The global market size of Acrylamide was USD 3 billion in 2023 and is projected to reach USD 4.44 billion by 2032, with a forecasted compound annual growth rate (CAGR) of 4%. The growth of the market revenue is primarily driven by the increasing demand for chemicals used in water treatment, the growing need for superabsorbent polymers, and the expanding utilization of acrylamide in the paper and personal care industries.
The demand for water treatment chemicals has significantly risen due to concerns over water scarcity and the requirement for clean and safe water. This surge in demand for water treatment chemicals is a key factor propelling the acrylamide industry. Acrylamide is often used as a coagulant aid in wastewater treatment due to its ability to accelerate the settling of suspended materials. Acrylamide-based polymers are used as flocculants to remove pollutants from wastewater. As a result, the market for acrylamide is expected to expand during the forecast period due to the increased demand for water treatment chemicals.
The need for superabsorbent polymers is another factor driving the growth of the acrylamide industry. Acrylamide is a crucial component in the production of superabsorbent polymers, which are utilized in various products such as baby diapers, adult incontinence products, and feminine hygiene items. The demand for acrylamide is anticipated to rise along with the increasing demand for these products, contributing to the market's growth.
Furthermore, acrylamide finds significant usage in the personal care industry. The market for acrylamide in this sector is expected to expand due to the growing demand for high-end personal care products and the increasing popularity of hair styling products. Polymers based on acrylamide are utilized in the production of skincare, hair styling, and other personal care products.
The market expansion of acrylamide is also driven by the rising demand for paper and paper-based packaging products. The paper industry is a major end-use market for acrylamide, where acrylamide-based polymers are employed as drainage aids, strength additives, and retention aids during paper manufacturing.
However, certain factors such as the availability of substitutes and the high cost of raw materials are expected to hinder the market growth of acrylamide. Additionally, the high cost of raw materials required for acrylamide production is expected to limit the market expansion throughout the projected period. Polyacrylamide and polyvinyl alcohol are two common alternatives to acrylamide.
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Competitive Landscape:
- Solvay
- BASF SE
- Evonik Industries AG
- China Petroleum & Chemical Corporation (Sinopec)
- Mitsui Chemicals, Inc.
- Sumitomo Chemical Co., Ltd.
- Formosa Plastics Corporation
- Nalco Water
- Kemira Oyj
- Ajinomoto Fine-Techno Co., Inc.
Factors Influencing the Acrylamide Market
Several factors contribute to the dynamics of the Acrylamide market. These factors impact the demand, supply, and overall growth of the market. Here are some key factors that influence the Acrylamide market:
- Water Treatment Chemicals Demand: The increasing concern over water scarcity and the need for clean and safe water has led to a significant rise in the demand for water treatment chemicals. Acrylamide plays a vital role in water treatment as a coagulant aid and in the production of flocculants for wastewater treatment. The growing demand for water treatment chemicals directly affects the demand for Acrylamide in the market.
- Superabsorbent Polymers: Acrylamide is a crucial component in the production of superabsorbent polymers used in various products like diapers, adult incontinence products, and feminine hygiene items. The rising need for these products drives the demand for Acrylamide. As the demand for superabsorbent polymers increases, it positively impacts the growth of the Acrylamide market.
- Personal Care Industry: The personal care industry is another significant consumer of Acrylamide. The increasing demand for high-end personal care products and the popularity of hair styling products contribute to the growth of the Acrylamide market. Polymers based on Acrylamide are utilized in the manufacturing of skincare, hair styling, and other personal care products.
- Paper Industry: Acrylamide finds extensive usage in the paper industry. It is used as drainage aids, strength additives, and retention aids in paper manufacturing. The demand for paper and paper-based packaging products directly affects the demand for Acrylamide in this sector.
- Substitutes and Raw Material Costs: The presence of substitutes and the high cost of raw materials can restrain the market expansion of Acrylamide. Polyacrylamide and polyvinyl alcohol are common alternatives to Acrylamide. The availability and cost of these substitutes impact the overall demand for Acrylamide in the market.
Understanding these factors helps in evaluating the growth potential and making informed decisions within the Acrylamide market.
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Segments covered in the report:
Segments covered by Application Outlook, End-use Industry, Regional Outlook
By Product Type Outlook
- Water-soluble Acrylamide
- Oil-soluble Acrylamide
- Others
By End-use Industry Outlook
- Water Treatment
- Paper Making
- Personal Care
- Others
Regional Outlook
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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