According to a new research report by Global Market Insights Inc., the Water Soluble Polymer Market size will exceed $38 billion by 2024. High growth in consumption in the water treatment sector will augment the demand for these products throughout the forecast years. The rising demand from oil & gas industry for reducing the hydrate formation in the oil pipelines will further complement the global market during the forecast timeframe.
These polymers are used in various industry verticals such as pharmaceuticals, chemicals, mining, F&B and textiles. High growth in consumption of these products across all these industry verticals will drive their demand, and will eventually drive the demand throughout the forecast period. In further, the rising demand for wastewater treatment in the developing nations of Asia Pacific and Latin America will give a significant boost to water soluble polymer market.
This market is also subjected to some restraints over the forecast period. Fluctuating raw material prices will likely present a significant challenge to the existing players. This market will also be liable to hinder, due to bearing a threat of showing negative impacts on the environment as well as humans.
Browse key industry insights spread across 142 pages with 170 market data tables & 12 figures & charts from the report, “Water Soluble Polymer Market By Product (Polyacrylamide & Copolymers, Guar Gum & Derivatives, Polyvinyl Alcohol, Casein, Gelatin, Polyacrylic Acid & Copolymers), By Application (Water Treatment, Detergents & Household Products, Paper Making, Petroleum), Industry Analysis Report, Regional Outlook,Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
Polyacrylamide & copolymers held the largest water soluble polymer market share in 2016. The product is primarily used for its excellent thermal stability, solubility, high miscibility, and non-toxicity. They are mainly utilized in treating wastewater, where there are more suspended solid particles. This segment is projected to grow at a moderate CAGR due to its eco-friendly features.
Water treatment is likely to grow at a CAGR close to 6% through 2024. The market growth will be majorly attributed to being more useful in reducing the toxic
effects of the industrial effluents, further helping in the reduction of waste and further assist in achieving environmental sustainability. Growing concerns against water-pollution have led to the devising of stricter laws and regulations to take the initiative against wastewater generation, which will show a positive impact on the water soluble polymer market by the end of 2024.
In 2016, the Asia Pacific region was close to USD 9 billion. Substantial market share along with a decent growth rate by 2024 will be due to rapid industrialization in China and India, and massive wastewater generation. Furthermore, strong growth indicators in regional F&B, pharmaceutical and oil & gas will create a remarkable contribution to the water soluble polymer market growth in the coming years.
Key contributors of this market are BASF, Kemira, Ashland, SNF SAS, Arkema, Kuraray, DuPont, Dow, Nitta Gelatin, LG Chem.