Acrylamide Market Size and Growth Rate:
Acrylamide Market Was Valued xx
million USD in 2019 and this value predicted to reach xx million USD by 2024
growing at a significant CAGR of 4.5% during 2019 to 2024.
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Acrylamide Market Overview:
Acrylamide is extremely used in the
water treatment industry. Hence, the global acrylamide market is made by the
stringent environmental laws pertaining to dispose of sewage water. The need
for acrylamides from the oil and gas division is also high due to improved oil
recovery needs. The growing petroleum industry is also supposed to be a major
driver for the increase of global market in the projected period. The
increasing food and beverage industry is also expected to fuel the acrylamide
market in the near future.
Acrylamide Market Growth Drivers and Restraints:
The dynamic lifestyle of people
coupled with increasing use of convenience food goods is also expected to be a
significant factor pushing the global acrylamide market in the forthcoming
years. Moreover, the growing recognition among the customers about proper
hygiene is growing the demand for personal care products, thus driving the
pharmaceutical sector. The growing medical division is expected to show a
positive influence on the acrylamide market. The increase in the adhesives and
sealants industry is also expected to fuel the demand for acrylamide, thus driving
the world market. Nevertheless, the result of adhesives and sealants business
on the global market is supposed to be stagnant in the forecast period.
Future growth in the market will be
driven primarily by the growing use of polyacrylamide in the water administration
sector in China and Other Asian countries, which has active growth rates
worldwide. Use in the paper is supposed to have limited growth in developed
economies, whereas it should grow faster in Asia (excluding Japan). The US
acrylamide business should see strong growth in petroleum means such as
hydraulic fracturing and EOR.
Geographical Analysis of Acrylamide Market:
On the evidence of region, Asia
accounts for the preponderance of the total global division and stands as the
largest producer and consumer for acrylamide. Other major regions include
Europe, the United States, and the Middle East and Africa.
Asia-pacific was considered for the
major market share of acrylamide market and is supposed to dominate the market
during the projection period. China is both the best producer and consumer of
acrylamide accounting for about 40% of the global share. Improving demand from
the oil and gas industry for its use in the enhanced oil return process is
driving the china acrylamide market.
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Key Players of Acrylamide Market:
Some of the prominent players in the
global acrylamide market are Nalco, KemiraINEOS, BASF SE, and SNF Group.
Acrylamide Market Segmentation:
By Application:
·
Flocculent for Water Treatment
·
Enhanced Oil Recovery
·
Pulp and Paper Manufacturing
By Region:
·
North America
·
South America
·
Europe
·
Asia Pacific
·
Middle East and Africa
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