Report : South & Central America Polyacrylamide Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Anionic, Cationic, and Non-Ionic), Form (Powder and Liquid), and End User (Water and Wastewater Treatment, Pulp and Paper Manufacturing, Oil and Gas, Mining Industry, and Others)
At 3.7% CAGR, the South & Central America Polyacrylamide Market is speculated to be worth US$ 165.89 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America polyacrylamide market was valued at US$ 133.23 million in 2022 and is expected to reach US$ 165.89 million by 2028, registering an annual growth rate of 3.7% from 2022 to 2028. Higher demand for polyacrylamide from oil and gas industry and raising focus of market players on boosting production capacities.
The oil & gas industry is the major area of polyacrylamide applications. In oilfields, polyacrylamide is a versatile chemical treatment agent. Polyacrylamide is widely used in drilling, cementing, well completion, workover, fracturing, acidification, water injection, water shutoff profile control, and tertiary oil recovery. Polyacrylamide solution has a high viscosity, good thickening, and rheological regulation. Polyacrylamide has strong flocculation, which can flocculate the sand slurry and coal rock in the overall drilling process. It can clean the twist drill and drill tools, reduce contradictions and friction resistance, improve drilling speed, and reduce drilling costs during the drilling process. In the oil industry, polymers are used for polymer flooding. The wide range of applications of polyacrylamide in the oil & gas industry offers substantial growth prospects for the polyacrylamide market. In addition, various oil-producing companies are spending more on increasing oil production to meet rising energy demand due to the booming population, further creating demand for polyacrylamide. Therefore, the high demand for polyacrylamide from the oil & gas industry is mainly driving the polyacrylamide market growth.
On the contrary, volatility in raw material prices.
- Based on type, the South & Central America polyacrylamide market is segmented into anionic, cationic, and non-ionic. The cationic segment held 59.1% market share in 2022, amassing US$ 78.76 million. It is projected to garner US$ 100.17 million by 2028 to expand at 4.1% CAGR during 2022–2028.
- Based on form, the South & Central America polyacrylamide market is bifurcated into on powder and liquid. The powder segment held 52.5% market share in 2022, amassing US$ 69.99 million. It is projected to garner US$ 89.21 million by 2028 to expand at 4.7% CAGR during 2022–2028.
- Based on application, the South & Central America polyacrylamide market is categorized into on water and wastewater treatment, pulp and paper manufacturing, oil and gas, mining industry, and others. The water and wastewater treatment segment held 39.2% market share in 2022, amassing US$ 52.22 million. It is projected to garner US$ 67.34 million by 2028 to expand at 4.3% CAGR during 2022–2028.
- Based on country, the South & Central America polyacrylamide market has been segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that Brazil captured 33.2% market share in 2022. It was assessed at US$ 44.29 million in 2022 and is likely to hit US$ 56.21 million by 2028, exhibiting a CAGR of 4.1% during the forecast period.
Key players dominating the South & Central America polyacrylamide market are SNF; Kemira Oyj; BASF SE; Mitsui Chemicals, Inc.; Ashland Global Holdings Inc.; Solenis; and Solvay S.A. among others.
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