March 04, 2020
The research report on ‘Europe Polyacrylamide Market Size By Product, Application, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, which is available with Market Study Report LLC, emphasizes on the growth factors and the key industry trends of Europe polyacrylamide market.
According to the report, Europe polyacrylamide market is presumed to cross USD 2.4 billion by the year 2024. Factors such as depleting ground water reserves along with rising concerns regarding industrial wastewater disposal are majorly driving Europe polyacrylamide market growth. Polyacrylamide is used as a coagulant or as a flocculant for treating wastewater since it enables particles to precipitate which further allows for easy separation of contaminants from wastewater. Adding to this, introduction of strict environment regulations has compelled municipalities and industries to treat wastewater before releasing, which in turn is facilitating the market expansion. Technological advancements such as development of bio-based polyacrylamide products will also trigger Europe polyacrylamide market growth.
Based on the product landscape, the report cites that cationic polyacrylamide market segment held 30% share by volume in the year 2018 and is expected to grow with a CAGR of 7% during the period of 2019-2024. Rising adoption of cationic polyacrylamide in industrial applications is contributing towards popularity of the product across Europe.
Elaborating on the application spectrum, the report states that water treatment sector holds 40% share of Europe polyacrylamide market and will witness lucrative growth in the ensuing years. Alternatively, oil refining application segment is predicted to expand with a CAGR of 7.5% during 2019-2024.
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Mitsubishi Rayon Co. Ltd., Kemira, PetroChina Co. Ltd., and BASF SE are the prominent companies operating in the Europe polyacrylamide market. These market majors are focusing on amplifying their revenue share by undertaking research & development activities to improve their product offering, along with entering into strategic collaborations with other players.
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