The North American polyacrylamide market is divided into uses such as petroleum, papermaking, and water treatment. In 2018, the petroleum application segment reached its highest annual growth rate of more than 7% due to its increasing use in oil recovery treatment.
The anionic segment reached a maximum portion of the North American polyacrylamide market in 2018. This is due to its good solubility resulting in its wide use in water treatment application. In this way, the growing industrial activity in the region of North America will increase the need for industrial wastewater treatment facilities in the upcoming years. As per estimates, North America polyacrylamide market is set to double its market value from 2016 recorded at 1 billion to USD 2 billion by 2024.
The industrial sector in Europe is growing almost by the second, which in turn means that the uses of water and water treatment activities will increase in the same rate. Also, the strict government directives and protocols regarding water reuse and treatment in Germany, UK, France, Spain, Italy and Russia will boost the polyacrylamide market in the region.
Countries in the APAC region such as Japan, China, Indonesia ,and India are using polyacrylamide for industrial water treatment applications. The water treatment segment accounts for about 40% of the Asia Pacific polyacrylamide market nowadays. The oil segment is likely to have a significant growth rate due to the increase in oil and gas drilling and exploration activities in the next years.
APAC is foreseen to exhibit a CAGR of 8% over 2017-2024, primarily driven by China, India, and Malaysia. China's total waste water discharge has increased from 41.5 billion tons in 2000 to 68.5 billion tons in 2012, a significant raise of 65% over the period.
As for LATAM, specifically Brazil and Mexico, accounted for more than 5.1% share in polyacrylamide industry during 2018. It is predicted that EOR operations on petroleum will increase the polyacrylamide market in the region. Also, a booming population and the need for effective wastewater treatment because of this will augment LATAM polyacrylamide market share in the near future.
Increasing oil and gas production and exploration capacity in the Middle East anticipate fostering the market in the near future. Specifically, The Saudi Arabian polyacrylamide Market is growing significantly due to surging demand from wastewater treatment and oil recovery industries. Also, smart water grid legislatures have implemented to process wastewater, which is expected to increase the growth of polyacrylamide use. The same happens with countries like UAE and South Africa, which mainly use polyacrylamide for the same purpose.
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