Polyacrylamide Market Expected To Fuel Industry Growth With $9.1 Billion By 2030: Grand View Research Inc.

 

San Francisco, 31 July 2023: The Report Polyacrylamide Market Size, Share & Trends Analysis Report By Product (Cationic, Anionic), By Application (Water Treatment, Oil & Gas), By Region (Asia Pacific, North America), And Segment Forecasts, 2023 - 2030

The global polyacrylamide market size is expected to reach USD 9.1 billion by 2030, registering a CAGR of 6.5% according to a new report by Grand View Research, Inc. Increasing penetration of the product in water purification activities as a flocculating agent is expected to propel the demand for polyacrylamide.

The market is highly influenced by the availability of raw material and fluctuating price trends. The prices of polyacrylamide are likely to grow over the forecast period owing to rising crude oil prices, which are further impacting the acrylamide, acrylic acid, and acrylonitrile prices. As a result, the market players are likely to integrate the value chain to reduce their dependency on the raw material supplier and increase profit margins.

SNF, BASF, and Kemira are few of the top polyacrylamide manufacturers. The multinationals are expanding their production bases and volumes to strengthen their roots in the market. Moreover, the market has numerous small-scale players, selling their products in domestic market. These players are likely to offer competitive pricing to gain market share against these major players.

Key applications of polyacrylamide include water treatment, oil and gas, and paper making. Other application areas include pharmaceuticals, cosmetics, and personal care products. Polyacrylamide is used as a flocculent in waste water treatment of the chemical industry and municipal sewage treatment.

The growing demand for the product across various application industries including wastewater treatment, oil recovery, paper-making, and food & beverage is expected to propel the industry growth. Abundant raw material availability, low labor, and land cost coupled with high consumption in the Asia Pacific region are likely to compel manufacturers to set up their production plants in this region. However, the presence of numerous Chinese manufacturers, which offer their products at relatively lower prices are expected to be key threats for the new entrants.

Increasing crude oil prices are likely to raise raw material pricing in the industry, resulting in upward trends in the polyacrylamide price trends over the next seven years. The major manufacturers, such as SNF and BASF, have brand values and strategic partners, which enable easy marketing of their products. The manufacturers are likely to improve product quality and invest more in R&D to reduce the overall polyacrylamide cost to tap the growing demands.

Request sample report of Polyacrylamide Market@ https://www.grandviewresearch.com/industry-analysis/polyacrylamide-market/request/rs1

Polyacrylamide Market Report Highlights

• Anionic polyacrylamide was the largest product segment accounting for over 45% of the overall demand in 2018 owing to its low price and high demand in water recycling and food clarification applications
• Cationic polyacrylamides are expected to expand at a CAGR of over 6.3% in terms of revenue from 2023 to 2030 owing to their rising demand from papermaking and oil and gas recovery
• Wastewater treatment emerged as the largest application segment, and accounted for over 35% of the overall market share in terms of demand in 2018 owing to arly adaption and high product volumes required by the sector
• Demand for polyacrylamide in the oil and gas sector is expected to grow at the fastest pace owing to growing application in mud drilling, enhanced oil recovery, and solid/liquid separation activities
• Asia Pacific led the polyacrylamide market in terms of revenue and accounted for over 55% market share in 2018, as the region has majority of the water treatment and paper making facilities in the world. India is expected to emerge as the fastest-growing regional market owing to rapid industrialization and high investments in the manufacturing sector
• The market is fragmented in nature, owing to existence of several manufacturers, along with expansion of the product portfolios, which include xanthan gum and partially hydrolyzed polyacrylamide. Major market players include SNF, BASF, CNPC, Ashland, Kemira, and Anhui Tianrun.

As a result, cost competitiveness is likely to be the key criterion for influencing buyers’ decisions. The industry is dominated by multinationals including SNF Group, CNPC, BASF, and Kemira, which accounted for over 50% of the overall market. These multinationals have a direct and indirect distribution system for the product supply in the domestic as well as international market. In addition, companies are expected to increase their production volumes to tap the rising demand across the globe.

Polyacrylamide Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 5.8 billion
Revenue forecast in 2030	USD 9.1 billion
Growth rate	CAGR of 6.5% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030

List Of Key Players Of Polyacrylamide Market

• Anhui Jucheng Fine Chemical Co, Ltd. (CJCC)
• Ashland Inc.
• BASF SE
• Kemira
• SNF Group
• Black Rose Industries Ltd.
• Shandong Polymer Bio-Chemicals Co., Ltd.
• Xitao Polymer Co., Ltd.
• ZL EOR Chemicals Ltd.
• Dongying Kechuang Biochemical Industrial Co., Ltd.

Access Press Release of Polyacrylamide Market@ https://www.grandviewresearch.com/press-release/global-polyacrylamide-market