Growing Industrialization will Influence the Polyacrylamide Market Growth

The global polyacrylamide is being dominated by a few players due to their large production capacities. Their lion’s share is also being supplemented by the growing investment in effective backward integration plans, Transparency Market Research states in a new report. The top three players, SNF, China National Petroleum, and Kemira, held a mammoth share of 53.1% in 2014.

The business strategy of expanding production capacities is anticipated to help the companies operating in the global market seek higher revenues and better market presence. Mergers and acquisitions are also being considered by some of the leading players in the global market to add value to its technical know-how, product portfolio, and expansion of production facilities. BASF played a huge role in affirming this trend as it merged its oilfield solution, mining, and water businesses into one unit, thereby improving its business in North America.

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Pressing Need to Treat Water Increases Polyacrylamide Usage

The unique characteristics of polyacrylamide make it the perfect flocculating and coagulating agent that is required for separating suspended solid particles present in the wastewater. Thus, polyacrylamide plays an integral in water treatment, which has become a growing concern due to rapid industrialization and increasing water pollution levels. TMR analyst says, “The demand for polyacrylamide is also seen rising against the backdrop of the stringent regulatory framework to treat water before it is let out from industries and other municipal sources.” Furthermore, the rise in the shale gas exploration and production activities is also going to propel this market as polyacrylamide is largely used for drilling.

The volatile nature of raw material prices such as acrylonitrile, which is made from crude oil, is the biggest restraint in the production and sale of polyacrylamide market. Any change in the price of crude oil has a direct impact on the polyacrylamide production. Another factor hampering discouraging polyacrylamide usage is the fact that acrylamide remains carcinogenic in nature. This restraint is further supported by World Health Organization that states the quantity of acrylamide concentration should not be more than 0.5 micrograms per liter of water.

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Shale Gas Exploration Opens Doors for Opportunities

Several application opportunities offered by the oil and gas segment will overpower the restraints in the global polyacrylamide market. The phenomenal progress of the shale gas and wet shale gas production is anticipated to have a positive impact on the overall market. Polyacrylamide is extensively used in the oil and gas sector as it improves oil recovery by reducing friction.

The research report indicates that the opportunity in the global polyacrylamide market will be worth US$6,678.0 mn by 2023 as compared to US$4,089.5 mn in 2014. During the mentioned forecast period of 2015 and 2023, the market is anticipated to progress at a CAGR of 5.6%. The largest application segment of the polyacrylamide is water treatment where it is used as a flocculating agent. From 2015 to 2023 this application segment is anticipated to surge at a CAGR of 5.3%.

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This release was published on openPR.