NEW YORK, Nov. 28, 2016 /PRNewswire/ --
"Growing demand for enhanced oil recovery expected to drive the growth of the polyacrylamide market"
The polyacrylamide market is estimated to reach USD 3.85 billion by 2021, at a CAGR of 6.8% from 2016 to 2021. In recent years, the Enhance Oil Recovery (EOR) technology is being rapidly adopted by many countries, due to the shortage of current oil resources and difficulties in finding new oil fields that has resulted in energy crises. In the EOR technology, surfactant polymers are injected into a reservoir to reduce interfacial tension between oil and water that helps wipe out trapped oil from the reservoir rock. This consequently leads to increased oil production. Thus, the growing demand for enhanced oil recovery is expected to fuel the growth of the polyacrylamide market, as polyacrylamide is the most commonly used polymer in this application. However, the requirement of high capital expenditure for establishing polyacrylamide production plant creates high entry barriers for the small players, which may restrain the growth of the market.
"Anionic polyacrylamide: largest segment of the polyacrylamide market, based on type"
Anionic polyacrylamide is used in various industries, including wastewater treatment, mineral processing, metallurgy, and electronic industries. It is also used to enhance the oil recovery process and as paper additive and textile pulp agent. The addition of anionic polyacrylamide to irrigation water reduces the erosion of soils to a great extent. Anionic polyacrylamide is extensively used in the wastewater treatment industry as a flocculating agent. It increases the aggregation of small particles, owing to its high molecular weight and good solubility. The growing demand for anionic polyacrylamide in water recycling and water clarification are some of the factors expected to drive the growth of this segment.
"Rising demand for enhanced oil recovery in emerging markets in Asia-Pacific is one of the major factors expected to drive the polyacrylamide market"
Asia-Pacific was the largest market for polyacrylamide in 2015. Increasing demand for polyacrylamide in China and India is expected to drive the growth of the polyacrylamide market in Asia-Pacific.
In the process of determining and verifying the market size of several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The breakdown of primary interviews is given below.
- By Company Type - Tier 1 - 20%, Tier 2 – 32%, and Others - 48%
- By Designation - C level - 18%, Director level - 27%, and Others - 55%
- By Region – Asia-Pacific - 49%, North America-30%, Europe - 10%, Middle East & Africa-11%, South America - 10%
Key companies profiled in this market research report are BASF SE (Germany), Kemira OYJ (Finland), SNF Floerger Group (France), Anhui Jucheng Fine Chemicals Co., Ltd (China), and Daqing Petrochemical Company (China).
The report provides detailed description of the application of polyacrylamide across various industries. The competitive environment prevailing in the industry is analyzed through Porter's Five Forces analytical framework. Porter's Five Forces Analysis provides an in-depth understanding of the market attractiveness and the impact of various forces on the global polyacrylamide market. Moreover, the report includes an in-depth analysis of competitive landscape, value chain. The key factors, such as drivers, restraints, opportunities and challenges were identified and their impact on global polyacrylamide market was analyzed in the study.
Reasons to buy the report
The report will help leaders/new entrants in the market in the following ways:
1. The report segments the polyacrylamide market comprehensively and provides the closest approximations of the revenue for the overall market and the subsegments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides information on key market drivers, restraints, opportunities, and challenges.
3. The report helps stakeholders to understand their competitors better and gain additional insights of the business. The competitive landscape section includes agreement, expansions, joint ventures, and innovations undertaken by market players.
4. The report comprehensively analyses the production capacity and utilization rate of leading manufacturers, globally.
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