Focus on Advanced Oil Recovery Methods in Reservoirs Fuels Demand for Products in Polyacrylamide Market: TMR Study
- Widespread application of polyacrylamide (PAM) in enhanced oil recovery process underpinned by utilization of attractive chemical properties of polymers
- Extensive demand in water and wastewater treatment processes offers steady revenue gains to manufacturers in the polyacrylamide market
Sep 20, 2021, 07:30 ET
ALBANY, N.Y., Sept. 20, 2021 /PRNewswire/ -- The products in the polyacrylamide market have grown steadily in commercial significance for synthetic polymer manufacturers. The water-soluble polymer has been extensively studied for its applications in water and wastewater treatment processes, enhanced oil recovery (EOR), mining, and paper industries. Constant advancements in the chemistries of polyacrylamide (PAM) over the years have propelled their demand in these applications.
The number of seawater water desalination units globally has grown on the back of mounting water scarcity. Additionally, brackish water treatment processes have also grown substantially over the recent years. These applications are driving R&D in PAM chemistries to expand their potential applications in water and wastewater treatment. The polyacrylamide market is projected to expand at CAGR of 6.2% during the forecast period of 2019–2027.
The extensive utilization of various types of polyacrylamides in oil & gas, mining, paints & coatings, paper & pulp, and water treatment applications is driving the market valuation. The rise in the demand in the urban wastewater treatment industry has propelled the polyacrylamide market.
Key Findings of Polyacrylamide Market Study
- Enhanced Oil Recovery in Shale Reservoirs Offers Lucrative Avenues: Worldwide, the need for augmenting the production of oil from refineries has intensified. High-molecular-weight polyacrylamide (PAM) has been extensively utilized in chemically enhanced oil recovery processes. The demand has thrived on back of the growing number of shale reservoirs in recent years. Producers of shale gas are keenly adopting advanced EOR for efficient oil recovery, thereby generating vast revenue streams, finds a study on the polyacrylamide market. Chemical companies catering to the demand have been keen on improving the performance characteristics of products by focusing on rheological behaviors, thermal stability, and core flooding feasibility.
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- Rise in Applications of PAM in Wastewater Treatment Processes: PAM is widely utilized as a flocculant in wastewater treatment. Manufacturers in the PAM market are intent on improving the mechanical properties and biocompatibility to meet the emerging technologies in water and wastewater treatment. Growing investment of governments in municipal wastewater treatment facilities in developed and emerging economies has been driven by the burgeoning demand for address potable water scarcity. This has boosted the prospects of the polyacrylamide market.
Polyacrylamide Market: Drivers
- Relentless focus on improving technologies in wastewater treatment has driven the number of municipal wastewater treatment plants around the world, especially in developed nations. The factor has spurred research on PAM chemistries to be utilized in advanced technologies.
- Growing adoption of emerging technologies for augmenting oil production worldwide has generated investments in enhanced oil recovery (EOR) methods
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Polyacrylamide Market: Regional Growth Dynamics
- North America held sizable market share of the global polyacrylamide market in 2019. The valuation of the North America market is projected to touch the US$ 2.5 Bn market by 2027.
- Asia Pacific accounted for the leading market share in 2018, and is projected to offer substantial opportunities during the forecast period. Globally, the region has been the one of the key producers and consumer of polyacrylamide. A large part of the demand in the Asia Pacific polyacrylamide market comes from water and wastewater treatment processes. End-use industries in China, Japan, South Korea, Indonesia, and India are key consumers of polyacrylamide.
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Polyacrylamide Market: Competitive Assessment
- Most prominent manufacturers in the polyacrylamide market are leaning on backward integration to consolidate their market shares and boost their profit margins, notes a study on the polyacrylamide market
- Market players are expected to implement better technologies for storage of volatile PAM, which might offer them a competitive edge over others
- Some of the key players in the polyacrylamide market are Xitao Polymer Co Ltd., Anhui Jucheng Fine Chemicals Co. Ltd., BASF, Mitsubishi Rayon Co Ltd., and PetroChina Company Ltd.
Global Polyacrylamide Market: Research Scope
Global Polyacrylamide Market, by Type
Global Polyacrylamide Market, by Form
Global Polyacrylamide Market, by Application
- Waste Water Treatment
- Oil & Gas Extraction
- Paper & Pulp
- Paints & Coatings
Global Polyacrylamide Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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