ALBANY, New York, February 29, 2016 /PRNewswire/ --
According to the research report, the global polyacrylamide market was valued at US$4.09 billion in 2014 and is anticipated to reach US$6.68 billion by 2023, expanding at a CAGR of 5.6% between 2015 and 2023.
Polyacrylamide is a water-soluble polymer formed by the polymerization of acrylamide. It is a synthetic chemical that can be modified for usage in a broad range of applications. Polyacrylamide is commercially available in variants such as cationic, anionic, non-ionic, and others (including homopolymers and copolymers). Polyacrylamide is used to coagulate or flocculate solids in a liquid. This makes them useful in water treatment applications. Polyacrylamide increases the viscosity of water and is widely used in petroleum applications across the world to enhance oil recovery. It is employed as a binder for pulp fibers in the paper making industry. Furthermore, it is used as an additive for wastewater treatment. Polyacrylamide is also employed as soil conditioner in agricultural applications. Other applications of polyacrylamide include mining, ore processing, food additives, textiles manufacturing, and gel electrophoresis.
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Increasing awareness about wastewater treatment and the subsequent growth of coagulants & flocculants market is estimated to drive the polyacrylamide market in the near future. Ionic properties of polyacrylamide make it an ideal coagulating and flocculating agent. Polyacrylamide is used for primary sewage treatment as a solid-liquid separator in municipal wastewater treatment. Rising awareness towards wastewater treatment and implementation of stringent regulations related to wastewater from industrial and municipal sources are anticipated to drive the polyacrylamide market in the near future. Rapid growth in shale gas and wet shale gas production is another factor propelling the market. Polyacrylamide is used as friction reducer/drag reducer to decrease frictional pressure losses. Increase in investment in unconventional resources such as shale gas is projected to further drive the demand for polyacrylamide used in oil & gas applications. Growth in mining activities is likely to be another key factor augmenting the global polyacrylamide market. Polyacrylamide is used as a flocculating agent to treat wastewater generated during mining activities and to separate minerals from ores. Recent expansion in the mining sector is expected to propel the demand for polyacrylamide.
Anionic polyacrylamide was the major product type, accounting for over 45% share of the global polyacrylamide market in 2014. Anionic polyacrylamide is anticipated to continue its dominance in the polyacrylamide market during the forecast period due to its rising demand in a wide range of applications. Water treatment was the major application, accounting for more than 50% volume share of the global polyacrylamide market in 2014. Increase in awareness about industrial and municipal wastewater treatment is estimated to propel the demand for polyacrylamide during the forecast period.
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Asia Pacific dominated the global polyacrylamide market with more than 55% share in terms of volume in 2014. This trend is projected to continue during the forecast period, led by rising demand for polyacrylamide in China and countries in the ASEAN region.
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Major players operating in the polyacrylamide market include SNF, PetroChina Company Limited, Kemira and BASF SE.
This report segments the global polyacrylamide market as follows:
Polyacrylamide Market - Product Segment Analysis
- Non-ionic Polyacrylamide
- Cationic Polyacrylamide
- Anionic Polyacrylamide
- Others (Including Homopolymers, Copolymers, etc.)
Polyacrylamide Market - Application Analysis
- Water Treatment
- Oil and Gas
- Others (Including Mining, Biomedical, etc.)
Polyacrylamide Market - Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East & Africa (MEA)
- South Africa
- Rest of MEA
Browse In detail Regional Analysis: http://www.europlat.org/global-polyacrylamide-market-to-reach-us6-68-bn-by-2023-transparency-market-research.htm
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