Global Market Insights, Inc. adds a new Global Water Soluble Polymer Market Research Report for forecast period that shows the growth of the market is rising at a steady CAGR from 2017 to 2024. Water Soluble Polymer Market size will exceed USD 38 billion by 2024. High growth in consumption in the water treatment industry will augment the demand for these products throughout the forecast years. The rising demand from oil & gas industry for reducing the hydrate formation in the oil pipelines will further complement the global water soluble polymer market size during the forecast timeframe.
These polymers are used in various industry verticals such as pharmaceuticals, chemicals, mining, F&B and textiles. High growth in consumption of these products across all these industry verticals will drive their demand, and will eventually drive the demand throughout the forecast period. In further, the rising demand for wastewater treatment in the developing nations of Asia Pacific and Latin America will give a significant boost to water soluble polymer market size.
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Polyacrylamide & copolymers held the largest water soluble polymer market share in 2016. The product is primarily used for its excellent thermal stability, solubility, high miscibility, and non-toxicity. They are mainly utilized in treating wastewater, where there are more suspended solid particles. This segment is projected to grow at a moderate CAGR due to its eco-friendly features.
Water treatment is likely to grow at a CAGR close to 6% by the end of 2024. The market growth will be majorly attributed to being more useful in reducing the toxic effects of the industrial effluents, further helping in the reduction of waste and further assist in achieving environmental sustainability. Growing concerns against water-pollution have led to the devising of stricter laws and regulations to take the initiative against wastewater generation, which will show a positive impact on the water soluble polymer market share by the end of 2024.
In 2016, the Asia Pacific regional market size was close to USD 9 billion. Substantial market share along with a decent growth rate by 2024 will be due to rapid industrialization in China and India, and massive wastewater generation. Furthermore, strong growth indicators in regional F&B, pharmaceutical and oil & gas will create a remarkable contribution to the water soluble polymer market growth in the coming years.
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Tagged as one of the most iconic breakthroughs water soluble polymer market has witnessed this year, the launch of Butenediol Vinyl Alcohol Co-polymer (BVOH), a high-performance water-soluble support material can be attributed to the efforts of the R&D association at Verbatim – one of prominent subsidiaries of Mitsubishi Chemical Holdings Group. The firm’s commitment toward developing material for 3D printing has inadvertently caused a stir in the product landscape of water soluble polymer industry.
According to Verbatim, BVOH enables successful printing of complex objects with 3D printers and is endowed with dual extrusion and quick dissolve time as well. Verbatim views BVOH as a major disruption in the 3D printing arena that would enable designers to swiftly realize 3D models, which would, by extension, increase the demand for BVOH. In effect, this would have a perpetual impact on the commercialization scope of water soluble polymer market in the years to come.
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Besides water treatment, the application spectrum of water soluble polymer industry is inclusive of papermaking, detergents & household products, and petroleum. Numerous companies have been undertaking appreciable efforts to ensure the development of a unique, flexible product portfolio that would have a massive impact on the revenue graph of this business vertical in addition to supporting environmental causes. Endorsed by a favorable regulatory landscape, water soluble polymer market size is likely to be pegged at a valuation exceeding USD 38 billion by the end of the year 2024.
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