Water Soluble Polymer Market Size

Water Soluble Polymer Market Size

Water Soluble Polymer Market Size was valued over USD 24 billion in 2016, and the industry will grow at a CAGR of up to 5.6% through 2024. The industry is increasing due to the rising potable water demand in across all nations. It is further triggering the wastewater treatment demand across industrial, and municipal processes, which would require more products such as water-soluble polymers.

The tightening environmental regulations in developing economies regarding effluent discharge from manufacturing companies and drinking water purity are further accelerating the demand for these products and will enhance the global water soluble polymer market over the forecast period.

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Companies involved in production of pharmaceuticals, nutraceuticals, mineral processing, oil & gas, and paper generate high volumes of effluents. Besides, the wastewater generated from oil & gas companies are carcinogenic, and sometimes toxic. This enormous generation is restricted with strict regulations on their disposal, will further demand more waste treatment products, giving a significant boost to the water soluble polymer market growth.

Oil & gas sector acts as one of the prominent consumers of these commodities. The hydrates formation in the oil & gas pipelines has become a major challenge in oil & gas operations. These are highly employed in pipelines in order to reduce hydrate formation. The rising crude oil production in the world will further trigger the global water soluble polymers market share by 2024.

Product consumption will grow over the coming years due to their growing demand in the developing nations. These countries are completely focusing on employing eco-friendly products, as they help in restricting the pollution levels. Favorable government regulations in these economies will further assist in increasing water soluble polymer market demand.

Water soluble polymer market could face restraints due to the adverse environmental, and health impact of synthetic polymers. These products may affect the environment in various direct or indirect ways. This market may be further affected due to instability in raw material prices of synthetically derived products from the past few years. Over the coming years, the raw material prices are expected to oscillate highly, which in turn may show a negative impact on its growth.