Key Highlights of Global Polyacrylamide Market
· Theglobal Polyacrylamide market was valuedat US$ 4,976.2 Mn in 2018 and is anticipatedto expand at a CAGR of 6.2% during the forecast period
· Polyacrylamideare used for various applications based upon the type of product and form ofpolyacrylamide product available.
· Low priceand high demand for anionic polyacrylamide in water treatment and foodrecycling applications is projected to boost the segment share across theglobe. Non-ionic polyacrylamide is primarily used in the mining industry.
Key Drivers of Global Polyacrylamide Market
· Asignificant rise in the demand for energy has boosted the exploration,production, and recovery of oil and petroleum on a large scale.
· AsiaPacific is witnessing high demand for oil due to rising consumption incountries such as China, India, Japan, South Korea, and Indonesia. Increasingdemand has put pressure on these countries to meet the high demand in the nearfuture. This has led to a need to increase exploration activities in theregion, which is expected to drive the polyacrylamide market during theforecast period.
· Polyacrylamideis extensively employed in the oil industry to enhance oil recovery and isprominently utilized as a drilling and fracturing fluid. The petroleumapplication segment is anticipated to expand due to the wide range ofapplication of polyacrylamide.
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Expansion & Diversification can Provide ImmenseGrowth Opportunities for Global Polyacrylamide Manufacturers
· Manufacturersof polyacrylamide strive to focus on widening their distribution channels topenetrate the market, considering the intense rivalry. Companies are expectedto strengthen their sales force in China, India, ASEAN, and the U.S. due to theconsiderable expansion of the waste water treatment and oil & gasindustries in these regions
· Manufacturersof polyacrylamide are focusing on expanding their production capacity topenetrate into new markets. Some companies have low market presence in regionsthat provide lucrative market opportunities. Such companies are focusing onexpanding their footprint in these regions. Manufacturers also strive todevelop technology and consolidate distribution channels in order to penetrateinto new markets.
· Diversificationcan provide immense growth opportunities to manufacturers of polyacrylamides.Existing manufacturers can focus on the acquisition of smaller companies tointegrate their operations. Backward integration can act as a major opportunityfor market players. Integrated operations and technological developments toproduce products are viewed as key factors for diversification. Low dependenceon raw material suppliers provides integrated companies with an advantage overother players
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Negative Health Issues Pertaining to Polyacrylamideto Hamper Global Market
· Environmentaland health concerns related to polyacrylamide, when used for various applications,are the major factors hampering the polyacrylamide market. Polyacrylamide is apolymer of acrylamide. Acrylamide is a synthetic chemical which has beendetected for causing neurological damage and cancer, when in contact. Theproduct has been restricted in many countries especially for usage in food andfood-related applications, due to its carcinogenic nature.
· Polyacrylamide,as a product, is a non-toxic material. However, liquid and powder forms ofpolyacrylamide have been known to cause irritation to the eyes and skin, whenin contact.
· In theU.S., up to 500 ppm acrylamide in polyacrylamide preparations is acceptable forusage in agriculture or water treatment. In the U.K., a batch of polyacrylamideshould not contain more than 0.025% of free acrylamidemonomer, based on the active ingredient content.
· Exposureto polyacrylamide takes place through acquaintance to cooked foods and tobaccosmoke. The negative health effects pertaining to this exposure is projected tobe a major restraining factor for the global polyacrylamide market.
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Asia Pacific Dominates Global Polyacrylamide Market
· AsiaPacific is a prominent region of the global polyacrylamides market. It held amajor share of the global market in 2018. The polyacrylamide market in AsiaPacific is anticipated to expand at a rapid pace during the forecast period dueto the rise in population and awareness for waste water treatment in theregion.
· Demandfor polyacrylamide has been increasing in China and India, which is estimatedto boost the market in the region. In addition, China is one of the majormanufacturer and supplier of polyacrylamide across the globe since large numberof local manufacturers are operating in the region.
· Rate ofurbanization in China has soared from 36% to 53% from 2000 to 2012 andis anticipated surpass 60% by 2020. Thepolyacrylamide market in China is likely to be lucrative during the forecastperiod.
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Fragmented Natureof Global Polyacrylamide Market
· Theglobal polyacrylamide market is dominated by large-scale companies operatingaround the world. Key players such BASF SE, Kemira Oyj, SNF Group, andBio-Rad Laboratories Inc. significantly dominate the market.
· SNF Groupwas a major player, holding majority of the share in the polyacrylamide marketin 2018. The company’s success is primarily attributable to itsR&D and innovation.
· BASF SEheld a market share of more than 9% in 2018. Thecompany has large number of products under the brand name Percol®. It is alsoplanning to expand its polyacrylamide plant based in China.
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