Sturdy rise in implementation of waste water treatment facility owing to increasing initiatives taken by government to condense wastewater coming from industrial & household sector will subsequently boost Polyacrylamide market size by 2024. This is attributed to persistent need to improve health standards to minimize disease causing agents from the environment, which are prone to cause several lethal diseases. Product possess excellent properties including non-toxic nature, high miscibility, etc. which makes it desirable to treat wastewater.
Polyacrylamide market in Asia Pacific size is foreseeable to attain USD 4.9 billion by 2024. Prevailing economy in the region due to growing population has resulted in significant rise in waste water coming from household & industrial sector which has compelled government & regulatory bodies to encourage waste water handling facilities. These trends are likely to propel demand for flocculants which in turn will have positive impact on the overall market size in the coming years.
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Uneven petroleum prices are likely to impede the overall polyacrylamide market size by 2024. Moreover, rising organic products demand along with poisonous product features is probable to deter market in the near future. However, plentiful opportunities from water treatment industry, paper making industry and petroleum industry shall generate ample business growth opportunities by 2024.
In 2016, petroleum segment was accounted for over 30% of the overall polyacrylamide market share in 2016. Rising product demand for heating, electricity generation, chemical synthesis, etc. is likely to generate promising gains for the overall market size by 2024. Moreover, the market size for water treatment which was valued close to USD 2 billion in 2016 is expected to show positive growth indicators by 2024. Stringent legislations imposed by government and firm need to improve health standards has been persuading industries to build water treatment facilities which will boost the global market size by 2024.
The overall market size was competitive in 2016 and major players accounted for over 40% of the global industry share. Major polyacrylamide market share contributors are
- Beijing Hengju Chemical
- Xitao Polymer
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In terms of revenue, cationic polyacrylamide market size is forecast to expand at a CAGR close to 10% by 2024. It is estimated to expand at a faster pace owing to rising application in sludge dewatering, EOR, water treatment, etc. High molecular weight and charge can produce several molecular chains in water which improves the overall absorption capacity of suspended particles and henceforth which makes it desirable as flocculant across water treatment plants. In terms of revenue, anionic market size is forecast to propel at a CAGR of over 9% in the near future. It is superior in performance for treating limy & dense water coming from metallurgical industry.
Propelling product demand to attain oil from reserves via enhanced oil recovery (EOR) technology owing to its outstanding gelatinous properties and capability to formulate cross links is probable to generate promising gains for the overall polyacrylamide market size over the projected time spell. Moreover, plentiful availability of unconventional reserves in China and the U.S. is expected to generate ample opportunities for the industry growth by 2024.
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