Polyacrylamide Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

Polyacrylamide Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The Polyacrylamide Market size is expected to grow from 2.17 million tons in 2023 to 2.79 million tons by 2028, at a CAGR of 5.15% during the forecast period (2023-2028).

One of the major factors driving the market studied is the growing use of polyacrylamide in the oil and gasindustry for enhanced oil recovery (EOR). However, stringent regulations for use, due to carcinogenic nature of acrylamide monomer, is likely to restrain the market.

Key Highlights

• Growing demand for anionic polyacrylamide as a flocculant is also likely to boost the demand for polyacrylamide during the forecast period.
• Development of bio-based polyacrylamide is likely to act as an opportunity for the market growth in future.
• Asia-Pacific dominated the polyacrylamide market, owing to the rapidly growing water treatment industry in India and China.

Polyacrylamide Market Trends

Water Treatment Segment to Dominate the Market

• One of the major applications of polyacrylamide is as flocculants or coagulants for treating municipal and industrial wastewater. It causes suspended particles to aggregate and precipitate when added to treat water.
• Anionic polyacrylamide is used extensively in water treatment and sludge de-watering. For industrial sewage treatment, it is widely used in iron and steel plants, wastewater plants, electroplating wastewater plants, metallurgical wastewater plants, and coal-washing wastewater plants. Due to the significantly high flocculation efficiency, anionic polyacrylamide is widely used in water treatment.
• Rapid industrialization and urbanization in Asia-Pacific propelled the demand for polyacrylamide due to rising wastewater levels and the pressing need to conserve the depleting natural water resources.
• Wastewater treatment is an essential process in the chemical industry. There are two main types of wastes found in the chemical industry, namely organic and inorganic matter, in varying degrees of concentration. These are removed using different technologies, such as reverse osmosis (RO), ion exchange, membrane technology, etc. ​
• According to a report by BASF SE, global chemical production (excluding pharmaceuticals) is expected to expand by 2.0% in 2023. In 2022, it was 2.2%.
• Germany contains more than five billion cubic meters of sewage water generated yearly by private households, industry, and trade. Germany includes Europe's largest industrial wastewater treatment market, with almost 3,000 treatment plants serving around 12,000 discharging companies. Over 920 million cubic meters of industrial wastewater are treated annually in the country before being discharged into the environment. Additionally, according to the Federal Ministry, about 99% of the people in Germany can directly access wastewater treatment plants.
• Hence, the water treatment segment will continue dominating the market during the forecast period.

China to Dominate the Asia-Pacific Market

• China is one of the major countries in the Asia-Pacific, with ample construction activities being supported by the growing economy.
• One of the most severe environmental challenges China is currently facing is water pollution. According to the National Development and Reform Commission (NDRC) statistics, over 32% of China’s seven major river systems and around 29% of China’s major basins did not meet the prevailing water quality standards (grade III and below).
• It was due to the long history of unfettered emission of untreated/under-treated industrial, agricultural, and domestic wastewater into various water bodies.
• Moreover, the country is adding new plants and projects, expected to boost the demand for water treatment chemicals, thereby increasing the demand for flocculants.
• In the oil and gas industry, polyacrylamide usage is comparatively limited compared to other countries. It is due to the country's limited enhanced oil recovery and fracking activities. However, Chinese energy giants are making progress in unlocking natural gas from shale rock formations.
• China is a potential region in terms of shale gas reserves. The China National Petroleum Corporation, one of the global oil and gas industry giants, is currently emphasizing the exploration and production of shale gas in the country.
• The Tarim Oilfield, controlled by China National Petroleum Corporation (CNPC), China's largest oil and gas producer, saw its annual oil and gas production reach a record high of 33.1 million tons in 2022. The oilfield will generate 7.36 million tons of crude oil and 32.3 billion cubic meters of natural gas in 2022.
• Hence, for the reasons above, China will likely drive market growth in the region during the forecast period.

Polyacrylamide Industry Overview

The polyacrylamide market is highly consolidated, with the major players accounting for a major market share. Some of the major companies in the market include SNF Group, BASF SE, Kemira, Solenis, and Solvay, among others.

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• The market estimate (ME) sheet in Excel format
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