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Polyacrylamide Market to register an appreciable growth rate through 2024

01-13-2020 10:39 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: global market insights

Polyacrylamide Market

Polyacrylamide Market

Geographically, Asia Pacific is one of the major growth avenues of polyacrylamide market, driven by vigorous initiatives in this region to conserve its natural water resources coupled with increasing waste water ratio due to rapid industrialization. As per the estimates, APAC is foreseen to exhibit a CAGR of 8% over 2017-2024, primarily driven by China, India, and Malaysia.

China’s total waste water discharge has increased from 41.5 billion tones in 2000 to 68.5 billion tones in 2012, a significant raise of 65% over the period. Growing urbanization trends in the region has led to a raise in domestic wastewater volumes. China’s urbanization rate has soared from 36% to 53% over 2000-2012 and is anticipated to be over 60% by 2020. Subject to this fact, China polyacrylamide market is likely to witness a lucrative roadmap over the coming seven years.

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The polluted water resources are one of the major concerns being addressed by the government and environmental bodies. Treatment and protection of water & sewage is closely linked to preservation of the environment and has received more attention from the regulatory bodies. Polyacrylamide, thus plays a very important role in the field of water treatment. Severe regulations imposed by the governments to treat the industrial waste water before releasing, has significantly contributed toward the growth of polyacrylamide market size. Estimates claims polyacrylamide industry size from water treatment applications to grow at an annual rate of 8% over 2017-2024.

Global polyacrylamide market is set to rise at an unprecedented pace with the global population battling the catastrophe of water scarcity and depleting water resources. Recognized as an excellent flocculent, polyacrylamide is highly used as a water absorbing polymer in the treatment of waste water released from household and industrial sectors.

Growth Drivers are

- Rising product demand in the water treatment facilities in Asia Pacific
- Escalating product demand in petroleum industry in North America

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Polyacrylamide Market is further projected to gain strong footing with the formulation of stringent regulatory compliances pertaining toward waste water treatment. Such regulations coupled with the wide usage of this chemical in water treatment applications have left subsequent impact on the demand of polyacrylamide market, which was pegged at USD 5.5 billion in 2016. Below mentioned are most lucrative applications of polyacrylamide.

Polyacrylamide is extensively used in the oil industry to enhance the oil recovery and is prominently used as a drilling and fracturing fluid. Driven by this wide range of application spectrum, polyacrylamide market share from petroleum application is set to record a CAGR of 8.5% over 2017-2024.

A significant rise in the demand for energy has impelled the exploration, production, and recovery of oil and petroleum on a large scale. For instance, prevailing shale oil & gas resources in the US have increased the demand for polyacrylamide for drilling activities. As per estimates, North America polyacrylamide market is set to double its market value from 2016 recorded at 1 billion to USD 2 billion by 2024.

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Apart from polyacrylamide’s major use in petroleum and water treatment, it also finds application in the paper-making, mining, textile, personal care, agriculture, and construction sector. Non-ionic, cationic, and anionic are the key product segments used in these applications. In Latin America and Middle East, the growth of polyacrylamide industry is relatively lower due to lack of product penetration and low application scope. However, in Asia Pacific, application of polyacrylamide is chiefly concentrated in water treatment & paper making sectors. While in Europe & North America there is a greater product demand from oil & gas and mining sectors.

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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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