Increasing implementation of wastewater treatment facilities due to strong initiatives taken by governments will fuel polyacrylamide market share over the forecast period. Industrial and household sectors have steadily deployed water treatment units to condense wastewater coming collected. Persistent efforts to improve the health standards that will minimize any disease-causing agents in the environment and avoid fatal diseases will influence the product demand.
Polyacrylamide is primarily effective as a flocculant in the industrial sector owing to its non-poisonous nature, water solubility and high mixing ability. Government and regulatory bodies have introduced stringent laws for environment protection and practice of sustainable development of business, driving polyacrylamide industry trends.
The gradual depletion in natural resources along with stringent water regulations have persuaded the manufacturing facilities to treat wastewater before it is released in the environment. Higher demand to procure oil from reserves through the enhanced oil recovery (EOR) technology, due to excellent capability to create cross-links and gelatinous properties, will bolster polyacrylamide market forecast. Large availability of oil reserves in the U.S and China will influence the industry growth.
Anionic polyacrylamide market share is expected to witness gains of more than 7% by 2024. The product is used for treating thick and alkaline wastewater coming mainly from metal industry, steel & iron plant businesses, among others. The product is usually utilized in the energy sector in order to boost frequency of drilling which helps attain crude oil from underneath the surface of the earth.
Non-ionic polyacrylamide market size will experience a robust 8.5% CAGR over the projected timeframe. The product is used to treat the acidic wastewater that is released from industries like paper making, mining & coal, food processing, and several others.
The petroleum application segment accounted for more than 30% of the total polyacrylamide industry size in 2016. There has been a rise in the demand for petroleum products for the generation of electricity, heating, and chemical synthesis purposes which will drive polyacrylamide market forecast in the forthcoming years.
Polyacrylamide market share from the water treatment segment will register over 8% CAGR between 2017-2024. The booming population in developing nations has increased the number of household and industrial units that produce large amounts of wastewater. Improving regulations imposed by government in the Asia Pacific region has coerced industries to use water treatment units. This will foster the product demand and help expand APAC polyacrylamide industry share.
North America polyacrylamide market share is anticipated to accrue more than $2.1 billion by the year 2024. This is due to the prevalence of unconventional gas resources in the United States that will expand demand of the product for its applications in the EOR technology to procure crude oil.
Moreover, key regulatory frameworks that have critical impact on the environment for the maintenance and sustainable development of businesses will help stimulate wastewater treatment in the region, driving polyacrylamide market outlook. Major suppliers of polyacrylamide include Ashland, BASF, PetroChina Company, Mitsubishi Rayon, Xitao Polymer and Kemira Oyj, among others.
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Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. email@example.com | https://twitter.com/RaviChawat
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