Acrylamide Market Forecasts to 2030 – Global Analysis By Product Type (Acrylamide Crystals, Acrylamide Water Solution and Other Product Types), End User, and By Geography

Acrylamide Market Forecasts to 2030 – Global Analysis By Product Type (Acrylamide Crystals, Acrylamide Water Solution and Other Product Types), End User, and By Geography

According to Stratistics MRC, the Global Acrylamide Market is accounted for $3.7 billion in 2023 and is expected to reach $5.5 billion by 2030 growing at a CAGR of 6.0% during the forecast period. Acrylamide is a chemical compound formed naturally during high-temperature cooking processes, particularly in starchy foods like potatoes and grains. It's generated through the Maillard reaction, where sugars and amino acids react under heat. Acrylamide has raised health concerns due to its potential carcinogenic effects in animal studies, although its impact on humans is still being researched. It can also be present in industrial settings, such as in the production of plastics and cosmetics. Regulatory agencies recommend minimizing exposure to acrylamide by adopting healthier cooking methods and consuming a balanced diet.

According to estimates by the Central Public Health and Environmental Engineering Organization (CPHEEO), approximately 70-80% of the total water supplied for domestic use in India is generated as wastewater.

Market Dynamics:

Driver:

Urbanization and infrastructure development

As urban populations grow, there is an increased need for infrastructure such as water treatment plants, sewage systems, and wastewater treatment facilities to meet the rising demand for clean water and sanitation services. Furthermore, the expansion of urban infrastructure requires efficient drilling operations for construction projects, such as building foundations and underground utilities which are propelling this market expansion.

Restraint:

High raw material prices

The unpredictability of raw material prices makes it challenging for manufacturers to plan and budget effectively, leading to operational uncertainties and financial risks. High raw material prices can deter new entrants from entering the acrylamide market and discourage existing manufacturers from expanding their production capacities. In addition, the volatility in raw material prices can lead to increased production costs for acrylamide manufacturers, eroding profit margins and hindering market growth.

Opportunity:

Technological advancements

Ongoing research and development efforts lead to the discovery of novel manufacturing processes, formulations, and applications for acrylamide and its derivatives. These innovations enhance water purification processes, improve treatment efficiency, and reduce energy consumption and waste generation. Furthermore, these advancements result in products with improved performance characteristics, environmental sustainability, and cost-effectiveness, thus expanding their adoption and market reach.

Threat:

Impacts on health

Epidemiological studies have linked acrylamide exposure to an increased risk of certain cancers, particularly in individuals with a high dietary intake of acrylamide-containing foods. Manufacturers are faced with the challenge of ensuring compliance with stringent regulations and addressing consumer concerns about product safety. Moreover, regulatory agencies worldwide are implementing measures to limit acrylamide levels in food products and industrial processes, further restricting market growth.

Covid-19 Impact

The COVID-19 pandemic has had several negative impacts on the acrylamide market. Many manufacturing facilities were forced to shut down or operate at reduced capacity, leading to decreased production of acrylamide and its derivatives. Furthermore, the pandemic-induced economic downturn has resulted in reduced consumer spending and demand for goods across various industries. Moreover, this decrease in demand has led to excess inventory and reduced orders from manufacturers, further dampening market growth.

The acrylamide crystals segment is expected to be the largest during the forecast period

The acrylamide crystals segment is estimated to hold the largest share, due to the increasing demand for clean water, growing exploration activities in the oil and gas sector, and the expansion of mining operations globally. They find applications in the production of polyacrylamide, a polymer with diverse uses in industries ranging from wastewater treatment to paper manufacturing. Additionally, it is influenced by consumer awareness of health concerns associated with acrylamide exposure in food products, which drives this segment’s growth.

The paper making segment is expected to have the highest CAGR during the forecast period

The paper making segment is anticipated to have highest CAGR during the forecast period due to the growing consumption of paper and paper-based products globally, particularly in industries such as packaging, printing, and hygiene products. Additionally, the emphasis on sustainability and environmental regulations has led to the adoption of polyacrylamide-based solutions that enable paper mills to reduce water usage, energy consumption, and waste generation, which are propelling this segment’s expansion.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period owing to both production and consumption. Countries like China, India, Japan, South Korea, and Taiwan are major contributors to the market dynamics in this region. Additionally, the region's expanding population and rising disposable incomes have fueled the demand for consumer goods, including paper products, cosmetics, and processed foods, which further drives the consumption of acrylamide and its derivatives.

Region with highest CAGR:

Europe is expected to witness highest CAGR over the projection period, owing to diverse industrial applications and stringent regulations governing its use. The papermaking, mining, and petroleum industries in Europe also contribute to the demand for acrylamide-based products. Furthermore, the European region has a significant presence in the food and beverage industry, where acrylamide is a concern due to its formation in certain heat-treated foods, thereby boosting this region’s growth.

Key players in the market

Some of the key players in the Acrylamide Market include Ecolab Inc., BASF SE, Plastic Extrusion Technologies, Mitsubishi Chemical Corporation, Xitao Polymer Co., Ltd., Ashland Global Holdings Inc., SNF Group, Solvay S.A., Dow Chemical Company and Kemira Oyj.

Key Developments:

In February 2024, INEOS Automotive and BASF’s Coatings division have signed an agreement on a global automotive refinish body and paint development.

In December 2023, The Mitsubishi Chemical Group announced that its plant-derived compostable polymer BioPBS™ acquired certification as a marine biodegradable biomass plastic under the marine biodegradable plastic identification and labelling system established by the Japan BioPlastics Association (JBPA).

In May 2023, Dowand New Energy Blue announced a long-term supply agreement in North America in which New Energy Blue will create bio-based ethylene from renewable agricultural residues.

Product Types Covered:
• Acrylamide Crystals
• Acrylamide Water Solution
• Other Product Types

End Users Covered:
• Cosmetics & Personal Care
• Food & Beverage
• Mining
• Oil & Gas
• Pharmaceuticals
• Pulp
• Textile
• Water Treatment
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements