Global Polyacrylamide Market could be worth USD 6.91 Billion by 2019 : Transparency Market Research
Albany, NY (PRWEB) February 17, 2015 -- Polyacrylamide Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019, a report on the global polyacrylamide market, published by Transparency Market Research, provides significant inputs about the global state of the current market of the global polyacrylamide industry along with a forecast about the opportunities, drivers and restraints in the market during the years 2013 and 2019, the forecast period of the report.
The report states that the global polyacrylamide market observed demands worth USD 3.95 billion for its various products in 2012. By observing growth at a CAGR of 8.4% from 2013 to 2019, this industry could amass market value worth USD 6.91 billion by 2019. In terms of volume, the demand for various products from this industry was nearly 1,337.5 kilo tons in 2012. By growing at a CAGR of 7.4% during the forecast period, this figure could cross 2,204.5 kilo tons by 2019.
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Polyacrylamide is a water-soluble polymer made from acrylamide molecules. It is a synthetic chemical that is low-cost, environmentally neutral and proven to safely degrade in the form of organic molecules after some weeks of application when used in soil for reducing soil loss. It can be tailored to fit several application areas.
It is highly water-absorbent and converts to a soft gel when hydrated. The gel form of PAM is used in applications such as electrophoresis and for manufacturing contact lenses. In its powdered form, it is also used as a suspender and thickener. Quite recently, it has also found use as subdermal filler for facial surgeries.
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Key raw materials used for manufacturing polyacrylamide include acrylamide copolymers and catalysts.
Factors such as the use of polyacrylamide in wastewater treatment, soil stabilization and enhanced oil recovery, added with the rapid economic development in the region of Asia Pacific are expected keep driving this billion-dollar industry in the future as well.
The unpredictable price of raw materials is expected to pose hindrances to the growth of this market to some extent during the forecast period.
Product-wise, the segments of anionic and cationic polyacrylamide garnered nearly 70% revenues for this market in 2012. Use of polyacrylamide in the petroleum industry is expected to drive this industry in the most positive manner during the forecast period, adds the report. Similar rise in demand is expected from the mining and gas extraction industries. Polyacrylamide is used in the oil recovery industry owing to its benefits in reducing friction.
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Asia Pacific region, as for many other industries, poses huge growth opportunities for this industry as well. In 2012, demands for various polyacrylamide products from this region had a market share of 49% of the total global demand. This was followed by Europe and North America. The report states that the region of Asia Pacific could continue its leading market position, both in terms of consumption as well as demand, during the forecast period.
The leading market position of this region could be contributed to its improving economic position, cheap availability of raw materials, land, equipment and abundant skilled labor.
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