Polyacrylamide Market Global Industry Analysis Forecast 2015 - 2023

The growing pressure on industries and municipalities across the globe to treat wastewater has increased the usage of polyacrylamide in recent years. Known to act as an excellent coagulant and flocculent, polyacrylamide is thus used for separating suspended particles from waste or polluted water. As water resources deplete and the world population battles the crisis of water scarcity, the demand for polyacrylamide is anticipated to rise at an unprecedented pace. Furthermore, the strict regulatory framework is also compelling industries to treat water before it is let out to prevent a permanent hazard to the environment or human life.

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A research report published by Transparency Market Research states that the opportunity in the global polyacrylamide market was worth US$4.09 bn in 2014 and is expected to rise to US$6.68 bn by 2023. Between the forecast period of 2015 and 2023, the global market is estimated to progress at a CAGR of 5.6%. Besides wastewater treatment, the usage of polyacrylamide in drilling activities in the oil and gas sector are likely to drive market growth. This water-soluble polymer is largely used by the oil and gas sector to reduce friction and improve oil recovery. In the coming years, the exploration and production of shale gas is anticipated to drive the global polyacrylamide market. However, the varying guidelines pertaining to the concentration levels of polyacrylamide in water are hampering the market from attaining the desired growth.
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Anionic Polyacrylamide Becomes Leading Product

The most widely used product in the polyacrylamide market is anionic polyacrylamide. It held a share of 46.4% in the global market due to its popular usage as a soil conditioner. Several building and construction players and farmers are using anionic polyacrylamide to prevent soil erosion that can be achieved with enhancing the retention of suspended sediments. Furthermore, the growing usage of anionic polyacrylamide in process water recycling, sugar juice clarification, fermentation byproduct recovery, and water clarification are going to boost its sale and share in the foreseeable future.

Emerging Economies of Asia Pacific will Boost Sale of Polyacrylamide

Geographically, North America held a dominant share in the polyacrylamide market in 2014, accounting for 18.2%. Despite the lead shown by North America, the consumption of polyacrylamide in terms of volume in Europe and Asia was 55% collectively in 2014. In the coming years, Asia Pacific is expected to surpass this share due to a soaring demand for polyacrylamide in the emerging economies of China and India. The growing awareness about waste water treatment will be the driving force behind the emergence of polyacrylamide market in Asia Pacific.

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Some of the important players operating in the polyacrylamide market are BASF SE, SNF, PetroChina Company Limited, and Kemira. The competitive landscape in the overall market indicates that companies are trying to expand their product portfolio with mergers and acquisitions. In order to deal with fluctuating raw material prices, several players are also investing in backward integration plans. In the coming years, companies must focus on expanding their production capacities to increase their production and garner bigger market shares.

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This release was published on openPR.