Polyacrylamide is a water-soluble polymer with applications in wastewater treatment, paper production, mining and oil recovery processes. It forms a protective film and helps in removing contaminants from wastewater. Polyacrylamide also finds use as a frother in mining operations to float minerals and as a thickener and water blocking agent in oil extraction. The global Polyacrylamide Market is estimated to be valued at US$ 5.87 Bn in 2023 and is expected to exhibit a CAGR of 61.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The high demand from oilfield and mining industries is driving the polyacrylamide market significantly. Polyacrylamide finds major application as a thickener and water blocking agent in oil extraction processes. It helps in recovering more crude oil by blocking water from entering the oil wells. Polyacrylamide is also used as a frother in mining operations to float desired minerals which aids their extraction. With rising oil and gas exploration and mining activities globally, the consumption of polyacrylamide is expected to increase substantially over the forecast period.
Strength: Polyacrylamide has excellent dispersing and thickening properties which makes it widely used in industrial and domestic applications. It is known for its high viscosity and effectiveness even at low concentrations.
Weakness: Raw materials required for polyacrylamide production are non-renewable and derived from petroleum. Fluctuations in crude oil prices directly impact polyacrylamide production costs.
Opportunity: Increasing demand from wastewater treatment plants as polyacrylamide helps remove solids and suspended particles from water. Rising need for enhanced oil recovery techniques in oil & gas industry also opens up new areas of application.
Threats: Stringent environmental regulations regarding acrylamide monomer disposal during polyacrylamide manufacturing. Competition from other natural polymers limits the scope of polyacrylamide in certain end-use industries.
Global Polyacrylamide Market Demand is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2024 is projected to reach US$ 5.87 billion, indicating substantial rise in demand.
Asia Pacific dominates the global polyacrylamide market and the trend is likely to continue. Rising industrialization and infrastructure development activities in China and India are driving the need for water treatment chemicals including polyacrylamide in the region. Stringent wastewater disposal norms further boost the polyacrylamide market growth.
Key players operating in the polyacrylamide market are Cargill Inc., Nu-Tek Food Sciences LLC, Koninklijke DSM N.V., Montana Indusrie Holding A.G., Angel Yeast Co. Ltd., Tate & Lyle Plc, and Innophos Holding Inc. Cargill Inc. and Koninklijke DSM N.V. hold a significant share of the global market owing to their diversified product portfolios and widespread distribution networks across regions.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it