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Polyacrylamide Market - Growth, Trends, and Forecast (2019 - 2024)

Polyacrylamide Market - Growth, Trends, and Forecast (2019 - 2024)

  • July 2019
  • 181 pages
  • ID: 5797249
  • Format: PDF
  • By Mordor Intelligence LLP

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Market Overview
The polyacrylamide market is expected to register a CAGR of 6.3% during the forecast period (2019-2024). One of the major factors driving the market studied is the growing use of polyacrylamide in the oil and gas industry for enhanced oil recovery (EOR). However, stringent regulations for use, due to carcinogenic nature of acrylamide monomer, is likely to restrain the market.

- Growing demand for anionic polyacrylamide as a flocculant is also likely to boost the demand for polyacrylamide during the forecast period.
- Development of bio-based polyacrylamide is likely to act as an opportunity for the market growth in future.
- Asia-Pacific dominated the polyacrylamide market in 2018, owing to the rapidly growing construction industry in India and China.

Key Market Trends
Water Treatment Application is Expected to Dominate the Market

- One of the major applications of polyacrylamide is as flocculants or coagulants for treating municipal and industrial wastewater, as it causes suspended particles to aggregate and to precipitate when added to treat water.
- Anionic polyacrylamide is used extensively in water treatment and sludge de-watering. For industrial sewage treatment, it is widely used in iron and steel plants, wastewater plants, electroplating wastewater plants, metallurgical waste water plants, and coal-washing wastewater plants. Owing to the significantly high flocculation efficiency, anionic polyacrylamide is also widely used in drinking water treatment.
- Rapid industrialization and urbanization in Asia-Pacific has propelled the demand for polyacrylamide, due to rising levels of waste water and pressing need to conserve the depleting natural water resources.
- Additionally, stringent environment regulations imposed by regional regulatory bodies and government to treat industrial waste water is another factor, which may make prominent contribution toward the market during the forecast period.
- Hence, wastewater treatment application is likely to continue dominating the market during the forecast period.

The Asia-Pacific Region is Expected to Dominate the Market

- The Asia-Pacific region accounted for the highest market share in 2018.
- Rapidly growing construction industry, primarily in India and ASEAN countries, is a major factor driving the demand for the Asia-Pacific polyacrylamide market.
- A rapid growth of the oil and gas exploration activities in countries in Asia-Pacific is also increasing the consumption of polyacrylamide.
- Furthermore, the growing water treatment industry in Asia-Pacific is projected to further add to the growing demand for polyacrylamide in the region.
- Hence, owing to the aforementioned reasons, Asia-Pacific is likely to dominate the market during the forecast period.

Competitive Landscape
The polyacrylamide market is moderately consolidated, with the major players accounting for a fair share of the market. Some of the major companies in the market include SNF Group, BASF SE, Kemira, and Solvay, among others.

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