The global water soluble polymers market is expected to reach USD 43.79 billion by 2022, according to a new report by Grand View Research, Inc. Increasing demand for water soluble Polymers in water treatment, EOR techniques, drilling and fracking is expected to increase market size over the next seven years.
Growing personal care and detergents sector in various countries including India, China, U.S., and Saudi Arabia is likely to increase demand. Increasing usage of water soluble Polymers as dispersing and suspending agents, gellants, stabilizers, flocculants and coagulants, film-formers, thickeners, humectants, binders and lubricants will drive industry growth. Mounting consumption in various sectors including paper, mining, agriculture, and textile is expected to drive demand over the forecast period.
Rising environmental concern and increasing efforts to modernize municipal water treatment facilities on account of strict waste water management and municipal water standards is expected to augment industry growth. Asia Pacific is expected to witness high growth as a result of booming food & beverage sector, increasing investment by companies along with growing number of manufacturing facility by BASF and SNF in China. However, fluctuating raw material prices is expected to restrict growth over the next seven years.
Polyacrylamide was the largest segment in 2014 and is expected to gain market share in light of increasing consumption in drilling activities, waste water treatment along with the pulp & paper sector. Polyacrylamide is expected to witness fastest growth at a CAGR of 6.5% from 2015 to 2022 on account of growing consumption in mining and waste water treatment owing to stringent environmental regulations
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Further key findings from the study suggest:
- Global water soluble Polymers market demand was 6,039.4 kilo tons in 2014 and is expected to grow at a CAGR of 5.8% from 2015 to 2022.
- In 2014, guar gum was the largest product segment and is expected to grow on account of increasing demand from convenience foods along with oil & gas industry. In addition, mounting pharmaceutical demand as a result of various technological advancements is further expected to augment guar gum consumption.
- Oil & gas sector was the second largest application segment in 2014 with demand over 840.0 kilo tons on account of increasing drilling and fracking activities primarily in U.S., China, Argentina, Algeria and Australia. In addition, regulatory support for exploration, development and production of shale gas in order to meet the rising need for natural gas is expected to drive demand.
- Asia Pacific was the largest market in 2014 and is expected to witness swift growth, at an estimated CAGR of 7.0% in terms of volume from 2015 to 2022, owing to increasing industrialization, rising water quality standards along with growing environmental concerns regarding wastewater treatment mainly in China, India and Indonesia.
- The key market players include SNF Group, Ashland Inc., Arkema SA, DuPont, The Dow Chemical Company, BASF, Gantrade, Nitta Gelatin Inc., Kuraray Group, Kemira OYJ, AkzoNobel, Gelita AG, and Shadong Polymers Biochemicals Co. Ltd. Various companies are developing biodegradable Polymerss such as Polyaspartic acid (PASA) which is expected to open new growth avenues.
Grand View Research has segmented the global water soluble Polymers market on the basis of product, application and region:
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