Polyacrylamide Market Size is Expected to Reach USD 7.54 Billion by 2032, Growing at a CAGR of 5.25%: Straits Research
Polyacrylamide Market Size, Share & Trends Analysis Report By Product Type (Anionic, Cationic, Non-ionic), By Applications (Water Treatment, Enhanced Oil Recovery, Pulp and Paper, Mineral Processing, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032
New York, United States, Aug. 27, 2024 (GLOBE NEWSWIRE) -- As per the Latest Report by Straits Research, the global polyacrylamide market size was valued at USD 4.76 billion in 2023. It is estimated to reach USD 7.54 billion by 2032, growing at a CAGR of 5.25% during the forecast period (2024–2032).
Polyacrylamide, PAM or pAAM, is a chemical compound with the formula (-CH2CHCONH2). A linear chain constitutes the structure. It exists in various physical states, including a white powdery, granular consistency and a gel-like substance. Polyacrylamide is widely utilized in numerous industries, including the petroleum sector, for enhanced oil recovery, paper manufacturing, water treatment, and soil conditioning.
Polyacrylamide is a component of polyolefins. The carbon atom is converted into polyethylene by appending an amide substituent for each alternating carbon atom. In contrast to nylons, polyacrylamide is not categorized as a polyamide because it lacks amide groups on its polymer backbone.
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Growing Demand from the Water Filtration Industry Drives the Global Market
Polyacrylamide is widely used in water treatment processes, particularly in the wastewater and potable water purification industries. Present freshwater resources are being severely depleted due to expanding industrialization and urbanization and the rapid growth of the global population. Industrial water utilization accounts for twenty-two percent of global water consumption. Moreover, in 2021, water-stressed nations were home to more than 2 billion people, per the WHO. To protect the environment, numerous governing bodies and regulatory organizations have issued many rules and requirements regarding the treatment and disposal of effluent, especially from the industrial sector.
Polyacrylamide functions as a flocculant agent, facilitating the formation of larger particles called flocs by agglomerating minute particles in water. Consequently, the sedimentation process enhances the settling velocity of these flocs, which facilitates the efficient elimination of dispersed solids from the water. Enhanced particle aggregation has the potential to increase the effectiveness of coagulation agents. Implementing this approach demonstrates notable benefits in water purification characterized by elevated colloidal content or turbidity. Therefore, the market is growing due to the increasing demand from the water treatment industry.
Development for Bio-Based Polyacrylamide Creates Tremendous Opportunities
The development and implementation of bio-based polymers are driven by the overarching goal of creating sustainable and environmentally sensitive alternatives in the polymer industry. As a result, the major players are transitioning from conventional to renewable alternatives for their products. For instance, Kemira Oyj, a Helsinki, Finland-based company, initiated worldwide full-scale production of its novel bio-based polyacrylamide in February 2022. The initial commercial quantities are transported to an effluent treatment facility managed by the Helsinki Region Environmental Services (HSY) for experimental purposes. These advancements are anticipated to create opportunities to expand the market.
Regional Analysis
In the Asia-Pacific region, highly effective wastewater treatment is required due to the region's burgeoning urbanization, booming industrialization, rising water pollution, and water constraints in numerous countries. For instance, according to statistical data presented by the National Development and Reform Commission (NDRC), a considerable percentage of China's seven principal river systems (approximately 32%) and a considerable portion of its principal basins (approximately 29%) did not meet the grade III or lower water quality standards. The heightened need for water treatment has prompted the governments of numerous countries to undertake measures to develop efficient wastewater treatment approaches.
As an illustration, a collaborative effort is underway between the 2030 Water Resources Group and the Council on Energy, Environment, and Water (CEEW) to improve effluent management in India and stimulate private investments in developing treatment facilities. Thus, the expansion and increased demand for wastewater treatment processes are anticipated to stimulate the regional polyacrylamide market.
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Key Highlights
- The global polyacrylamide market size was valued at USD 4.76 billion in 2023. It is estimated to reach USD 7.54 billion by 2032, growing at a CAGR of 5.25% during the forecast period (2024–2032).
- Based on product type, the global polyacrylamide market is divided into anionic, cationic, and non-ionic.
- Based on application, the global polyacrylamide market is segmented into water treatment, enhanced oil recovery, pulp and paper, mineral processing, and others.
Top 10 key players in Polyacrylamide Market
- Anhui Jucheng Fine Chemical Co, Ltd. (CJCC)
- BASF SE
- Kemira
- Ashland Inc.
- SNF Group
- Shandong Polymer Bio-chemicals Co., Ltd.
- Black Rose Industries Ltd.
- Xitao Polymer Co., Ltd.
- Dongying Kechuang Biochemical Industrial Co., Ltd.
- ZL EOR Chemicals Ltd.
Recent Developments
- In June 2023, Avient, an American polymer manufacturer, partnered with BASF, a German chemical company, to introduce colored grades of Ultrason high-performance polymers to the international market.
- In December 2022, SNF concluded constructing and expanding its Riceboro, Georgia facility's ADAM (dimethylaminoethyl acrylate) monomer production capacity spanning two years. This expansion increases the ADAM capacity of SNF in the United States by 80%. ADAM is the primary substrate for ADC80 cationic monomer, a critical constituent in all polymers based on SNF cationic polyacrylamide.
Global Polyacrylamide Market: Segmentation
By Product Type
- Anionic
- Cationic
- Non-ionic
By Applications
- Water Treatment
- Enhanced Oil Recovery
- Pulp and Paper
- Mineral Processing
- Others
By Regions
- North America
- Europe
- Asia-Pacific
- Latin America
- The Middle East and Africa
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