Global Market Insights, Inc. adds a new Global Polyacrylamide Market Research Report for forecast period that shows the growth of the market is rising at a steady CAGR from 2017 to 2024.
According to estimates, Global polyacrylamide industry is projected to hold a massive valuation of USD 10.7 billion by 2024, with a CAGR estimation of 8.5% over 2017-2024. 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.
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Treatment of waste water and sewage is closely linked with environmental sustainability, the prime factor stimulating polyacrylamide market dynamics lately. Over the past few years, there has been a substantial increase in industrial and municipal effluents including heavy metals, synthetic surfactants, organic compounds, and other pollutants, subject to the rapid industrialization of the developing and developed nations. In a bid to respond to this detrimental environmental call, global wastewater treatment industry is gaining a renewed attention, leaving a subsequent impact on polyacrylamide market demand. With regards to water treatment application, polyacrylamide industry is expected to grow at an annual rate of 8% over the coming seven years.
Swift depletion of natural energy resources along with strong consumer awareness across APAC belt has resulted in the installation of a large number of wastewater treatment units, especially in the industrial and municipal sectors. The petroleum industry is also readily adopting polyacrylamide for the recovery of crude oil that is beneath the earth surface. The increasing energy demand across myriad end use domains including transportation, domestic, power sector, etc., have significantly increased the exploration and production activities of this crude oil, which in a way has opened lucrative business opportunities for polyacrylamide industry. As per estimates, the polyacrylamide market size from petroleum application is likely to record an upstream with 8.5% CAGR over 2017-2024.
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A major chunk of the product landscape of polyacrylamide market is procured by anionic polyacrylamide. Given the product’s extensive utilization in waste water treatment, paper making additives, and oil recovery, anionic polyacrylamide accounted for the maximum share of the overall industry in 2016. Industrial waste water from metal industry, steel plant is coarse, concentrated, and alkaline in nature, and are are best treated with this category of polyacrylamide.
Furthermore, anionic derivatives are also gaining a traction in the energy sector where crude oil drilling process is prevalent. As per reliable statistics, anionic polyacrylamide market will witness a steady gain of 7% CAGR over 2017-2024. Nonionic polyacrylamide market will also witness an appreciable growth over the forecast span, with an expected CAG of 8.5%, driven by their wide usage in treatment of acidic waste water which comes as a common effluent from food processing, mining & coal, and paper making industries.
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Considering the geographical trends, North America has proved to be another outpacing region actively partaking in the global polyacrylamide market. The regional market, in 2016, held a valuation of USD 1 billion. In this respect, shale oil boom, particularly in the U.S., has immensely influenced the market dynamics. In addition, mandatory roll outs formulated by EPA regarding energy sustainability and security are also providing a significant impetus to the regional polyacrylamide industry share.
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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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