Polyacrylamide is a flocculant primarily used in water treatment processes for clarification and purification of water. It is an anionic polyelectrolyte copolymer of acrylamide subunits and other functional organic comonomers. Polyacrylamide finds wide application in various industries such as oil & gas, mining, agriculture, personal care, wastewater treatment, and paper manufacturing. It is used as a thickener, soil conditioner, flocculant, and coagulant. In the oil & gas industry, polyacrylamide is widely employed to increase oil production from oil wells through enhanced oil recovery techniques such as polymer flooding.

The global polyacrylamide market is estimated to be valued at US$ 5.87 Bn in 2024 and is expected to exhibit a CAGR of 61.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics
Increasing Application in Oil Recovery Processes: Polyacrylamide finds major application in polymer flooding processes undertaken for enhanced oil recovery from oil fields. Polymer flooding involves injecting a dilute solution of polyacrylamide into an oil reservoir to increase the viscosity of injected water or gas. This helps drive more oil out of the reservoir by improving the sweep efficiency. As conventional oil reserves deplete, there is growing focus on enhanced oil recovery techniques globally to boost production from mature oil fields. This is expected to significantly drive the demand for polyacrylamide over the forecast period.

Growing Wastewater Treatment Activities: Stringent regulatory standards regarding wastewater discharge have compelled industries and municipalities to invest heavily in advanced wastewater treatment technologies. Polyacrylamide acts as an effective flocculating agent and is widely used in clarification of industrial and municipal wastewater. It helps remove suspended solids and other impurities from wastewater. Rapid industrialization and urbanization in developing economies have augmented wastewater generation, thereby propelling the demand for polyacrylamide-based treatment chemicals.

SWOT Analysis

Strength: Polyacrylamide has strong water absorbing and retaining capabilities. It can absorb hundreds of times its own weight in water and retain it even under pressure. Polyacrylamide has high molecular weight which makes it a very effective flocculant. It is non-toxic and environmentally friendly material.

Weakness: Polyacrylamide has low degradation rate in the environment. Many polymers take years to fully degrade. Production of polyacrylamide requires toxic acrylamide monomer which is a potential health hazard.

Opportunity: Growing demand for water treatment chemicals from industries like oil & gas, mining, pulp & paper presents an opportunity. Increasing fresh water scarcity issues globally will boost polyacrylamide consumption in municipal water treatment plants. Expanding construction industry needs for soil stabilizers and demand for enhanced oil recovery methods also provide opportunities.

Threats: Stringent environment regulations over use of hazardous chemicals and toxicity of raw materials are threats. Fluctuating crude oil prices affect costs of polyacrylamide precursor chemicals. Development of alternative treatment technologies can replace polyacrylamide usage.

Key Takeaways

Global Polyacrylamide Market Demand is expected to witness high growth. The market size is projected to reach US$ 5.87 billion by 2024 growing at a CAGR of over 61% during the forecast period.

Rapid urbanization and rising industrial activities in Asia Pacific drive the demand for water treatment chemicals in the region making it the fastest growing as well as dominating regional market.

Key players operating in the polyacrylamide market are Cargill Inc., Nu-Tek Food Sciences LLC, Koninklijke DSM N.V., Montana Indusrie Holding A.G., Angel Yeast Co. Ltd., Tate & Lyle Plc, and Innophos Holding Inc. Cargill Inc. is a global leader in supply of industrial starches and other ingredients and nutrient systems. Nu-Tek Food Sciences LLC offers natural ingredients to food industry.

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