by Polyacrylamide is a water-soluble polymer used in various industrial applications such as oil recovery, paper manufacturing, wastewater treatment, mining, and soil conditioning. It finds major usage in the wastewater treatment plants where it helps in removing suspended solid matter from effluents before they are discharged into water bodies. Polyacrylamide is added to wastewater where it binds to fine particles and forms larger settleable flakes. This helps remove 95-97% of suspended solids from wastewater.
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 Dynamics:
Rising demand for wastewater treatment: Stringent regulations regarding effluent discharge parameters are expected to drive the demand for polyacrylamide from the wastewater treatment industry. According to the WHO, over 80% of wastewater generated worldwide flows back into the ecosystem without being treated or reused. This is polluting water resources. Thus, governments are actively promoting wastewater treatment activities. Polyacrylamide finds wide acceptance in coagulation and flocculation stages of wastewater treatment plants. Its ability to effectively remove suspended and dissolved contaminants without any harmful by-products makes it a preferred choice.
Growing industrial wastewater: Rapid industrialization and urbanization have resulted in exponential growth of industrial wastewater volumes globally. This consists of effluents from various sectors such as food & beverage, oil & gas, chemicals, power, and mining. Effective treatment of this wastewater before disposal is a major concern from an environmental standpoint. Polyacrylamide, with its excellent flocculation properties, is widely used by industrial wastewater treatment facilities to meet stringent discharge norms. This growing industrial wastewater is expected to propel the product demand over the forecast period.
Segment Analysis
The global polyacrylamide market is dominated by the flocculants segment which holds around 70% of the market share. Flocculants are widely used in water treatment for removal of suspended particles from water bodies. They help settle down these particles which makes the water clean. The high usage of flocculants in municipal and industrial wastewater treatment has led to its large share in the polyacrylamide market.
PEST Analysis
Political: Stringent regulations regarding wastewater treatment and quality of discharged water have boosted demand for polyacrylamide products that help meet the prescribed quality standards. Many countries offer subsidies for adopting wastewater treatment techniques.
Economic: Growth in end-use industries like paper manufacturing, water treatment has accelerated polyacrylamide consumption. Rising urbanization and industrialization in developing nations augur well for market expansion.
Social: Increasing public awareness about environmental protection and water conservation has intensified adoption of polyacrylamide in industrial and municipal wastewater treatment plants.
Technological: Advancements in polymer manufacturing technologies have improved product efficacy. New applications in enhanced oil recovery and 3D printing offer growth prospects.
Key Takeaways
Global Polyacrylamide Market Demand is expected to witness high growth over the forecast period of 2023 to 2030 driven by rising applications in wastewater treatment, oil & gas recovery, and others.
Regional analysis: Asia Pacific region currently dominates the market and is expected to maintain its lead position during the forecast period supported by strong growth in water treatment, wastewater recycling in China, India and other developing nations.
Key players: 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 major share of the market.
The global polyacrylamide market size for 2024 is expected to reach US$ 5.87 Bn registering a CAGR of over 61% during the forecast period. Growth will be driven by wider application in wastewater treatment and EOR techniques along with ongoing capacity additions by leading players.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
