The Polyacrylamide Market is estimated to be valued at US$ 5.86 Bn in 2023 and is expected to exhibit a CAGR of 6.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Polyacrylamide is a water-soluble polymer compound. It has characteristics of flocculating and suspending solids, which make it widely used in various industries such as water treatment, papermaking, mining, petroleum extraction. It can effectively treat municipal sewage, industrial wastewater, pulp and paper wastewater, and oilfield wastewater.

Market key trends:

The increasing demand for water treatment applications is estimated to boost the growth of polyacrylamide market during the forecast period. Polyacrylamide is commonly used in the treatment of sewage and wastewater by flocculating suspended solid particles. It is an important additive for clarification in the mining, pulp and paper industries. The growth in mining and industrial activities across the globe has increased the demand for wastewater treatment which in turn is accelerating the polyacrylamide market growth. In addition, rising awareness about water conservation is also fueling the demand for efficient water treatment solutions, thereby supporting the market growth of polyacrylamide over the forecast period.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as high capital requirement for R&D, manufacturing, and marketing acts as a barrier. However, the threat can increase with technological advancements reducing entry barriers.

Bargaining power of buyers: The bargaining power of buyers is high due to the presence of numerous manufacturers supplying polyacrylamide. Buyers can negotiate on price and switch between suppliers easily.

Bargaining power of suppliers: The bargaining power of suppliers is moderate given that key raw materials like acrylamide and acrylic acid have few substitutes and suppliers. However, easy availability of raw materials from multiple suppliers balances their influence.

Threat of new substitutes: The threat of new substitutes is low as polyacrylamide has well-established applications and substitutes are yet to prove their efficacy significantly.

Competitive rivalry: The market is moderately competitive with key players differentiating based on product quality and application development.

SWOT Analysis

Strengths: High functional performance, low toxicity, extensive applications in industries like wastewater treatment, oil recovery.

Weaknesses: Regulatory issues regarding toxicity of raw materials, price fluctuations of raw materials.

Opportunities: Growing need for wastewater treatment, EOR techniques, research on bio-based alternatives.

Threats: Stringent environmental regulations, strong dependence on oil & gas industry cycles, potential substitute technologies.

Key Takeaways

The global Polyacrylamide Market Size is expected to witness high growth, exhibiting CAGR of 6.5% over the forecast period, due to increasing demand from wastewater treatment and EOR applications. Asia Pacific dominates the market and is projected to grow at the fastest rate due to the presence of large wastewater treatment plants and expanding oil & gas industry in China and India.

Regional analysis:

Asia Pacific accounts for over 40% of the global polyacrylamide market and is projected to witness the highest CAGR during the forecast period. Key factors propelling market growth include the rising need for wastewater treatment in major economies like China and India. Stringent environmental regulations necessitate the adoption of advanced wastewater technologies using polyacrylamide across the region.

Key players operating in the polyacrylamide market are Anhui Jucheng Fine Chemical Co, Ltd. (CJCC), Ashland Inc., BASF SE, Kemira, SNF Group, Black Rose Industries Ltd., Shandong Polymer Bio-Chemicals Co., Ltd., Xitao Polymer Co., Ltd., ZL EOR Chemicals Ltd., Dongying Kechuang Biochemical Industrial Co., Ltd. Key players are focusing on expanding their production capacities and diversifying the application portfolio to strengthen market position.

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