Water Soluble Polymer Market will grow at a CAGR close to 6% by 2024 From Water treatment segment
High growth in consumption in the water treatment industry will augment the demand for these products throughout the forecast years. The rising demand from oil & gas industry for reducing the hydrate formation in the oil pipelines will further complement the global water soluble polymer market size during the forecast timeframe.
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These polymers are used in various industry verticals such as pharmaceuticals, chemicals, mining, F&B and textiles. High growth in consumption of these products across all th ese industry verticals will drive their demand, and will eventually drive the demand throughout the forecast period. In further, the rising demand for wastewater treatment in the developing nations of Asia Pacific and Latin America will give a significant boost to water soluble polymer market size.
This market is also subjected to some restraints over the forecast period. Fluctuating raw material prices will likely present a significant challenge to the existing players. This market will also be liable to hinder, due to bearing a threat of showing negative impacts on the environment as well as humans.
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Water treatment is likely to grow at a CAGR close to 6% by the end of 2024. The market growth will be majorly attributed to being more useful in reducing the toxic effects of the industrial effluents, further helping in the reduction of waste and further assist in achieving environmental sustainability. Growing concerns against water-pollution have led to the devising of stricter laws and regulations to take the initiative against wastewater generation, which will show a positive impact on the water soluble polymer market share by the end of 2024.
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In 2016, the Asia Pacific regional market size was close to USD 9 billion. Substantial market share along with a decent growth rate by 2024 will be due to rapid industrialization in China and India, and massive wastewater generation. Furthermore, strong growth indicators in regional F&B, pharmaceutical and oil & gas will create a remarkable contribution to the water soluble polymer market growth in the coming years.
Key contributors of this market are BASF, Kemira, Ashland, SNF SAS, Arkema, Kuraray, DuPont, Dow, Nitta Gelatin, LG Chem.
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