Acrylamide Market Size Worth $6.50Bn, Globally, by 2028 at 6.2% CAGR - Exclusive Report by The Insight Partners

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Mar 15, 2022, 07:30 ET

The Acrylamide Market Size, Growth driven by the rise in demand for wastewater treatment and the growing chemicals & materials industry across the world. However, health hazards associated with the use of acrylamide are expected to restrict the market growth.

NEW YORK, March 15, 2022 /PRNewswire/ -- The Insight Partners published latest research study on "Acrylamide Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Acrylamide Water Solution and Acrylamide Crystals) and Application (Water and Wastewater Treatment, Enhanced Oil Recovery, Cosmetics, Paper Manufacturing, Chemical Intermediates, Textiles, and Others)", the global acrylamide market is expected to grow from $4.25 Bn in 2021 to $6.50 Bn by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.

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Report Coverage	Details
Market Size Value in	US$ 4,254.16 Million in 2021
Market Size Value by	US$ 6,500.22 Million by 2028
Growth rate	CAGR of 6.2% from 2021 to 2028
Forecast Period	2021-2028
Base Year	2021
No. of Pages	146
No. Tables	56
No. of Charts & Figures	73
Historical data available	Yes
Segments covered	Product Type, and Application
Regional scope	North America; Europe; Asia Pacific; Latin America; MEA
Country scope	US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Acrylamide Market: Competition Landscape and Key Developments

Ashland Global Holding Inc.; SNF; Kemira OYJ; BASF SE; EMCO Dyestuff; Mitsui Chemicals Global, Pvt. Ltd.; Ineos AG; Solvay; Nuoer Group; and Black Rose Industries Ltd.; are the few key players operating in the acrylamide market. Leading market players adopt various business strategies, such as mergers and acquisitions, to expand their geographical presence and consumer base across the world.

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In 2020, Asia Pacific market dominated the global acrylamide market. The region is expected to continue its dominance during the forecast period. The acrylamide market trends are influenced by the increase in the demand for acrylamide for water and wastewater treatment. Governments in countries, such as China and India, are increasingly focusing on the treatment of wastewater. In China, the government, in its 13th Five-year Plan, published the Water Pollution Prevention and Control Action Plan, which focused on providing health to the heavily polluting sectors from contaminating water sources. The focus was laid on municipal and industrial wastewater treatment, owing to which, China aimed to spend ~US$ 88.45 billion on its water treatment industry, through its 13th Five-year Plan. Along with this, in 2020, North America held the second-largest share in the acrylamide market.

The water treatment industry across the world is growing due to increased industrial demand for water. Water is being increasingly utilized in huge quantities in various industries, such as power, steel, mining & metallurgy, petrochemicals, oil & gas, food & beverages, and textile & dyes. Governments across the world are focused on implementing regulations focusing on wastewater treatment, thus increasing the demand for acrylamide to be used in wastewater treatment. Acrylamide is used to manufacture acrylamide polymer (polyacrylamide) which is used as a flocculent in wastewater treatment. It coagulates the organic matter that can be removed by filtration. Moreover, it removes metallic ions from their corresponding metal salt solution in industrial wastewater.

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Acrylamide Market Size: Segment Overview

Based on product type, the global acrylamide market is bifurcated into acrylamide water solutions and acrylamide crystals. In 2020, the acrylamide crystals segment accounted for the largest portion of the acrylamide market share. The demand for synthetic ingredients is increasing due to the low cost of synthetic ingredients, easy availability, and consistency of product quality. Acrylamide crystals are colorless and transparent flaky crystals and are used as a flocculant, blocking agent, textile treatment agent, and water treatment agent.

Based on application, the global acrylamide market is segmented into water and wastewater treatment, enhanced oil recovery, paper manufacturing, cosmetics, chemical intermediates, textiles, and others. The market for the water and wastewater treatment segment is expected to grow the fastest during the forecast period. The increase in government projects focusing on wastewater treatment in various countries, such as China, India, the US, has led to increased demand for acrylamide.

Impact of COVID-19 Pandemic on Acrylamide Market:

Many industries, such as the chemicals & materials industry, faced unprecedented challenges due to the COVID-19 pandemic. The shutdown of the manufacturing units adversely affected the production and supply side of the acrylamide market. Also, the logistics and transportation sector hampered the market due to the imposition of lockdown. The shutdown of various end-use industries, such as pulp and paper, cosmetics, and textiles, has led to a decrease in demand for acrylamide, thus negatively impacting the acrylamide market. The ease in lockdown restrictions positively impacted the transportation and the trade sector for chemicals & materials. The steps taken by the governments across the world to revive the economy and resume operations have increased the demand for various chemicals such as acrylamide. Moreover, the demand for water and wastewater treatment have been witnessing increased interest from the developing nations, which is expected to further propel the acrylamide market growth in the coming years.

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