March 05, 2020
The research report on ‘North America Polyacrylamide Market Size by Application, Product, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2024’, which is available at MarketStudyReport.com, highlights the growth factors and the key industry trends of North America polyacrylamide market.
According to the report, North America polyacrylamide market is expected to amass USD 1.5 billion by the year 2024. Technological advancements in oil & gas industries is a major factor driving the market growth. The product reduces the friction immensely, has high molecular weight, and can be used across applications having diverse salinity and pH levels. It is also used in applications such as fracturing fluid additives, oil sand flocculants, drilling fluid additives, and enhanced oil recovery. Increasing production and consumption of oil in U.S. coupled with growing demand for fuel are further facilitating the market expansion.
As per product type, the report states that cationic polyacrylamide market segment is presumed to expand substantially during the forecast period. The product offers strong absorption property and is extensively used as filtering agent and anti-emulsifying agent for sludge dewatering. Cationic polyacrylamide is used in wastewater treatment plants as a coagulant as it helps in neutralizing negative colloidal particles, thereby encouraging sedimentation and reducing the volume of sludge. Thus, growing population coupled with scarcity of water resources has enhanced the demand for wastewater treatment solutions, which in turn is fueling the segmental growth.
Based on the application spectrum, the paper making application of polyacrylamide is expected to hold 21% share in the overall market by the year 2024. Rising adoption of the product to improve retention and dewatering during the production of paper coupled with increasing paper recycling activities are propelling the growth of the market.
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The prominent companies operating in North America polyacrylamide market are Kemira Oyj, Solenis, BASF SE, SNF Group, and Ashland, Inc. among others. These market majors are focusing on R&D activities to develop innovative products and undertaking various business strategies in order to gain a competitive edge in the overall market.