Increasing adoption of water-soluble polymers are expected to fuel market demand
The global Water Soluble Polymer Market size is expected to value at USD 43.79 billion by 2022. The market is subject to witness a substantial growth due to the rise in the number of application of water soluble polymers in drilling, enhanced oil recovery, mining, wastewater treatment, and food. Increasing adoption of water-soluble polymers as stabilizing agents, thickeners, film formation agent, emulsifiers, rheology modifiers, lubricity aids, and conditioners, are expected to fuel market demand for water soluble polymers over the forecast period. Globally, the water soluble polymers industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the water soluble polymers market.
Water soluble polymers are vital for production of various household products, detergents, personal care, and paints & coatings. Increasing adoption of water soluble polymers in food & beverages industry, building & construction industry and pharmaceuticals as a stabilizing agents, thickeners, film formation agent are anticipated to fuel the growth of water soluble polymers industry over the forecast period.
Growing use of polyvinyl alcohol in green packaging along with favorable government laws & regulations are expected to boost market expansion over the next seven years. Some of important properties of water soluble polymers include quick drying, mild odor, inflammable, and environment-friendly nature. These factors are expected to amplify market performance in the near future.
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Substantial investment by prominent industry participants such as SNF Group, China National Petroleum Corporation, BASF SE and Beijing HengjuCo., Ltd., in research & development is propelling market demand for water soluble polymers. Significant rise in overall production of shale gas and wet shale gas, particularly in developed economies across the globe such as the U.S., Algeria and Australia is estimated to escalate market growth in the near future. However, volatility in cost of raw material and their availability are some of the key challenges for industry growth the next seven years. Additionally, rising concerns in regards to adverse environment effect are hindering market growth to a certain extent.
The water soluble polymer market is broadly categorized into six major segments based on the application type such as water treatment industry, food& beverages industry, personal care & detergents sector, oil & gas industry, pulp & paper industry, and pharmaceuticals sector. The water treatment industry is considered as one of the fastest growing segment in the market with substantial revenue generation in the last few years. Growing popularity of water soluble polymers in the water treatment segment is attributed to the favorable government policies and rising ecological concerns. The oil & gas industry segment has also witnessed substantial growth owing to the growing shale gas production.
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The water soluble polymers industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in pharmaceutical and food & beverages industry, rapid growth in shale gas manufacturing, and existence of well-established industrial infrastructure in the region.
Asia-Pacific region is predicted to hold major market share in the water soluble polymers market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with rapid growth in industries including personal care, food & beverages and pharmaceuticals sector, strong economic growth in the region, growing infrastructure development expenditure, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the water soluble polymer industry are Ashland Inc., Arkema S.A., E. I. du Pont de Nemours and Company, The Dow Chemical Company, BASF Group AG, , Gantrade Co., Nitta Gelatin, Inc., Kuraray Co., Ltd., SNF Group Ltd., Kemira Oyj, AkzoNobel N.V., Gelita AG, Shandong polymers Bio-chemicals Co., Ltd., Sumitomo Seika Chemicals Company, and CP Kelco, Inc.
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