The global Polyacrylamide Market is estimated to be valued at US$ 5.86 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Polyacrylamide is a water-soluble polymer that offers advantages like thickening, water absorption, and retention in various applications. It finds widespread usage in flocculation and clarification processes in wastewater treatment. Other major applications of polyacrylamide include oil and gas extraction, mining, paper manufacturing and soil conditioning among others. It helps in clarifying and thickening liquids and suspending solids in various industrial processes.
Market key trends:
One of the key trends driving the polyacrylamide market growth is its increasing usage in wastewater treatment processes. With growing industrialization and urbanization, wastewater volumes are rising globally. Polyacrylamide acts as an effective coagulant and flocculant agent in clarifying and dewatering industrial and municipal wastewater. It facilitates the removal of suspended solids, organic matter, heavy metals and other harmful pollutants from wastewater. This increases the reuse and recycling of treated water. Rising environmental regulations regarding wastewater discharge are further propelling the adoption of polyacrylamide in wastewater treatment applications.
Threat of new entrants: Low economies of scale in production and well-established players in the market make the threat of new entrants low in the polyacrylamide market.
Bargaining power of buyers: The presence of many large buyers like the paper industry make the bargaining power of buyers high in the polyacrylamide market.
Bargaining power of suppliers: Well availability of raw materials and supplier base makes the bargaining power of suppliers moderate in the polyacrylamide market.
Threat of new substitutes: Abundance of substitute products pose a moderate threat of substitution in the polyacrylamide market.
Competitive rivalry: Intense competition among key players leads to high competitive rivalry in the polyacrylamide market.
The global Polyacrylamide Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand from water treatment plants.
Regional analysis: Asia Pacific dominates the polyacrylamide market and is expected to continue its dominance over the forecast period owing to rapid industrialization and increasing demand from water treatment application in countries such as China and India.
Key players operating in the polyacrylamide market are Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Ashland Inc., BASF SE, Kemira, SNF Group, Black Rose Industries Ltd., Shandong Polymer Bio-Chemicals Co., Ltd., Xitao Polymer Co., Ltd., ZL EOR Chemicals Ltd., Dongying Kechuang Biochemical Industrial Co., Ltd. Anhui Jucheng is one of the prominent players in the polyacrylamide market.
The global polyacrylamide market size for 2023 is US$ 5.86 billion. Water treatment remains the dominant application segment due to stringent wastewater regulations. The Asia Pacific is expected to remain the fastest growing as well as the dominant regional market during the forecast period.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it