Rising Polyacrylamide Use in Wastewater Treatment Market to Drive Global Polyacrylamide Market at 5.6% CAGR over 2015 – 2023 : TMR
A recent market research report published by Transparency Market Research presents a detailed overview of the global polyacrylamide market. The report gives an exhaustive account of the past and present state of the market and its key elements, and gives a forward-looking perspective about the market for the period 2015 through 2023.The report is titled “Polyacrylamide Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 – 2023,” and is available on the company website for sale.
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The report states that the market will exhibit a healthy 5.6% CAGR over the report’s forecast period owing to which it will rise to a valuation of US$6.68 bn by 2023 from US$4.09 bn in 2014.Polyacrylamides refer to a class of water-soluble polymers that are produced by the polymerization of acrylamide. Polyacrylamides are available commercially in the form of variants such as anionic, non-ionic, and cationic. Polyacrylamides are used for coagulating or flocculating solids in a liquid, making them useful in various water treatment applications. The coagulation and flocculating properties of polyacrylamides are also beneficial for the oil recovery industry. Polyacrylamides also finds applications as a binder in the paper making industry.
The rising use of polyacrylamide in wastewater treatment market is a major factor that will drive the global polyacrylamides market over the report’s forecast period. The market has been analyzed on the basis of parameters such as product type, application, and geography.
On the basis of product type, the market has been segmented into non-ionic polyacrylamide, anionic polyacrylamide, cationic polyacrylamide, and other product types such as copolymers and homopolymers. Of these, the segment of anionic polyacrylamide dominated the global market for polyacrylamides in 2014, accounting for a 45% share in the global market. Over the report’s forecast period as well, the segment is anticipated to maintain its dominance in the global market, majorly owing to its rising demand across a large set of application areas.
On the basis of application, the global polyacrylamide market has been segmented into water treatment, paper, oil and gas, and other applications across fields such as biomedicines, and mining. Of these, the segment of water treatment dominated, accounting for over 50% of the global market in terms of volume in 2014. The heightened focus of government bodies towards municipal wastewater treatment is projected to be the leading factor that will boost the use of polyacrylamides in the water treatment market over the forecast period.
On the basis of geography, the market has been examined for North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Of these, the market for polyacrylamides in Asia Pacific dominated the global market, accounting for a share of over 55% in terms of volume in 2014. The trend is projected to remain persistent over the report’s forecast period owing to flourishing end-use industries in China and other countries in ASEAN.
Some of the major vendors operating in the global polyacrylamide market profiled in the report are PetroChina Company Limited, BASF SE, and Kemira.
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