Polyacrylamide Market Can be Worth $ 4.7 BN by 2024 Due to Growing Demand

Pune, India, September 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Polyacrylamide Market.

Also known as polymerized acrylamide, polyacrylamide (PAM) is formed by the synthesis of acrylamide subunits. A new report on the global polyacrylamide market, published by Market Research Future (MRFR), studies that this market can eye enlargement at 6.53% CAGR between 2022 and 2030. By monetary value, the market can be worth USD 8.59 billion by the end of the forecast period.

The most significant market driver for the global polyacrylamide market growth is growing demand. The demand is increasing due to the increasing awareness regarding wastewater management and growing need to reduce soil erosion. Polyacrylamides are used for treating wastewater of numerous chemical industries and municipal sewage treatment, including coal washing, the electronic, iron & steel, metallurgy, and mineral processing industries. Polyacrylamide also acts as an agent in various applications that include drag reduction, enhanced oil recovery (EOR), and oil drilling additive. Due to its higher viscosity, the hydrolyzed polyacrylamide offers an excellent oil recovery rate that is far better compared to unhydrolyzed polyacrylamide. Other market drivers for the global polyacrylamide market growth include rapid urbanization, growing population, and subsequently increasing demand for enhanced oil recovery. However, the change in the price of polyacrylamides of raw materials can hinder the market growth.

Market Segmentation

The global polyacrylamide market segmentation encompasses application and product type. MRFR’s research on the market highlights many facets of the market in-depth.

The application-based segmentation of this market is covering enhanced oil recovery, mineral processing, pulp & paper, water treatment, and others. The water treatment segment holds the largest market share of 37%, followed by enhanced oil recovery, mineral processing, and pulp & paper. The growing demand for polyacrylamide in the oil & gas industry can also boost the market as PAM is being used for enhanced oil recovery, mud drilling activities, and solid & liquid separation. In mineral processing, polyacrylamide is used for cleaning fine coal slurry into vessels, and for enhancing the solid as well as the liquid separation of the tailings. In the pulp & paper industry, polyacrylamide can be used as a retention agent and a dry strength agent that filters aid. Not only this quality of polyacrylamide helps to improve the paper quality, it also enhances the physical strength of paper while reducing fiber loss.   

Regarding the product type, the market has been segmented into anionic products, cationic products, and non-ionic products. The anionic segment has 47% of the global market share the status quo remains the same during the forecast period. Anionic polyacrylamide can be used both as a food grade and an industrial-grade. Being food-grade, anionic polyacrylamide flocculants are used in ethanol plants, meat processing, sugar mills, and wineries. However, the high dehydration rate of cationic polyacrylamide allows its use in water treatment along with inorganic coagulants in alcohol, beverage, monosodium glutamate, and sugar factories. It is also used in dyeing, tanneries, and other fields. Cationic polyacrylamide is also used as an additive in the paper & pulp industry.

Regional Segmentation

A geographical outlining of the global polyacrylamide market covers Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa (MEA).

The Asia Pacific region is holding the largest market share due to the large presence of chemical and pharmaceutical industries that produce a large volume of wastewater for whose treatment, polyacrylamide is required. The presence of major paper & pulp manufacturers in the region also boosts the market growth. An examination of the remaining countries in the Asia Pacific region featured in this report sums up the additional market revenue from some other countries. 

North America can emerge as the fastest-growing market during the forecast period due to the increasing number of water treatment plants, strict regulations regarding wastewater treatment, and the growth of the mining and papermaking industries. USA and Canada generate the maximum market revenue in this region.

During the forecast period, the market in Europe can witness moderate growth. Germany can experience the highest growth at 4.6% CAGR due to investments in water purification and recycling processes. Other country-specific markets in this region are Germany, France, Italy, Poland, Russia, Spain, and the UK. Research on the remaining countries in Europe featured in this report estimate the strong addition to market revenue from various other countries in this region.

In Latin America, the market is decent due to stable economies. However, the market size is small as economies are smaller than North American economies. The country-specific markets with the maximum revenue in this region are Argentina, Brazil, and Mexico. An assessment of the remaining countries in Latin America listed in this report anticipates a decent contribution to market revenue from many other countries.

During the forecast period, the market in the MEA region is expected to grow significantly due to the large presence of major oil & gas producers and the increasing application of polyacrylamide as an oil recovery agent. Countries impacting the market are Bahrain, Kuwait, Israel, North Africa, Oman, Qatar, Saudi Arabia, Turkey, and the UAE. An assessment of the remaining countries in the MEA region featured in this report anticipates a decent contribution to market revenue from some other countries.

Key Players

Latest Industry News

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  SNF Group is set to invest USD 1.2 Bn to increase the production of polyacrylamide in three years. 21 AUG 2019 Access Full Report Details - Polyacrylamide Market Size