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Acrylamide Market Share

ID: MRFR//8822-HCR | 100 Pages | Author: Priya Nagrale| November 2024

Acrylamide is a chemical compound with formula C3H5NO, which is an organic substance having a wide range of applications such as searching solvents or water due to being soluble in them, original material for the production of polyacrylamides and copolymers with acryl amide, used among others in dyeing industries, paper manufacturing, plastic components fabrication, as well as in water & wastewater treatment. Factors such as demand for Acrylamide during water & wastewater treatment drive global Acrylamide markets. Rapid industrialization across nations has resulted in an increasing need for acrylamides. Within the chemical industry, the Acrylamide market plays a significant role; it remains vibrant through different strategies aimed at capturing market share. Product differentiation is a significant way to ensure that the company stays ahead of its rivals in the field. The company provides various high-quality products, including Acrylamide, which caters to diverse needs industry-wise, thereby not only enabling it to capture a wider customer base but also establishing itself as a reputable source capable of supplying multiple products anywhere within that market segment you may inquire from while selecting brands within a market environment where you operate.
Additional business strategies employed by the Acrylamide market are target marketing and cementing existing customer relationships. The organization remains keen on customized solutions and friendly customer care services in order to ensure loyalty is achieved from the clients that they have. Joint ventures and strategic alliances are part of Acrylamide's market positioning strategy. Partnering with other industry players enables the firm to access new markets, channels of distribution, technologies, et cetera. Furthermore, constant innovation forms a key component of Acrylamide's business model. By investing in research and development activities, the company aims to invent fresh formulations and processes for Acrylamide as well as develop applications that are better than what exists in the industry. This also helps create new products and stay ahead of rivals while meeting changing customer preferences. Innovation also acts as a barrier for potential entrants into this sector, thereby protecting its market share.
Market diversification is another key strategy employed by the Acrylamide market. When companies decide to enter new geographical areas or expand their product portfolio into different industries, they reduce the risk levels associated with a single-segment orientation. In relation to their market share positioning, however, cost leadership is one way that Acrylamide has used. The production process needs to be optimized so that there can be an improvement in operational efficiency, leading to economies of scale. Hence, competitive prices are being offered by manufacturers such as the ones under study here. Market share positioning strategies prioritize environmental sustainability within the Acrylamide marketplace because it now becomes an important factor when making sales decisions. The use of eco-friendly manufacturing techniques, together with maintaining good environmental standards, helps companies to target ethically conscious consumers. Finally, successful marketing and brand promotion are critical to market share positioning in the Acrylamide market.

Covered Aspects:

Report Attribute/Metric	Details
Base Year For Estimation	2023
Forecast Period	2024-2032
Growth Rate	3.49% (2024-2032)

Acrylamide Market Highlights:

Acrylamide Market Trends

Acrylamide Market Analysis

Acrylamide Market Share

Acrylamide Companies

Global Acrylamide Market Overview

Acrylamide Market Size was valued at USD 3.64 Billion in 2023. The Acrylamide industry is projected to grow from USD 3.79 Billion in 2023 to USD 4.98 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.49% during the forecast period (2024 - 2032). Rapid industrial development globally drives the demand for the product, demand from enhanced oil recovery, and increasing demand for convenience foods. These key drivers play a crucial role in enhancing market growth. Acrylamide Market Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acrylamide Market Trends

Increasing demand for convenience foods is driving the market growth

The acrylamide market is witnessing an increasing demand for convenience foods, driving this industry's growth. Convenience foods are pre-packaged and ready-to-eat or ready-to-cook meals that provide quick and easy solutions for busy lifestyles. These foods are popular among consumers due to their convenience, time-saving nature, and ease of preparation. One of the main factors contributing to the demand for convenience foods is the changing consumer behavior and lifestyle patterns. With the fast-paced modern lifestyle, people have limited cooking and food preparation time. Convenience foods offer a convenient alternative, allowing individuals to quickly and easily satisfy their hunger without spending much time preparing meals.

Furthermore, the COVID-19 pandemic has further accelerated the demand for convenience foods. With lockdowns, work-from-home arrangements, and restrictions on dining out, consumers have turned to convenient meal options that can be easily prepared at home. This factor drives the Market CAGR.

Additionally, the demand for acrylamide in India is driven by strong economic growth, population growth, and rapid urbanization, which have led to increased drinking water consumption and wastewater generation. With the expansion of cities and the need for domestic water supply, the volume of wastewater generated in the country is rising. According to estimates by the Central Public Health and Environmental Engineering Organization (CPHEEO), approximately 70-80% of the total water supplied for domestic use in India is generated as wastewater.

Furthermore, the increasing use of acrylamide monomers in various sectors such as gel electrophoresis, ore processing, tertiary oil refining, and dyes and plastics synthesis contributes to the demand for acrylamide. Particularly, using acrylamide monomers in synthesizing polyacrylamide, widely used in wastewater treatment operations, is a key driver for the market. Developed countries, driven by stringent environmental regulations, increasingly adopt polyacrylamide in wastewater treatment processes. This trend is expected to fuel significant growth in the acrylamide market in the coming years.Thus, driving the Acrylamide market revenue.

Acrylamide Market Segment Insights

Acrylamide Application Insights

Based on Application, the Acrylamide market segmentation includes Water & Wastewater Treatment, Enhanced Oil Recovery, Cosmetics, Paper Manufacturing, Chemical Intermediate, and Textiles. The water & wastewater treatment segment dominated the market; water and wastewater treatment is a critical process in various industries, including municipal, industrial, and commercial sectors. Acrylamide is commonly used as a flocculant in water and wastewater treatment processes. It aids in the removal of impurities, suspended particles, and organic matter, thereby improving water quality and making it safe for various applications.Furthermore, the expansion of industries such as oil and gas, chemicals, pharmaceuticals, and food and beverages has contributed to the dominance of the water and wastewater treatment segment.

Figure1: Acrylamide Market, by Application, 2022&2032 (USD billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Acrylamide Regional Insights

The research study offers valuable market insights across regions, including North America, Europe, Asia-Pacific, and the Rest of the World. The North American acrylamide market will dominate, and the expanding industrial sector will boost the market growth in this Region.

The market report analyzes major countries such as the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: GLOBAL ACRYLAMIDE MARKET SHARE BY REGION 2022 (%) Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Acrylamide market accounts for the second-largest market share due tothe Region's transportation, reconstruction, and power generation industry growth. Further, the German Acrylamide market held the largest market share, and the UK Acrylamide market was the fastest-growing market in the European Region.

The Asia-Pacific Acrylamide Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due torapid industrialization; the growth potential is in emerging economies in the Region.Moreover, China’s Acrylamide market held the largest market share, and the Indian Acrylamide market was the fastest-growing market in the Asia-Pacific region.

Acrylamide Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Acrylamide market grow even more. Market participants are also undertaking different strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The acrylamide industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Acrylamide industry to benefit clients and increase the market sector. The Acrylamide industry has offered some of the most significant advantages in recent years. Major players in the Acrylamide market, includingAnhui Jucheng Fine Chemicals Co., LTD, Ashland TIANRUN, SNF, BASF SE, Beijing Hengju Chemical Group, Dia-Nitrix Co., Ltd., Ecolab, Mitsui Chemicals, Inc, NUOER GROUP, Zibo Xinye Chemical Co., Ltd, Zhejiang Xinyong Biochemical Co., Ltd., and others, are attempting to rising market demand by investing in research and development operations.

Kerry is a renowned company with a rich history and extensive resources.Millions of people worldwide enjoy their taste and nutrition solutions in various food and beverage products. Kerry is deeply committed to improving the food and beverage industry for everyone and is driven by their purpose of inspiring food and nourishing life. Recently, Kerry introduced Acryleast Pro, an enhanced version of their widely recognized non-GMO yeast, Acryleast, which effectively reduces acrylamide content in food products.

Renaissance BioScience is an environmental impact company whose bioengineering platform technologies develop innovative, market-ready, functional microorganisms that solve various health and environmental problems. Based in Vancouver, Canada, Renaissance is currently developing technologies for the oral delivery of RNA, targeting human and animal health, biopesticides, and aquaculture solutions. Renaissance BioScience was granted new patents for its non-GMO acrylamide-reducing yeast (ARY) in India, China, Australia, Vietnam, and Russia.

Key CompaniesIn The Acrylamide Market Include

Anhui Jucheng Fine Chemicals Co LTD

Ashland

TIANRUN

BASF SE

Beijing Hengju Chemical Group

Dia-Nitrix Co., Ltd.

Ecolab

Mitsui Chemicals, Inc.

NUOER GROUP

Zibo Xinye Chemical Co., Ltd.

Zhejiang Xinyong Biochemical Co., Ltd.

Acrylamide Industry Developments

November 2022: Kerry released Acryleast Pro, the advanced iteration of the company’s signature acrylamide-reducing non-GMO (non-genetically modified) yeast, Acryleast.

March 2022: Renaissance BioScience was granted new patents for its non-GMO acrylamide-reducing yeast (ARY) in India, China, Australia, Vietnam, and Russia.

Acrylamide Market Segmentation

Acrylamide Application Outlook

Water & Wastewater Treatment

Enhanced Oil Recovery

Cosmetics

Paper Manufacturing,

Chemical Intermediate

Textiles

Acrylamide Regional Outlook

North America

Canada

Europe

Germany

France

U.K.

Italy

Spain

Rest of Europe

Asia-Pacific

China

Japan

India

Australia

South Korea

Australia

Rest of Asia-Pacific

Rest of the World

Middle East

Africa

Latin America

Acrylamide Companies

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