Global Polyacrylamide Market - Segmented by Product Type, Production Process, Application, End-User Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global polyacrylamide market is expected to register a CAGR of 6.3% during the forecast period, 2018 to 2023. Asia-Pacific held the largest market, accounting of more than 40% of the global market share, followed by North America (mainly the United States) and Europe in 2017.
Growing Demand for Anionic Polyacrylamide as a Flocculent
The polyacrylamide market, based on ionic nature, is divided into anionic, cationic, non-ionic, and others. Anionic polyacrylamide is expected to hold the largest market, with approximately 40% of market share, followed by cationic polyacrylamide in 2017. Anionic polyacrylamide is highly used as a flocculating agent for industrial wastewater treatment and municipal sewage treatment. Furthermore, it is also used in industries, such as mining, paper processing, mineral processing, and metallurgy to improve the separation effect of solid-liquid, decrease the environmental pollution, as well as to reduce production cost. In the mining industry, anionic polyacrylamide is highly used as a flocculent to extract zinc, copper, cobalt, uranium, etc. from mining wastewater. The market for mining wastewater treatment is growing in countries, such as China, India, and Japan, due to the growing government initiatives for environmental protection and water sustainability. This, in turn, is expected to boost the demand for polyacrylamide through the forecast period (2018 - 2023).
Rising Usage of Polyacrylamide in Oil Industry
The growing use of polyacrylamide in the oil industry for enhanced oil recovery is supporting the growth of the market at a significant rate. Polyacrylamide is used in the drilling of mud additives and fracturing fluids in oilfields. Additionally, polyacrylamide is used in tertiary recovery of oilfields in order to extract more crude oil. Numerous oil fields around the world are becoming mature, hence depleting the production obtained from natural drive. This is increasing the need for application of enhanced oil recovery methods for achieving better oil production rates and maintaining the longevity of the well. The market for enhanced oil recovery is expected to increase at a significant rate in countries such as the United States, China, and Saudi Arabia. The usage of polyacrylamide in the oil industry is expected to boost the growth of the global polyacrylamide market over the forecast period. Polyacrylamide is extensively used in enhanced oil recovery, which is expected to drive the market for polyacrylamide in coming years.
Asia-Pacific to Dominate the Market Growth
Asia-Pacific has the largest market for polyacrylamide, accounting for more than 40% of the global market share in 2017. Rapidly growing construction industry primarily, in China and India, is a major factor driving the demand for the Asia-Pacific polyacrylamide market. A rapid growth of the oil & gas exploration activities in countries in Asia-Pacific is also increasing the consumption of polyacrylamide for various applications. Furthermore, Asia-Pacific is the largest market for the water treatment industry, and polyacrylamide is extensively used in the wastewater treatment industry. Mining wastewater treatment is a major concern in the region in recent years, and polyacrylamides are highly used to extract metals from mining wastewater. These factors are likely to increase the demand for the polyacrylamide market through to forecast period.
Notable Developments in the Market
Oct 2017: BASF launched its enzyme-based production plant with the capacity of 50,000 tons of bio-catalyzed acrylamide per year in China to strengthen its production of polyacrylamide in the Asia-Pacific region.
Apr 2016: BASF launched its production plant of polyacrylamide in Bradford to strengthen polyacrylamides production in the United Kingdom.
Major Players: SNF Floerger, CNPC, BASF and Beijing Hengju Oilfield Chemical Agent Co. Ltd.
Why Purchase Our Global Polyacrylamide Market Report?
The report offers the market definition and identification of factors instrumental in changing the market scenario and prospective opportunities
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which product type and application type is expected to dominate the market?
Which regions/countries are expected to witness fastest growth during the forecast period?
Identify the latest developments, market shares and strategies employed by the major market players
Customization of the Report
This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook