The global polyacrylamide
market is expected to reach USD 8.61 billion by 2024, according to a new report
by Grand View Research, Inc. Increasing demand for the product in water
treatment application is expected to be a key factor driving the industry growth.
Increasing population and uncertain rainfall patterns in Asia Pacific is
expected to drive demand for water treatment chemicals, which is likely to open
new avenues for the industry over the next eight years.
Growing application scope of
the product in oil & gas industry to enhance the oil recovery is expected
to propel demand over the projected period. Polyacrylamide is used as a
reinforcing agent in papermaking industry which works as both, dry
strengthening agent and wet strengthening agent. In addition, rising demand for
the product in the cosmetics industry as stabilizers, foam builders, binders,
film formers, antistatic agents and hair fixatives is likely to propel demand.
Polyacrylamide market is
characterized by backward integration by polyacrylamide manufacturers to
maximize profit margins. The manufacturers are likely to face challenges owing
to the environmental issues related to the product and high raw materials
prices. The productis highly volatile in nature, which is a key concern for manufacturers,
which is expected to lower the production volumes. However, increasing end-use
demand from mining and paper making industry is expected to drive demand for
the product over the projected period.
In depth research report on Polyacrylamide Market
Further key findings from the report suggest:
•
Anionic polyacrylamide polymers
are likely to witness the fastest growth of CAGR of over 7.9% from 2016 to 2024
owing to their wide application scope in industrial waste water treatment, coal
washing, and mining industries. Furthermore, superior properties of anionic
polyacrylamide which include adsorption mechanism of the molecules on the
Nano-zirconia surface and high compatibility are expected to offer a
competitive edge for the compound over its counterparts.
•
Europe market was valued over
USD 650 million in 2015 and is likely to witness significant growth owing to
the upcoming research analysis and the technological innovations on hydrogels
which have become very popular in the field of medical sciences.
•
Water treatment was the largest
application for polyacrylamide and is expected to grow at a CAGR of over 7.8%
from 2016 to 2024. Growing demand for waste water treatment in various end-use
industries including the textile, paper & pulp, dairy, metal cutting and
the chemical is expected to drive demand over the projected period.
•
Companies are focused on
increasing their footprint within the industry through constant product
innovation. The technological advancements in the product field such as the
production of polyacrylamide gel and powders from the aqueous solution are
expected to open new avenues in the field of medical sciences.
•
Key participants include SNF
Group (France), Kemira (Finland), Ashland Inc. (U.S.), The Dow Chemical Company
(U.S.), BASF SE (Germany), Beijing Heng- Chemical Group Co., Ltd., Shandong
Zibo East Polymer Co., Ltd., Shandong Shuiheng Chemical Co., Ltd. and together
accounting for over 50.0% of the global market share in 2015.
Grand View Research has
segmented the global polyacrylamide market on the basis of product, application
and region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
•
Anionic
•
Cationic
•
Non-ionic
Application Outlook (Volume, Kilo Tons; Revenue, USD
Million, 2013 - 2024)
•
Water Treatment
•
Oil & Gas
•
Paper Making
•
Others
Regional Outlook (Volume, Kilo Tons; Revenue, USD Million,
2013 - 2024)
•
North America
o
U.S.
•
Europe
o
Germany
o
UK
•
Asia Pacific
o
China
o
Japan
o
India
•
Latin America
o
Brazil
•
Middle East & Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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