Acrylamide Market size will grow at a significant CAGR from 2023 to 2032, driven by the ongoing developments in the oil & gas sector and the need for enhanced oil recovery (EOR). Moreover, increasing federal investments in EOR will lead to substantial product consumption in the coming years.
Supportive government and regulatory measures for water treatment infrastructure development will create a favorable growth outlook for the acrylamide industry in the coming years. For example, in September 2022, New York State authorities announced approximately $232 million as funding for water and sewer infrastructure projects in seven municipalities.
In addition to developing new infrastructure, the respective governments are also introducing various regulations to control the disposal of sewage water. Besides water treatment applications, acrylamide manufacturers and suppliers will witness promising opportunities from pulp & paper, food packaging, cosmetics, and other areas.
The Acrylamide Market may witness significant uncertainties due to inflation and continuously increasing interest rates, resulting in poor product demand from multiple industries. China has historically been a key user of American polymer supplies, but it suffered from the global economic downturn and COVID-related problems, which might impede the growth of the business.
Considering the application landscape, the pulp and paper manufacturing segment is expected to hold a substantial share of acrylamide market through 2032. In papermaking applications, the product is used as a strengthening and dispersing agent to ensure good performance of paper products. Pulp and paper production is increasing due to the rising consumption of packaging products worldwide. The surge in ecommerce and home deliveries during COVID-19 has led to a substantial growth in paper packaging demand. Even after the pandemic, online sales of products and supplies are anticipated to stay high, further fueling this demand.
Global acrylamide market is projected to record substantial gains from the food packaging sector. With a notable uptick in the consumption of packaged food products, the demand for high-quality packaging materials is also increasing. Moreover, there has been a significant rise in food in the past few years, especially since the outbreak of the COVID-19 pandemic. As a result, many restaurants started home delivery services, further driving food packaging demand which is expected to remain steady in the coming years as the food delivery trend continues to gain attraction among consumers.
Europe acrylamide market is anticipated to undergo steady growth between 2023 and 2032. The regional product consumption is influenced by the expansion of oil & gas and water treatment sectors. The commission had noted that investments in some Member States are still slightly low to ensure compliance with Urban Wastewater Treatment Directive (UWWTD). As a result, there could be increase in government investments in the coming years, benefiting the regional product suppliers.
BASF SE, INEOS, SNF, Petro China Daiqing, Kemira, Nalco, Rudong Natian, and Beijing Hengju are among the notable players in the acrylamide market. Manufacturer are investing in expansion of their product portfolios in order to meet the growing market demand.