The global acrylamide market is expected to grow at an average CAGR of 4% during the forecast period of 2022 to 2032. The target market is anticipated to reach a substantial market value by the end of 2032. Factors like increasing demand for enhanced oil recovery (EOR) process will serve as a major growth driver for the acrylamide market due to the fact that polyacrylamide is extensively used in the process.
As a chemical, acrylamide gains expansive usage in the water treatment industry. Owing to the implementation of strict environmental regulations supervising the disposal of sewage water, the market prospects for acrylamide have observed a surge in the last few years. Additionally, the oil and gas industry also generates high demand for the target product because of its oil recovery requirements.
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Other factors like applications in the advancing petroleum and printing sectors will also serve as a prime growth driver of the acrylamide market growth during the assessment period. In the next few years, the food and beverage industry will also contribute to the growth of the global acrylamide market. The swiftly changing lifestyles, and high demand for convenience food items, are aspects that will propel the acrylamide market.
Moreover, an upsurge in consumer awareness regarding proper hygiene is bolstering the demand for personal care products as well as stimulating the medical sector. The medical and personal care sectors are anticipated to have a positive impact on the global acrylamide market owing to its extensive use in the products from these industries. The growth of the adhesives and sealants industry will also drive the growth of the global acrylamide market during the forecast period.
“Extensive use of acrylamide as a superabsorbent in medical and agricultural products will likely boost the global growth of the acrylamide market over the forecast period,” – says an FMI analyst.
Key Takeaways:
- Adverse health effects associated with the product may impede the growth of the acrylamide market.
- Opportunities in the printing industry may strengthen market prospects for acrylamide.
- The swift progress of the oil and gas industry will drive Europe’s acrylamide market toward steady growth.
- The Asia Pacific region is expected to emerge as a lucrative market for acrylamide during the forecast period.
- China will acquire the largest market share of the Asia Pacific acrylamide market.
Competitive Landscape
BASF SE, INEOS, SNF, Petro China Daqing, Kemira, Nalco, Rudong Nation, and Beijing Hengju among others are some of the major players in the acrylamide market profiled in the full version of the report.
Leading market players are focusing on expanding their production capacities to meet the growing demand. These firms are increasing their investments to expand their facilities as well as their product portfolios. For instance, Kemira invested about US$ 83 Million in June 2021 to increase bio-acrylamide and emulsion polymer production capacity at its Mobile facility.
More Insights into Acrylamide Market
In its latest report, FMI offers an unbiased analysis of the global acrylamide market, providing historical data from 2015 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of end-use industry (water treatment, oil and gas, paper and pulp, food packaging, cosmetics, others), and region.
According to the latest FMI reports, based on segmentation, the oil and gas and water treatment facilities, as end-use industries, are likely to generate high demand for the product during the forecast period.
Based on region, the acrylamide market in Europe will perform quite well over the next few years. The target market in this region will present substantial growth due to the elevated demand from the advancing oil and gas industry as well as the water treatment sectors. Many governments across Europe are increasing their investment in water treatment projects which is expected to stimulate the market during 2022-2032. Additionally, Asia Pacific is anticipated to emerge as an opportunistic market for acrylamide during this period owing to rising demand for convenience products. Overall, expansive usage of acrylamide in oil and gas, personal care, water treatment, and other end-use industries will fuel the growth of the acrylamide market during the forecast period
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Key Companies Profiled
- Firestone
- Complete Auto Care
- Meineke
- Jiffy Lube
- Midas
- Safelite Group
- Monro Muffler Brake
- Mitsui Chemicals, In
- Zhejiang Xinyong Biochemical Co., Ltd
- SNF Group
Key Segments Profiled in the Acrylamide Market Industry Survey
By End Use Industry:
- Water Treatment
- Oil and Gas Industry
- Paper and Pulp Industry
- Food Packaging Industry
- Cosmetics Industry
- Other End-Use Industries
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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