Acrylamide Market Growth Report | USD 6.50 Billion with 6.2% CAGR by 2028

Acrylamide polymer is used as a flocculent in wastewater treatment. It removes the metallic ions from metal salt solution present in industrial wastewater, which is further discarded by filtration. Hence, polyacrylamide is largely used in municipal water treatment plants, sewage water treatment plants, industrial water treatment units, reverse osmosis (RO) systems, etc.

According to the Environmental Protection Agency (EPA), approximately 34 billion gallons of wastewater is processed every day at water treatment facilities in the US. Appropriate treatment of urban wastewater is critical to public health and environmental protection. The increasing wastewater treatment facilities demands acrylamide on a large scale.

The rapid urbanization and growing population across the world have resulted in exponential water consumption and eventually wastewater generation.

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On the other hand, the health hazards caused due to acrylamide exposure hurdles the market growth.

According to product type, the business sphere is divided into acrylamide water solutions and acrylamide crystals. The latter occupied 72.0% market share in 2020. It garnered US$ 2,914.65 million in 2020 and is projected to generate US$ 4,782.01 million by 2028 to rise at 6.6% CAGR during 2021-2028.

As per application, the global acrylamide market is segmented into water & wastewater treatment, enhanced oil recovery, cosmetics, paper manufacturing, chemical intermediate, textiles, and others. The water & wastewater treatment segment held 37.1% share of the domain in 2020. It amassed US$ 1,501.30 million in 2020 and is slated to accrue US$ 2,522.41 million by 2028 to grow at 6.9% CAGR over the forecast period.

From the regional point of reference, it has been observed that the Asia Pacific market captured 51.2% market share in 2020, accounting for US$ 2,074.62 million. It is likely to reach US$ 3,468.52 million by 2028 to surge at 6.9% CAGR.

The chemical & material industry significantly contributes to the global economic development. According to the International Trade Administration (ITA), the US is a world leader in chemical production and exports. While India's chemical sector accounted for US$ 178 billion in 2019, ranking sixth in the world. Chemical companies work as raw material suppliers to many industries such as agriculture, textile, paper, paint, soap, detergent, and medicines. Acrylamide is used as an essential ingredient in many products since it is organic and odorless, available in both liquid and crystalline forms. It readily dissolves in water and other organic solvents. Thus, the global acrylamide market catalyzes due to significant growth of the chemicals & materials industry.

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According to The Insight Partners' research, the global acrylamide market was valued at US$ 4,050.81 million in 2020 and is forecasted to hit US$ 6,500.22 million by 2028 to expand at a CAGR of 6.2% from 2021 to 2028. The rising demand for wastewater treatment and rapid growth of chemicals & materials industry are the stimulating factors attributed to the market expansion.

Strategic Insights:

The prominent players listed in the global acrylamide market report are Ashland Global Holdings Inc, SNF, Kemira Oyj, BASF SE, Black Rose Industries Ltd, Mitsui Chemicals India Pvt. Ltd, INEOS, Solvay, NUOER Group, and EMCO Dyestuff.

• In February 2021, SNF invested US$ 300 million to increase manufacturing capacity in the US. The annual production at the Plaquemine, Louisiana facility, will increase by 30,000 tons of polyacrylamide and 1,00,000 tons of acrylamide monomer.

• In May 2021, Kemira Oyj set up a dry polymer manufacturing facility at Ulsan, South Korea. The plant produces high-quality dry polyacrylamide (DPAM) products for retention and dehydration applications. Moreover, these products are essential for producing paper and paperboard. In June 2021, the company installed a state-of-the-art manufacturing facility in Alabama for the production of emulsion polymer and bioacrylamide monomer.

• In December 2021, Black Rose Industries launched N-Methylol Acrylamide 48%, as a downstream product of acrylamide liquid. The product is available in two grades, regular and low-formaldehyde. It can be used as a monomer for manufacturing latex binders and cross-linkable emulsion polymers.

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