Water Soluble Polymer Market worth USD 57.32 billion by 2028, registering a CAGR of 6.18% – Report by Market Research Future (MRFR)
New York, Sept. 10, 2021 (GLOBE NEWSWIRE) — Water Soluble Polymer Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Water-Soluble Polymer Market Information: by Raw Material (Synthetic, Semi-Synthetic and Natural), Type (Polyacrylamide and Copolymers, Guar Gum & Derivatives, Casein, Polyvinyl Alcohol, Gelatin, Polyacrylic Acid and others), Application (Wastewater Treatment, Cosmetics and Personal Care Products, Oil & Gas, Food, Pulp and Paper, Pharmaceuticals and others) and Region (North America, Europe, Asia-Pacific, South America and the Middle East & Africa) – Forecast till 2028” the market size is projected to be worth USD 57.32 billion by 2028, registering a CAGR of 6.18% during the forecast period (2021 – 2028), The market was valued at USD 38.25 billion in 2020.
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Market Scope:
The MRFR analysis has listed a few major manufacturers in the water-soluble polymers industry, namely
- SNF Group (France)
- Kemira (Finland)
- BASF SE (Germany)
- Ashland (US)
- KURARAY CO., LTD. (Japan)
- DuPont (US)
- Arkema S.A. (France)
- The Dow Chemical Company (US)
- Nitta Gelatin, NA Inc. (US)
- Gantrade Corporation (US)
- Akzo Nobel N.V. (Netherlands)
- Sumitomo Seika Chemicals Co., Ltd. (Japan)
- CP Kelco U.S. (US)
- Shandong polymers Bio-chemicals Co. Ltd. (China)
- Mitsubishi Chemical Corporation (Japan)
With a substantial water-soluble polymer market share, these companies are known for giving efforts to boost their geographical reach by introducing highly innovative products and solutions. They also adopt numerous strategies such as collaborations, agreements, and partnerships, which adds to the water-soluble polymers market value. To illustrate, in June 2021, Infinite Material Solutions, a renowned 3D printing materials developer, introduced its latest water-soluble 3D printing filament that facilitates the development of lightweight foam parts that resemble a sponge. The claims it to be the first extrudable thermoplastic in the world to have a water-soluble, microporous, co-continuous morphology.
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Market USP exclusively encompassed:
Key Growth Drivers:
Water-soluble polymer market size is projected to expand rapidly in the next several years, thanks to the burgeoning application scope in oil recovery, drilling, wastewater treatment, food, and mining. Mounting use of water-soluble polymers as thickeners, stabilizers, emulsifiers, film formers, lubricity aids, conditioners, and rheology modifiers has been favorable as well.
Water-soluble polymers’ surging applications in diverse sectors such as construction, household products, personal care, detergents, paints & coatings, pharmaceuticals, and food should also foster the business growth in the following years. Rise in use of polyvinyl alcohol for green packaging in conjunction with the government support would also propel the water-soluble polymer market value. The product’s consumption is high, given its impressive properties such as mild odor, quick-drying, eco-friendly nature, and inflammable.
With leading companies like CNPC, SNF, Beijing Hengju, and BASF investing substantially in research and development activities, it is presumed that the water-soluble polymer market share would continue to grow rapidly in the next few years. The dramatic increase in the wet shale gas and shale gas production in China, the U.S., Australia, and Algeria has raised the product demand as well. Moreover, global vendors would find lucrative opportunities in Asia Pacific, given the strong growth of several industries like food & beverages, pharmaceuticals, and personal care, especially in emerging countries such as China, Indonesia, and India.
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Market Restraints:
Unstable prices of the raw materials and the toxic effect of water-soluble polymers on the environment and the health could weaken their demand in the coming years.
COVID-19 Analysis
The COVID-19 pandemic has given way to several challenges for various industries, particularly the chemical industry. This has restricted the water-soluble polymers market growth to a large extent. The global industry has been reeling from the huge financial duress along with the imbalance created between the supply and demand ratio.
However, the water-soluble polymer market size shall be fostered by the constant government support, in the form of investments in research and development activities.
Market Segmentation
Different raw materials considered in the report are natural, semi-synthetic, and synthetic. Synthetic segment in the water-soluble polymer market is in the lead and could procure a decent growth rate in the future. However, the demand for natural water-soluble polymers has been soaring significantly in recent years, in view of the environmental standards banning the use of synthetic polymers and the various physiological and functional benefits.
Various types of water-soluble polymers in the global market are guar gum & derivatives, polyacrylamide and copolymers, polyvinyl alcohol, casein, polyacrylic acid, gelatin, and more.
Water-soluble polymers are extensively used in multiple applications including cosmetics and personal care products, wastewater treatment, food, oil & gas, pharmaceuticals, pulp and paper, and others.
Regional Status
North America is the biggest market for water-soluble polymers, thanks to the thriving industrial base with rapidly growing industries including pharmaceutical and food. The stunning increase in the shale gas production and the strict regulations with regard to wastewater treatment in the region also bolster the demand for water-soluble polymers. The extensive use in the cosmetic and personal care sector also adds to the water-soluble polymers market value.
Asia Pacific could be the fastest advancing market in the forthcoming years, with significant contribution from emerging countries like India, Thailand, China, Malaysia, and South Korea. The surge in industrial output across China has steered the industries’ focus on bringing down the total waste discharge amounts into the water bodies. This has been boosting water-soluble polymers’ use in industrial processes across the country.
Segmentation of Market covered in the research:
Water-Soluble Polymer Market Information: by Raw Material (Synthetic, Semi-Synthetic and Natural), Type (Polyacrylamide and Copolymers, Guar Gum & Derivatives, Casein, Polyvinyl Alcohol, Gelatin, Polyacrylic Acid and others), Application (Wastewater Treatment, Cosmetics and Personal Care Products, Oil & Gas, Food, Pulp and Paper, Pharmaceuticals and others) and Region (North America, Europe, Asia-Pacific, South America and the Middle East & Africa) – Forecast till 2028
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