ALBANY, N.Y., Nov. 9, 2020 /PRNewswire/ -- The booming oil sector may serve as a key to unlock humungous growth for the polyacrylamide market during the forecast period of 2019-2027. Polyacrylamide is a synthetic resin made by polymerizing acrylamide. It is prominently used as a coagulant, filtration aid, and flocculants in a wide range of applications that are determined by its physical form and its ionic type.
The large-scale utilization of polyacrylamide in secondary oil recovery as a thickening agent may invite good growth prospects for the polyacrylamide market during the assessment period of 2019-2027. Polyacrylamide is also utilized for separating macromolecules of different molecular weights. Extensive usage across several applications may bring overwhelming growth opportunities for the polyacrylamide market.
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The rise in demand for energy due to the booming population is leading to an increase in exploration activities across a plethora of regions. This, in turn, is influencing the growth of the polyacrylamide market. Many other factors including the aforementioned factor have been studied by the researchers at Transparency Market Research (TMR).
After conducting a scrutinized analysis of every growth-related aspect, the researchers at TMR have concluded that the global polyacrylamide market may expand at a CAGR of 6.2 percent during the assessment period of 2019-2027.
The consistent depletion of freshwater reservoirs, coupled with the increasing pollution through releasing sewage water in these reservoirs is prompting the governments of various countries to increase their focus on wastewater treatment. Hence, this aspect may influence the growth of the polyacrylamide market to a great extent. In addition, the increasing population and industrialization may invite good growth prospects.
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Polyacrylamide Market: Major Findings
- On the basis of application, the oil and gas extraction segment may dominate across the assessment period
- North America's polyacrylamide market may reach a market value of US$ 2.5 bn by the end of the forecast period from US$ 1.5 bn
- The U.S. derived extensive growth for North America's polyacrylamide market in 2018
- Asia Pacific held a dominating position in terms of regional contribution in 2018
- Asia Pacific may occupy the same position across the forecast period of 2019-2027
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Polyacrylamide Market: Growth Propellers
The use of polyacrylamide in other applications such as paper, oil recovery, food processing, metallurgy, mineral processing, chemicals, etc. may bring immense growth prospects across the tenure of 2019-2027.
- Expansive investments in the research and development sector may invite promising developments across the polyacrylamide market
- Utilization of polyacrylamide as flocculants in wastewater treatment will serve as a growth multiplier for the polyacrylamide market
- Actions and initiatives toward developing a bio-based polyacrylamide may act as a robust pillar of growth
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Polyacrylamide Market: Competitive Analysis
The global polyacrylamide market comprises numerous players but is dominated by a handful of well-established companies. The players in the polyacrylamide market are involved in activities like expansion, mergers, acquisitions, joint ventures, partnerships, and collaborations. These activities help in cementing the foothold of the players in the polyacrylamide market, eventually increasing the growth prospects.
Prominent participants across the polyacrylamide market are Anhui Jucheng Fine Chemicals Co. Ltd., PetroChina Company Ltd., Mitsubishi Rayon Co Ltd., SNF Floerger Group, and Kemira, and BASF.
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Global Polyacrylamide Market: Segmentation
- Waste Water Treatment
- Oil & Gas Extraction
- Paper & Pulp
- Paints & Coatings
- North America
- Asia Pacific
- Latin America
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