The global water treatment polymers market is projected to be worth USD 43.32 billion in 2023, according to a recent study published by Future Market Insights. The market is expected to attain a valuation of USD 81 billion by 2033, growing at a CAGR of 6.4%.
The increasing utilization of water treatment polymers in diverse sectors such as drilling, enhanced oil recovery, mining, wastewater treatment, and food industry is set to propel market growth. The increasing demand for water-soluble polymers in various applications such as stabilizers, thickeners, film formers, emulsifiers, rheology modifiers, lubricity aids, and conditioners will further contribute to industry growth in the forecast period.
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The growing use of these polymers across diverse sectors such as household products, construction, detergents, personal care, food, paints & coatings, and pharmaceuticals is anticipated to drive product sales in the forecast period. The increasing adoption of polyvinyl alcohol for eco-friendly packaging, supported by government initiatives, is further expected to boost industry growth. The rising consumption of water treatment polymers is driven by their superior properties, including quick-drying, mild odor, non-flammability, and eco-friendliness.
The growing investments from major players like SNF, CNPC, BASF, and Beijing Hengju are projected to fuel market growth. The increasing production of shale gas and wet shale gas in countries such as the United States, China, Algeria, and Australia are further contributing to the rising demand in the industry.
The burgeoning demand for bio-based acrylamide, especially in the pharmaceutical sector, is anticipated to drive market growth in the coming years. The market is expected to witness significant growth driven by the rising demand for water-soluble polymers in various applications such as water treatment, enhanced oil recovery (EOR) techniques, drilling, and fracking.
Key Takeaways
· United States water treatment polymers market is expected to grow with a CAGR of 6.2% during the forecast period.
· The market in China is expected to grow with a CAGR of 6.5% during the forecast period.
· By application, water treatment segment is projected to grow with a significant CAGR of 7% during the forecast period.
· The market in India is expected to grow with a CAGR of 6.6% throughout the forecast period.
“Increasing demand for bio-based acrylamide in the pharmaceutical sector and increasing investments by key players are expected to fuel market expansion during the forecast period,” comments an FMI analyst
Competitive Landscape
The water treatment polymers market is intensely competitive, with several key industry players investing heavily in providing these services.
The key industry players are Suez Water Technologies and Solutions, Solenis, Ecolab Inc., Kemira Oyj, SNF Group, Accepta Water treatment Products, Beckart Environmental Inc., Thermax Limited, Chemigate Ltd., Alken-Murray Corporation, Aries Chemical, Inc., Chemco Products Inc., CHEM.ENGI s.r.o, Pentair, Dow Chemical Company, ShanDong XinTai Water Treatment Technology co. ltd.
Some recent developments in the market are:
· Kemira Oyj initiated global full-scale production of their innovative polyacrylamide polymer derived from biobased feedstock in February 2022.
· In June 2021, Infinite Material Solutions introduced a novel water-soluble thermoplastic specifically designed for 3D printing microporous components.
· Aquapak Polymers, a United Kingdom-based company, made a breakthrough in February 2021 with the development of Hydropol, a ground-breaking resin that can be converted into standard plastic pellets.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global water treatment polymers market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the water treatment polymers market, the market is segmented on the basis of product, application, end-use and region.