Polyacrylamide Market to achieve 8.5% growth up to 2024
Date: 2018-12-10   Author: Rahul Varpe  Category: #market

Polyacrylamide Market to achieve 8.5% growth up to 2024

Global Market Insights, Inc. adds a new Polyacrylamide Market research report for the period of 2018-2024 focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.

Polyacrylamide Market size is expected to surpass USD 10.7 billion. Increasing adoption of water treatment unit to treat waste water released from industrial and household sector has been a major factor propelling the product demand during the forecast period. It has been principally involved as a flocculant in the industrial sector due to its high mixing ability, non-poisonous nature, water solubility, etc. Ministries and regulatory bodies have formulated stringent laws to protect environment and practice sustainable business development in the near future. These trends are probable to continue which will have a positive influence on the polyacrylamide market size by 2024.

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Swiftly exhausting natural resources and strong awareness among consumers primarily in the Asia Pacific has been playing an important role in prevailing water treatment units in the industrial and household sector. Furthermore, product finds wide-ranging applications in the upstream petroleum industry for attaining crude oil present beneath the earth surface. This is credited to its versatile features including high thickness, gel formation and henceforth making it preferable in the enhanced oil recovery (EOR) process. A major chunk of over 600 tcf (trillion cubic feet) of proven and attainable unconventional gas reserves are present in the U.S. which are probable to be recovered in the near future which will drive polyacrylamide market size by 2024.

Unstable feedstock prices as they are obtained from petroleum is likely to obstruct the polyacrylamide market size by 2024. Rising demand for bio-based products along with cancer-causing product characteristics is likely to hamper polyacrylamide market size over the coming years.

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Polyacrylamide market size for water treatment is projected to rise with more than 8% CAGR by 2024. Escalating population primarily in the emerging economies has been increasing waste water coming from industrial and household sector. Improving laws imposed by ministries and regulators in the Asia Pacific has compelled industries to adopt water treatment units which will push product demand and will help attain prominent gains over the projected timeframe.

North America polyacrylamide market size is predictable to reach over USD 2.1 billion by 2024. This is owing to the prevailing unconventional gas resources in the U.S. which will stimulate product demand for its applications in the EOR technology to attain crude oil. In addition, strong regulatory framework against factors having hazardous environment impact to maintain sustainable business development will further drive product demand to be used across waste water treatment plants which will drive the polyacrylamide market size by 2024.

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Key industry share contributors of polyacrylamide market size are PetroChina Company, Kemira Oyj, BASF, Mitsubishi Rayon, Ashland, Yixing Bluwat Chemicals, Xitao Polymer and Beijing Hengju Chemical Group.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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