Polyacrylamide Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
Global Polyacrylamide Market: Snapshot
The polyacrylamide market is prognosticated to observe exponential growth during the forecast period of 2020-2030. The rapidly expanding water treatment industry is extrapolated to bring immense growth prospects for the polyacrylamide market.
Polyacrylamide is a category of polymer created by the synthesis of acrylamide subunits. It has high molecular weight and is a water-soluble polymer created by the polymerization of acrylamide. The wide use of polyacrylamide as a binder, flocculating agent, and thickening agent will bring exponential growth for the global market.
The demand for clean and safe water has increased substantially over the years. Further, strict environmental norms and industrial regulations have also raised prominence regarding wastewater treatment. The expanding focus on industrial and sewage wastewater treatment in various regions will bring tremendous growth opportunities for the polyacrylamide market. In addition, polyacrylamide is also used across the oil and gas industry. This aspect will further strengthen the growth opportunities of the polyacrylamide market.
The properties of polyacrylamide to offer good viscosity and recover oil in a cost-effective way will brings extensive growth prospects. Research and development activities are increasing at a rapid rate across the polyacrylamide market. The players invest immensely in these activities for discovering insights. These insights assist in boosting the revenues of the players in the polyacrylamide market.
Strategic collaborations have a profound impact on the growth trajectory of the polyacrylamide market. Mergers, acquisitions, joint ventures, and partnerships strengthen the influence of the players in the polyacrylamide market, eventually increasing the growth rate of the polyacrylamide market.
The COVID-19 pandemic had a negative impact on the polyacrylamide market growth cycle. The restrictions imposed to curb the transmission of the virus resulted in the closing down on manufacturing facilities and production units. This aspect damaged the growth structure of the polyacrylamide market. However, the relaxations in the restrictions will present good opportunities of growth for the polyacrylamide market.
Global Polyacrylamide Market: An Overview
The global polyacrylamide market is likely to expand at a healthy CAGR during 2018-2026, due to growing demand in high margin facial surgery application. Polyacrylamide is formed with acrylamide subunits. It is abbreviated as PAM and a type of polymer. Polyacrylamide is gaining increased attention in various industries, thanks to its water-absorbent qualities. It can form a gel after being hydrated and is used in gen electrophoresis. Polyacrylamide particles are referred to as ghost crystals. After being linked, these particles are used in manufacturing soft and transparent contact lenses. Additionally, polyacrylamide is also used as a suspending agent and a thickener in food products.
Polyacrylamide is also widely used to flocculate solids in liquid form. This application in highly used in water treatment process. Additionally, it is also necessary for screen printing and paper making. Polyacrylamide is also easy to supply for various industries. The polymer is easy to convert into a powdered and liquid form. Moreover, polyacrylamide is increasingly used in enhanced oil recovery. Polyacrylamide and its derivatives provide high viscosity and aqueous solutions to recover oil in a cost-efficient manner. Growing demand for applications such as enhanced oil recovery and facial surgeries, the polyacrylamide market is expected to witness robust growth.
Global Polyacrylamide Market: Notable Developments
Global Polyacrylamide Market: Key Trends
The global polyacrylamide market is witnessing an expansion, thanks to rising demand for food products, increased mining and oil discovery projects. Currently, the world oil supply is dependent on unstable regions. Hence, countries with large oil discovering potential such as the US are undertaking major initiatives to discover new fields. Growing economic collaborations between various governments is also leading to more oil discovery projects. Additionally, widespread availability of polyacrylamides, low costs, and growing manufacturing in Asia Pacific region are expected to drive significant growth in the near future. The global polyacrylamide market is also witnessing growing expansion due to growing demand for artificial facial surgeries. The aesthetic nature of these surgeries, high emphasis on social approval in emerging Asian markets, and high revenue margins are expected to drive the polyacrylamide market.
Global Polyacrylamide Market: Competitive Dynamics
The global polyacrylamide market is a highly competitive and fragmented landscape. The market is home to increasing number of large players, who are changing the competitive dynamics every day. Some key players in the polyacrylamide market are CNPC, SNF Group, Kemira, and BASF.
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