Focus on Advanced Methods of Oil Recovery in Reservoirs Fuels Product Demand in Polyacrylamide Market: TMR Study
– Widespread application of polyacrylamide (PAM) in the improved petroleum recovery process underpinned by the use of attractive chemical properties of polymers
– Strong demand in water and wastewater treatment processes provides steady revenue gains for manufacturers in Polyacrylamide market
ALBANY, NY, September 20, 2021 / PRNewswire / – Products in the polyacrylamide market have steadily grown in commercial importance to manufacturers of synthetic polymers. The water soluble polymer has been widely studied for its applications in water and wastewater treatment processes, enhanced petroleum recovery (EOR), mining and the paper industries. The steady advancements in polyacrylamide (PAM) chemistry over the years have stimulated their demand in these applications.
The number of seawater desalination units around the world has increased due to increasing water scarcity. In addition, brackish water treatment processes have also developed considerably in recent years. These applications stimulate R&D in PAM chemistries to expand their potential applications in water and wastewater treatment. The polyacrylamide market is expected to increase at a CAGR of 6.2% during the forecast period 2019-2027.
Extensive use of various types of polyacrylamides in oil and gas, mining, paints and coatings, paper and pulp, and water treatment applications is driving market valuation. Increasing demand in the urban wastewater treatment industry has propelled the polyacrylamide market.
Key Findings from Polyacrylamide Market Research
Improved oil recovery from shale reservoirs offers lucrative avenues: Around the world, the need to increase oil production from refineries has intensified. High Molecular Weight Polyacrylamide (PAM) has been widely used in chemically improved petroleum recovery processes. Demand has flourished thanks to the growing number of shale reservoirs in recent years. Shale gas producers are eagerly adopting advanced EOR for efficient oil recovery, generating vast revenue streams, according to polyacrylamide market research. Chemical companies responding to demand focused on improving product performance characteristics by focusing on rheological behaviors, thermal stability and the feasibility of core flooding.
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Increase in PAM applications in wastewater treatment processes: PAM is widely used as a flocculant in wastewater treatment. Manufacturers in the PAM market intend to improve mechanical properties and biocompatibility to meet emerging technologies in water and wastewater treatment. The growing investment by governments in municipal wastewater treatment facilities in developed and emerging economies has been driven by the growing demand to tackle the scarcity of drinking water. This has boosted the outlook for the polyacrylamide market.
Polyacrylamide market: drivers
The relentless focus on improving wastewater treatment technologies has resulted in the number of municipal sewage treatment plants around the world, especially in developed countries. The factor has spurred research on PAM chemistries for use in advanced technologies.
The increasing adoption of emerging technologies to increase oil production around the world has generated investments in enhanced oil recovery (EOR) methods
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Polyacrylamide Market: Regional growth dynamics
North America held a significant market share of the global polyacrylamide market in 2019. The valuation of North America the market should touch the US $ 2.5 billion market by 2027.
Asia Pacific accounted for the major market share in 2018 and is expected to provide substantial opportunities during the forecast period. Globally, the region has been a major producer and consumer of polyacrylamide. Much of the demand in the Asia Pacific polyacrylamides market comes from water and wastewater treatment processes. End-use industries in China, Japan, South Korea, Indonesia, and India are the main consumers of polyacrylamide.
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Polyacrylamide Market: Competitive Assessment
Most of the leading manufacturers in the polyacrylamide market rely on upstream integration to consolidate their market share and increase their profit margins, notes a study on the polyacrylamide market.
Market players should implement better technologies for the storage of volatile PAMs, which could give them a competitive advantage over others.
Some of the major players in the polyacrylamide market are Xitao Polymer Co Ltd., Anhui Jucheng Fine Chemicals Co. Ltd., BASF, Mitsubishi Rayon Co Ltd. and PetroChina Company Ltd.
Global Polyacrylamide Market: Scope of Research
Global Polyacrylamide Market, By Type
Global Polyacrylamide Market, By Form
Global Polyacrylamide Market, By Application
Oil and gas extraction
Paints and coatings
Global Polyacrylamide Market, By Region
Middle East & Africa
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