The global polyacrylamide market is expected to witness a revolutionary growth in the coming as it is extensively being used for papermaking and treating waste water. According to the report published by QY Research, the global market for polyacrylamide is expected to reach US$5,333.9 mn by the end of 2025 from US$3,698.4 mn in 2018. During the forecast period, the market is estimated to exhibit a CAGR of 6.29%.
Global Polyacrylamide Market: Drivers and Restraints
Polyacrylamide is widely used for treating wastewater as a coagulant and flocculant. The increasing awareness about depleting groundwater reserves is projected to up the demand for polyacrylamide in the near future. In addition, the rising concerns about letting out untreated industrial wastewater into natural water sources is also projected bode well for the global market. Analysts have also identified oil industry as the key end-use industry for polyacrylamide. It ensures enhanced oil recovery and is thus extensively used for drilling mud additives and fracturing fluids in oilfields. Furthermore, usage of polyacrylamide in production of pulp and paper is also expected to drive the market.
On the other hand, the rising health concerns about polyacrylamide are expected to have a negative impact on the overall market. Volatility of raw materials is also projected to hamper bulk production of this polymer. However, development of bio-based acrylamide, which is an essential component of polyacrylamide, is expected to open up several growth opportunities.
Global Polyacrylamide Market: Forecast by Application
On the basis of application, the market is segmented into water treatment, paper and pulp, oil and gas extraction, mining, paints and coating, and agriculture. Out of these, the water treatment segment is expected to generate highest revenue for the global polyacrylamide market as it accounted for a consumption share of over 39.89% in 2018. Meanwhile, the paper and pulp segment is likely to surge at a CAGR of 11.03% over the forecast period.
Global Polyacrylamide Market: Forecast by Product
On the basis of product, the global polyacrylamide market is segmented into non-ionic polyacrylamide (PAMN), anionic polyacrylamide (APAM), and cationic polyacrylamide (CPAM). The report anticipates that the non-ionic polyacrylamide (PAMN) segment will dominate the global market as it is poised to reach a valuation of US$515.0 mn between 2018 and 2025.
Global Polyacrylamide Market: Forecast by Region
In terms of geography, the global market for polyacrylamide is segmented into North America, China, Europe, Japan, Southeast Asia, India, and Latin America. China dominates the market in terms of value as it earned US$1349.91 mn in 2018 and is expected to expand at a CAGR of 6.62% over the forecast period. The report predicts that the North America market will expand at a robust rate of 5.02% in terms of revenue as oil and gas exploration activities continue to be in upswing in the region.
Global Polyacrylamide Market: Key Players
SNF Group, PetroChina Daqing, Kemira, BASF, Shandong Polymer, Bejing Hengju, Anhui Tianrun, ASHLAND, Zhengzhou Zhengli, NALCO, Anhui Jucheng, and Dia-Nitrix are the key vendors included in this report. Amidst growing concerns about health hazards associated with acrylamide, which is used for making polyacrylamide, companies such as BASF are focussing on enzyme-based process. The biocatalytic process reduces waste than conventional copper catalysis method. It also ensures energy savings as the process is conducted at room temperature. Thus, greener initiatives are likely to help companies stay ahead of competition in the near future.
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