Albany, NY -- (SBWIRE) -- 04/30/2018 -- The global polyacrylamide market is a consolidated and competitive one with the dominance of a handful of market players, states Transparency Market Research (TMR) in a new report. The adoption of innovative techniques to introduce novel products and to improve existing ones is the focus of these companies, which will help them gain competitive edge. In addition, in this competitive environment, prominent participants such as BASF SE, Ashland Inc., Kemira Inc., SNF Group, and Bio-Rad among others are likely to adopt diverse strategies to buoy growth trends.
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In a recent study, TMR has pegged the valuation of global polyacrylamide market at US$4,429.5 mn in 2016. Expanding at a CAGR of 6.3% between 2017 and 2025, the overall market is likely to be valued at US$7,657.9 mn by the end of 2025.
Among the various product segments, anionic segment led the overall market in 2016. High demand for anionic polyacrylamide in food recycling and water treatment applications due to its low price is projected to boost the segment's share across the globe. Asia Pacific, among all, is a prominent region of the global polyacrylamides market.
Use for Desalination Applications Ramps up Growth
The growth of the polyacrylamide market is majorly due to the increasing demand for water desalination units and brackish water treatment units. The rising demand for clean and safe water for the growing world population has necessitated desalination of ocean water due to insufficient fresh water resources. Efforts to harvest large volume of seawater that is not bonded with salt and is potentially available to serve human needs involves using hydrophilic polymers such as acrylamides that are soluble in water. This is having a strong impact on the growth of polyacrylamide market.
Efficiency in Water and Sewage Treatment Processes for Environment Conservation Fuels Growth
Further, the demand for polyacrylamides for water treatment and sewage treatment is also stoking growth of polyacrylamide market. Treatment of natural water and sewage is closely associated with conservation of the environment and is thus a present day problem that needs to be addressed. In the last few decades, the content of heavy metals, organic compounds, pesticides, synthetic surfactants, and other pollutants from industrial and municipal waste has increased substantially in open water reservoirs. This has gathered attention of governments and civic authorities in several parts of the world to decontaminate polluted water resources.
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Water soluble high molecular compounds such as polyacrylamide flocculants are serving to address pitfalls in currently used technology for water treatment. Due to the efficiency of polyacrylamides in removal of heavy metals and other compounds, their utilization is on the rise. Polyacrylamide is a linear water soluble polymer. Polyacrylamide and its derivatives are used as flocculants for several applications such as paper making, construction, thickening, of which water processing is a prominent one. In particular, in emerging economies, vigorous initiatives from governments to conserve natural resources along with increasing waste water due to rapid industrialization is likely to boost the polyacrylamide market.
Lastly, significant rise in the demand for energy has led to massive oil and gas exploration and production activities that are underway. Polyacrylamides are extensively used in the oil industry to improve oil recovery and is used as a drilling and fracturing fluid agent.