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Polyacrylamide Market size is forecast to reach $6.1 billion by 2025, after growing at a CAGR of 6.3% during 2020-2025. Increasing demand for the product across different application industries, including wastewater treatment, oil recovery, paper making, and food and beverage, is expected to drive growth in the industry. The global COVID-19 pandemic has led to a sudden pause in manufacturing activities worldwide, impacting plastics demand as well as their development & processing. The reduction of manufacturing activity of plastic industry tends to constraint the growth of the market.
Polyacrylamide Market Segment Analysis – By Product
Anionic is a dominating segment of polyacrylamide market due to its growing usage in paper manufacturing, wastewater treatment and oil recovery operations. anionic show high polymerization levels and have a high molecular weight. It exhibits flexible properties such as flocculation, thickening, shear, drag-reduction, dispersibility etc. In addition, anionic is cost-effective, which fuels its high usage in the sector in particular. Therefore, it is used primarily in oil recovery; mineral processing, metallurgy, chemicals, paper, cloth, and so on.
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Polyacrylamide Market By Application – By Segment Analysis
Global demand for polyacrylamide is due to an increasing perception of the management of waste water and a rising need to minimize soil erosion. The increase in demand for enhanced oil recovery coupled with rapid urbanization and population growth is expected to fuel the growth of the industry. Polyacrylamides are used in various chemical industries and urban sewage treatment for wastewater treatment, including metallurgy, mineral mining, coal washing, electronics, and the iron and steel industries. In different applications, polyacrylamide acts as an agent, such as drag reduction, oil drilling additive, and enhanced oil recovery (EOR). Polyacrylamides are used in controlling soil erosion to stabilize soil aggregates while flocculating suspended particles. This polymer is used in furrow irrigation, sprinkler irrigation, and rain-fed agriculture.
Polyacrylamide Market Segment Analysis – By Geography
APAC region is projected to dominate the market for Polyacrylamide. China is one of the Asia-Pacific’s main countries, with the rising economy supporting sufficient construction activities. One of China’s most significant environmental problems right now is water pollution. According to National Development and Reform Commission (NDRC) estimates, more than 32 percent of the seven major river systems in China and about 29 percent of the major Chinese basins did not meet the prevailing water quality requirements (grade III and below). This was largely due to the long history of unrestrained emission into numerous water sources of untreated / undertreated manufacturing, agricultural, and domestic wastewater.
Polyacrylamide Market Drivers
Growing demand from End Users
The growing development in wastewater, paper making, and mining industries, tends to increase the growth of polyacrylamide. In U.S, the regulations and amendments on wastewater treatment by the U.S. Environmental Protection Agency (EPA) and Safe Drinking Water Act (SDWA) are expected to propel the demand for water treatment chemicals, positively impacting the industry growth. In addition, demand from the oil and gas industry for the product to enhance oil recovery is expected to increase over the forecast period as the product increases the efficiency of oil recovery. In addition, it is used in drilling muds and additives for fracking fluid. The use of polyacrylamide can change the fluidity of the drill, hold shale debris, lubricate the drill bit and monitor the loss of liquid. The above factors are expected to drive polyacrylamide demand in oil and gas applications.
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Polyacrylamide Market Challenges
Raw material price fluctuation
Prices of polyacrylamide rely directly on the cost of the raw materials, including acrylic acid and acrylonitrile, derived from crude oil. Rising prices of crude oil are likely to increase the prices of raw materials in the industry, contributing to upward trends in polyacrylamide price trends over the next few years. Also, the COVID-19 pandemic, have become the major factor for price fluctuation, the price war between major crude oil producers, specifically Saudi Arabia and Russia, tends to increase the fluctuation of crude oil, which represents the rise of polyacrylamide across the globe. This factor tends to constrain the growth of the market.
Polyacrylamide Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Polyacrylamide market. In 2019, the market of Polyacrylamide has been consolidated by the top five players accounting for xx% of the share. Polyacrylamide Market top 10 companies are SNF, BASF, CNPC, Ashland, Kemira, Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Black Rose Industries Ltd., Shandong Polymer Bio-chemicals Co., Ltd., Xitao Polymer Co., Ltd., Dongying Kechuang Biochemical Industrial Co., Ltd., and Anhui Tianrun, among others.
In 2015, SNF Holding increased its manufacturing capacity with the construction of a new plant in Louisiana to expand the food sector in both the domestic and foreign markets.
The growing demand for flocculent anionic polyacrylamide is also likely to increase demand for polyacrylamide during the forecast era.
Development of bio-based polyacrylamide is likely to act as an opportunity for market growth in future.
Asia-Pacific, owing to the rapidly rising water treatment industry in India and China, dominated the polyacrylamide market.
Related Reports :
A. Water Treatment Chemicals Market
B. Industrial Waste Water Treatment Chemicals (IWTC) Market
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