion of wet shale gas production is expected to drive market growth. Moreover, polyacrylamide’s ability to reduce friction and enhance oil recovery makes it increasingly popular in drilling operations, particularly with the availability of shale oil and gas deposits in the United States.

Global Polyacrylamide Market Revenue Led by Product Segment: The anionic segment is projected to contribute the highest revenue share over the forecast period. The rising demand for recycling wastewater and sewage treatment in rapidly expanding metropolitan areas worldwide is expected to drive the demand for anionic polyacrylamide.

Leading Application Segment in the Global Polyacrylamide Market: In terms of revenue generation over the forecast period, the water treatment segment is expected to dominate all other segments. Increasing awareness of wastewater management and the use of polyacrylamide as a flocculant and coagulant in water treatment operations are key factors contributing to the industry’s growth.

North America Holds the Largest Revenue Share in the Global Polyacrylamide Market: In 2020, North America emerged as the largest market for polyacrylamide, accounting for the highest revenue share. The region’s water treatment operations are expected to be propelled by stringent regulatory measures governing wastewater disposal, along with growing environmental concerns. Additionally, the creation of polyacrylamide polymers for pharmaceutical and bioscience industries is expected to open new opportunities in the region.

European Market Growth and Contributions: The polyacrylamide market in Europe is projected to experience robust growth in terms of revenue, with Germany playing a significant role as Europe’s leading supplier of novel water technologies. Increasing investments in water recycling and purification technologies are expected to drive demand for polyacrylamide in water treatment operations.

Asia Pacific Leads in Revenue Compound Annual Growth Rate (CAGR): The Asia Pacific polyacrylamide market is expected to register the fastest CAGR over the forecast period, with China contributing significantly to the industry. The region’s rapid development in the chemical and pharmaceutical manufacturing sectors has led to substantial wastewater production, driving demand for polyacrylamide in water treatment. Additionally, the Asia Pacific region is a major hub for pulp and paper production, further fueling the growth of the polyacrylamide market.

Major Companies Profiled in the Report:

  • SNF
  • Ashland
  • BASF
  • Kemira
  • Anhui Tianrun
  • Shandong Polymer Bio-chemicals

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