The global polyacrylamide market is expected to reach USD 6.83 billion by 2025
LONDON, Nov. 1, 2017 /PRNewswire/ -- Polyacrylamide Market Analysis By Product (Anionic, Cationic, Non-ionic), By Application (Water treatment, Oil & Gas, Paper Making), By Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa), And Segment Forecasts, 2014 - 2025
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The global polyacrylamide market is expected to reach USD 6.83 billion by 2025, according to a new report by Grand View Research, Inc.
The market is expected to witness a CAGR of 6.1% over the forecast period, owing to Increasing penetration of the product in water purification activities as a flocculating agent is expected to propel demand.
The industry is highly influenced by the raw material availability and price trends. The prices for the product are likely to grow over the forecast period owing to the rising crude oil prices, which are further impacting the acrylamide, and acrylonitrile prices. As a result, the industry players are vertically integrated to lower their dependency on the raw material suppliers.
SNF and BASF are few of the top polyacrylamide manufacturers as of now. The multinationals are expanding their production bases and volumes to strengthen their roots in the industry. Also, the industry has numerous small-scale players, which supply their product in the domestic market. These players are likely to offer competitive pricing to gain share in the industry against these major players.
Further key findings from the report suggest:
• Anionic polyacrylamide was the largest product segment accounting over 45% of the overall demand in 2015 owing to their low price and high demand in water recycling, food clarification applications
• Wastewater treatment emerged as the largest application segment for the product, accounting over 35% of the overall demand owing to the early adaption and high product volumes required by the sector
• The demand for the product in oil & gas is expected to grow at the highest rate owing to the growing product demand in mud drilling, enhanced oil recovery, and solid/liquid separation activities
• Asia Pacific dominated the industry accounting for 55% of the overall demand, as the region has major of the water treatment and paper making sector in the world. India is expected to witness fastest growth in Asia Pacific owing to rapid industrialization and high investments in manufacturing sector in the country
• The industry is fragmented owing to the existence of several manufacturers, with expansion of the product portfolios which include xanthan gum and partially hydrolyzed polyacrylamide
• The major players in the industry include SNF, BASF, CNPC, Ashland, Kemira and Anhui Tianrun
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