Key Highlights of Global Polyacrylamide Market
- The global Polyacrylamide market was valued at US$ 4,976.2 Mn in 2018 and is anticipated to expand at a CAGR of 6.2% during the forecast period
- Polyacrylamide are used for various applications based upon the type of product and form of polyacrylamide product available.
- Low price and high demand for anionic polyacrylamide in water treatment and food recycling applications is projected to boost the segment share across the globe. Non-ionic polyacrylamide is primarily used in the mining industry.
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Key Drivers of Global Polyacrylamide Market
- A significant rise in the demand for energy has boosted the exploration, production, and recovery of oil and petroleum on a large scale.
- Asia Pacific is witnessing high demand for oil due to rising consumption in countries such as China, India, Japan, South Korea, and Indonesia. Increasing demand has put pressure on these countries to meet the high demand in the near future. This has led to a need to increase exploration activities in the region, which is expected to drive the polyacrylamide market during the forecast period.
- Polyacrylamide is extensively employed in the oil industry to enhance oil recovery and is prominently utilized as a drilling and fracturing fluid. The petroleum application segment is anticipated to expand due to the wide range of application of polyacrylamide.
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Expansion & Diversification can Provide Immense Growth Opportunities for Global Polyacrylamide Manufacturers
- Manufacturers of polyacrylamide strive to focus on widening their distribution channels to penetrate the market, considering the intense rivalry. Companies are expected to strengthen their sales force in China, India, ASEAN, and the U.S. due to the considerable expansion of the waste water treatment and oil & gas industries in these regions
- Manufacturers of polyacrylamide are focusing on expanding their production capacity to penetrate into new markets. Some companies have low market presence in regions that provide lucrative market opportunities. Such companies are focusing on expanding their footprint in these regions. Manufacturers also strive to develop technology and consolidate distribution channels in order to penetrate into new markets.
- Diversification can provide immense growth opportunities to manufacturers of polyacrylamides. Existing manufacturers can focus on the acquisition of smaller companies to integrate their operations. Backward integration can act as a major opportunity for market players. Integrated operations and technological developments to produce products are viewed as key factors for diversification. Low dependence on raw material suppliers provides integrated companies with an advantage over other players
Fragmented Nature of Global Polyacrylamide Market
- The global polyacrylamide market is dominated by large-scale companies operating around the world. Key players such BASF SE, Kemira Oyj, SNF Group, and Bio-Rad Laboratories Inc. significantly dominate the market.
- SNF Group was a major player, holding majority of the share in the polyacrylamide market in 2018. The company’s success is primarily attributable to its R&D and innovation.
- BASF SE held a market share of more than 9% in 2018. The company has large number of products under the brand name Percol®. It is also planning to expand its polyacrylamide plant based in China.
Global Polyacrylamide Market: Research Scope
Global Polyacrylamide Market, by Type
Global Polyacrylamide Market, by Form
Global Polyacrylamide Market, by Application
- Waste Water Treatment
- Oil & Gas Extraction
- Paper & Pulp
- Paints & Coatings
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