Bio-Based Products Drive The Polyacrylamide Market Growth At A Rate Of 9%
TBRC's polyacrylamide market report covers polyacrylamide market drivers, restraints, trends, and strategies that major players are using to grow in the industry.
LONDON, May 17, 2022 /PRNewswire/ -- During the forecast period, the ongoing research to develop bio-based polyacrylamide will contribute to the growth of the global polyacrylamide market. Solid-liquid separation procedures in potable water and wastewater treatment are aided by polymer flocculants. Bio-based flocculants have recently gotten a lot of interest because of their benefits over synthetic polymers and inorganic agents. Polysaccharides are a type of natural polymer that has several advantages, including biodegradability, nontoxicity, the ability to undergo various chemical changes, and widespread availability from renewable sources. These characteristics make polysaccharides useful for removing turbidity, COD (chemical oxygen demand), bacteria, and a variety of other contaminants from water. Such advantages of bio-based polyacrylamides over inorganic polymers-initiated research activities to develop bio-based polyacrylamides which will further propel the global polyacrylamide market growth.
The global polyacrylamide market size is expected to grow from $4.42 billion in 2021 to $4.83 billion in 2022 at a compound annual growth rate (CAGR) of 9.2%. Polyacrylamide market growth is expected to then see a CAGR of 7.1% to reach $6.37 billion in 2026.
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Regional Analysis
Asia Pacific was the largest region in the polyacrylamide market, accounting for 30.9% of the total in 2020. It was followed by the North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the polyacrylamide market will be the North America and Asia Pacific where growth will be at CAGRs of 8.7% and 8.0% respectively during 2020-2025. These will be followed by Africa and the Middle East, where the markets are expected to register CAGRs of 7.6% and 7.5% respectively.
Key Players And Their Strategies In The Polyacrylamide Industry
The global polyacrylamide market is highly concentrated, with small number of large players dominating the market. The top ten competitors in the market made up to 55.11% share of the total market in 2020. Major players in the market include Ashland Inc., BASF SE, SNF Floerger Group, Kemira Oyj, Solvay, Petro China, Bluwat Chemicals, Black Rose Industries Ltd., Anhui Jucheng Fine Chemicals Co. Ltd., and Xitao Polymer Co Ltd.
Companies operating in the polyacrylamide market are focusing on strategic partnerships to expand into newer markets, and to increase their market share. These partnerships help companies to expand into newer markets, access newer technologies, and increase revenues. For instance, in January 2019, Kemira, a Finland-based chemicals company signed an agreement to establish a joint venture called NewCo, with Yongsan Chemicals, a South Korea-based chemicals company. NewCo will produce dry polyacrylamide (DPAM), cationic monomer Q9 (AMD), and other chemicals that will be used for retention and drainage in packaging and paper production, as well as in wastewater treatment and sludge dewatering.
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