Published: Aug, 2019
Favourable mining activities can be a source of economic gain for regional territories. Rio Tinto Group was believed to operate the largest diamond mine in the world. However, the group announced the closure of its most lucrative mine in July, 2019. Analysts cited non-viability as a major reason behind the closure. This factor has sent ripples across the oil, gas, and mining industries, and several companies are looking to improve the quality of their operations. The quest of oil and gas companies to institute improved procedures has brought several intermediate chemicals under the radar of focus. Polyacrylamide is one such product that has garnered attention from oilfield operators who aim to increase the productivity and viability of rigs.
The global demand for polyacrylamide is expected to rise as the annual budget of oil companies increases. Miners have opened to the use of high-end chemical processes for increasing the fertility of mines. This is an important consideration for vendors looking to position polyacrylamide-based products in the market.
Fresh Investments in Polyacrylamide Market
Investments in the global polyacrylamide market have created lucrative opportunities for vendors. The European Investment Bank (EIB) extended its support toward the construction of a production facility for polyacrylamides in Dunkirk, France. Such moves shall lead to abundant availability of polyacrylamides across the region.
The global polyacrylamide market is projected to grow at a moderate CAGR of 6.3% over the period between 2017 and 2025, finds Transparency Market Research (TMR). The total value of this market is slated to touch US$7,657.9 mn by the end of 2025, rising up from a value of US$4,429.5 mn in 2016. The wide spectrum of end-use industries for polyacrylamide is responsible for such growth.
Application in Wastewater Treatment in Manufacturing Sector offers Big Headwinds
The industrial sector has come under the radar of scrutiny with regard to its environmental and corporate social responsibility. Some of the industries have exhibited commendable sense of responsibility in managing and treating wastes. This factor has given a thrust to market growth as wastewater treatment involves the use of polyacrylamide. Stipulation of industrial safety laws have also driven demand across this market.
Affluent Demand in Key End-Use Industries
Extraction of oil and gas has become a goldmine for national and regional territories. As oil companies plan to induct new technologies for drilling, fracturing, and flooding, the demand for polyacrylamide is projected to increase at a starry pace. Furthermore, increased usage of paints and coatings in the constructions industry has played an underhanded role in market growth.
Middle East Market to Stump other Regional Markets
The various regional segments in the global polyacrylamide market are: North America, the Middle East and Africa, Europe, Asia Pacific, and Latin America. There is little contention about the supremacy of the oil and gas sector in the Middle East. Oil-rich countries such as Saudi Arabia and the UAE are earnest about gaining economic leverage through their affluence in the oil and gas industry. Hence, the polyacrylamide market in the Middle East and Africa is slated to outrun the growth graph of other regional markets.
Two the leading vendors in the global polyacrylamide market are SNF Group and BASF. The former focuses on aligning with the cost limitations of the end users, and is providing high-quality polymers at affordable prices. Some other notable vendors in the global polyacrylamide market are Bio-Rad, Kemira Inc., and Ashland Inc.
The review is based on TMR’s report titled, “Polyacrylamides Market (Type - Anionic, Cationic, and Non-ionic; Form - Powder, Emulsion, and Gel; Application - Waste Water Treatment, Oil & Gas Extraction, Mining, Agriculture, Paper & Pulp, Paints & Coatings, Textiles, and Food) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025”.
The global polyacrylamide market is segmented based on:
- Waste Water Treatment
- Oil & Gas Extraction
- Paper & Pulp
- Paints & Coatings
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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