New York, USA, Jan. 20, 2023 (GLOBE NEWSWIRE) -- Polyacrylamide Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Polyacrylamide Market Information by Product, Type, Application, And Region - Forecast till 2030”, the market is estimated to grow at a 6.01% CAGR to reach USD 8,599.47 Million by 2030.
Market Synopsis
A synthetic polymer called polyacrylamide is created when acrylamide monomer is polymerized. Due to its gel-like qualities, it is mostly utilized for the flocculation of solids in a liquid in water treatment, paper production, and screen printing. Improved oil recovery and soil conditioning are two additional frequent applications for polyacrylamide and its derivatives. The polymer forms of polyacrylamide include powder, solution, and emulsion. It serves as a chemical transition state in synthesizing N-butoxyacrylamide and N-methyl acrylamide. The exponential population growth has boosted the demand for polyacrylamide as well as the requirement for water treatment. Another important factor driving the development of the global polyacrylamide market is rising mining activity. The flocculating substance polyacrylamide is used to clean wastewater produced during mining activities.
The requirement for polyacrylamide is anticipated to increase due to the mining industry's expansion. To extract minerals from mineral ore, polyacrylamide is frequently employed in mining operations processing minerals. The wastewater from mineral processing created by the mining channels during the mining procedure is also treated as flocculants. The advent of cutting-edge disposal and waste treatment techniques is a major factor favorably affecting the business environment. Accessing enough healthy water has become more difficult due to the ongoing rise of the global population and the faster rate of environmental degradation. The cost of raw materials, such as acrylic acid and acrylonitrile, which are produced from crude oil, directly affects the price of polyacrylamide. Over the next few years, the price of polyacrylamide is projected to increase due to rising raw material costs in the sector due to rising crude oil prices.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 8,599.47 Million |
| CAGR | 6.01% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, Type, Application, And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing awareness regarding wastewater management and growing need to reduce soil erosion. |
| Increase in the demand for enhanced oil recovery. |
Market Competitive Landscape:
The notable contenders in the polyacrylamide market are:
- BASF SE (Germany)
- Xitao Polymer Co., Ltd (China)
- Kemira OYJ (Finland)
- ZL Petrochemical Co., Ltd (US)
- SNF Group (France)
- China National Petroleum Corporation (China)
- The Dow Chemical Company (US)
- PetroChina Company Limited (China)
- Black Rose Industries Ltd (India)
- Anhui Jucheng Fine Chemicals Co., Ltd (China)
- Among others.
Market U.S.P. Covered:
Market Drivers:
Over the next 10 years, product demand will rise due to the rapid construction of water treatment facilities designed to speed up the biological mechanism of purifying water. The polyacrylamide industry will have several prospects due to the rising product usage in water treatment applications across several industrial verticals, comprising chemicals, tanneries, beverages, dyeing, and municipal wastewater treatment. Large amounts of readily available raw materials, inexpensive labor and land, and high consumption will likely induce firms to locate their manufacturing facilities in this area. The proliferation of Chinese manufacturers, who sell their goods at comparatively lower prices, is anticipated to pose the biggest threat to the new producers. Cost competition is, therefore, probably the main factor determining the buyer's choice.
Market Restraints:
The adverse consequences of polyacrylamide are a major market limitation for the global polyacrylamide industry. Because acrylamide is a carcinogen and neurotoxic, using polyacrylamide in agriculture runs the risk of contaminating food.
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COVID 19 Analysis
The worldwide supply chain and the entire value chain, from the sourcing of raw materials to production and distribution, have been impacted by the COVID-19 epidemic. Since many factories already had the necessary raw materials and finished goods, the impact initially did not appear significant. However, as the pandemic in the major economies continued, trade restrictions increased, which negatively affected the market as a whole. To address the issue, many nations adopted strict laws. Furthermore, the key economies-imposed restrictions on their import industry by establishing tough laws for the ports in response to the rapid spread of the coronavirus, particularly in the European zone. Additionally, exporters must pay more in freight costs because the maritime supply chain was under pressure due to increased global demand and a lack of available containers.
Market Segmentation
By application, the market includes water treatment, pulp and paper, mineral processing, and enhanced oil recovery. By product type, the market includes anionic, cationic, and non-ionic.
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Regional Insights
Due to its rapid industrialization and increasing demand for polyacrylamide in water treatment applications, Asia-Pacific has the highest market for the substance. The fact that China has many chemical and pharmaceutical companies will increase demand for chemicals used in water treatment, further expanding the polyacrylamide market. The Asia-Pacific market demand for polyacrylamide is anticipated to be driven by the oil and gas sectors in China, India, and other countries. China was among the biggest consumers of polyacrylamide due to its huge mining and coal-washing operations. The severe constraints placed on the industries' ability to dispose of their wastewater in North America would increase consumer demand for polyacrylamide.
Water treatment activities are anticipated to be driven by stringent regulatory efforts against wastewater disposal, which are projected to be accompanied by growing environmental concerns in the area. This is expected to affect the expansion of the industry positively. Additionally, the creation of polyacrylamide polymers for producing polyacrylamide gel and powder is anticipated to open up new opportunities for the region's bioscience and pharmaceutical industries. The polyacrylamide market in Europe will grow due to significant investments in water purification and recycling technology. The need for water treatment in emerging nations will cause the Latin American polyacrylamide industry to expand. Due to the growing requirement to effectively treat the available water in the Middle East and Africa, the polyacrylamide market will experience growth in these regions. The market will continue to expand as oil and gas applications for polyacrylamide are expanded.
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