Press release
Rising demand for water treatment plants to favor polyacrylamide market forecast | BASF SE, SNF Floerger Group, Kemira Oyj, Solvay, Anhui Jucheng Fine Chemicals Co. Ltd
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Companies covered:
BASF SE, SNF Floerger Group, Kemira Oyj, Solvay, Anhui Jucheng Fine Chemicals Co. Ltd, PetroChina Daqing Refining & Chemical Company, Anhui Tianrun Chemicals Co., Ltd, Beijing Hengju Chemical Group Corporation, Jiangsu Feymer Technology Co Ltd, Mitsubishi Rayon Co Ltd, Shadong Polymer Biochemicals Co. Ltd., Solenis, Ashland Inc., ZL Petrochemicals Co. Ltd, Yixing Bluwat Chemicals Co. Ltd, King Union Group Corp, Envitech Chemical Specialities Pvt.Ltd., Shuiheng Chemicals, Xitao Polymer Co Ltd
Key drivers fueling polyacrylamide market share:
The polyacrylamide industry is often categorized into cationic (CPAM), non-ionic (NPAM) and anionic (APAM). Among these, the non-ionic polyacrylamides segment is projected to witness remarkable growth, with estimated CAGR scaling up to 5.9% by 2024. NPAM is mainly used in colliery effluent treatment processes as a thickening agent. The wastewater often includes clay particles in suspension that are flocculated by spreading non-ionic polyacrylamide components. As a result, increasing usage of NPAM in wastewater treatment plants could advance the polyacrylamide market trend over the predicted timeframe.
Meanwhile, other PAM products include copolymers like amphoteric polyacrylamide and acrylamide, a homopolymer of polyacrylamide. Evidently, these product segments are expected to record a compound annual growth rate of 3.7% by 2024.
Here are some of the ongoing trends in the PAM market:
Application across diverse end-user industries:
The polyacrylamide market is majorly bifurcated into petroleum, water treatment, and paper-making. It also finds application in the textile and mining sectors. Elaborating on the textile industry, PAM is generally used in small quantities alongside other chemicals while textile sizing.
Apparently, the chemical component has excellent dispersion, hygroscopicity, smoothness of size, film-forming abilities and adsorption along with low elasticity and high strength. Estimates say that the other application segment, which consists of textile and mining activities, could observe a promising 6.9% CAGR within the study timeframe.
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Promising growth opportunities in Latin America:
LATAM is considered to be a lucrative ground for the polyacrylamide industry in the coming years. Earlier in 2018, the region held for over 5.1% of the overall market share. This growth can be attributed to ongoing EOR operations in the region’s petroleum sector.
Additionally, factors like subsequent need for efficient wastewater treatment and burgeoning population could play a crucial part in enhancing the LATAM polyacrylamide market outlook over the forecasted timeframe.
Growing demand for water treatment plants across MEA:
Increasing requirement for effective wastewater treatment and management in Middle East and Africa could improve the business outlook of several regional polyacrylamide companies. These regions usually face water scarcity issues, encouraging the adoption of advanced wastewater treatment solutions. Considering these factors, Global Market Insights, Inc., estimates that the MEA polyacrylamide market may register CAGR of more than 4.3% by 2024.
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