Polyacrylamide Market Statistics, CAGR, Outlook, and Covid-19 Impact 2020
Posted by Shahbaz on October 12th, 2022
Increasing Use in Water and Wastewater Treatment and Pulp & Paper Manufacturing Industry Contributes to Polyacrylamide Market
According to our latest market study, titled “Polyacrylamide Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Anionic, Cationic, Non-Ionic), by Form (Powdered, Liquid) and End Use (Water and Wastewater Treatment; Industrial Wastewater; Pulp and Paper Manufacturing; Oil and Gas; Mining Industry; Others),” the market size is expected to grow from US$ 4714.79 million in 2022 to US$ 6485.30 million by 2028. It is expected to grow at a CAGR of 5.5% from 2022 to 2028. The report highlights key factors governing the growth of this market. It also profiles prominent market players and their developments in the Polyacrylamide Market.
Rapidly growing water treatment industry across the globe are projected to drive the growth of polyacrylamide market. Polyacrylamide is synthetic and long chain of homopolymers. It has high molecular weight and has high solubility in water, which makes its suitable for water treatment industry. It is widely used as thickening agent, binder and flocculating agent. Investment in energy projects owing to rising demand is also increasing demand of polyacrylamide in petroleum applications. For instance, U.S. is investing in its shale oil and gas exploration projects to meet the increasing demand and cut the dependency on Middle Eastern countries for oil, petroleum, and petrochemical derivatives.
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In 2021, Asia Pacific held the largest share of the Polyacrylamide markets. Asia Pacific is the largest market for polyacrylamide due to increasing industrialization with increasing population in the region, which has increased the demand for water purification for industrial applications. The region's strong pharmaceutical and chemical industry sector has generated large amounts of wastewater, which is expected to drive the demand for polyacrylamide as a water treatment chemical during the forecast period. The region is also one of the world's leading pulp and paper markets and is home to several major pulp and paper industries, including Shandong Pulp and Paper Co., Ltd. It benefits from its existence. expected duration. Demand for polyacrylamide from the oil and gas industry in China, India and other Asia Pacific regions is expected to drive the market demand in this region. China has become one of the largest markets for polyacrylamides due to extensive coal mining and washing operations. India is expected to become one of the fastest growing markets for polyacrylamides for wastewater treatment businesses due to the growth of water treatment and oil and gas businesses in the region.
Impact of COVID-19 Pandemic on Polyacrylamide Market
The COVID-19 pandemic led to adverse effects in many industries, such as the chemical & materials, as they faced unprecedented challenges due to disruptions in supply chains and disharmony in manufacturing, delivery schedules, and sales of various goods. The demand for polyacrylamide decreased due to disturbances in the operations of the many end-use industries such as wastewater treatment, industrial wastewater, pulp and paper manufacturing industry. Many polyacrylamide polymer production sites were closed in 2020, either partially or completely. Moreover, fluctuations in raw material costs and availability resulted in the volatility of prices of polyacrylamide. However, with economies reviving gradually since 2021, the demand for polyacrylamide market is expected to increase in the coming years.
SNF, Kemria Oyj, BASF SE, China National Petroleum Corporation, Anhui Jucheng Fine Chemicals, Mitsui Chemicals, Inc., Ashalnd Inc., Black Rose Industries Ltd., Xitao Polymer Co., Ltd., Dongying Kechuang Biochemical Industrial Co. Ltd. are the key players in the Polyacrylamide Market. These market players are emphasizing on developing high-quality and innovative products, and expanding their product portfolios to address continuously evolving customer demands.
The report segments the Polyacrylamide Market as follows:
By application, the Europe EVOH resins market is segmented into films, trays, bottles, bag-in-box, and others. By end use, the market is segmented into bakery and confectioneries; beverages; sauces and dressings; meat, poultry, and seafood; RTE foods and meals; and others. By Country, the market is segmented into Germany, France, Italy, Spain, Russia, the UK, and the Rest of Europe.
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About the AuthorShahbaz
Joined: September 26th, 2022
Articles Posted: 71
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