Acrylamide Crystals segment to dominate the North America Acrylamide Market during 2020–2028
According to The Insight Partners market research study on “North America Acrylamide Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type and Application” is expected to reach US$ 1,455.40 million by 2028 from US$ 948.68 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the North America acrylamide market along with the drivers and restraints pertaining to the market growth. Surging demand for wastewater treatment, fostering growth of the chemicals and materials industry, and growing demand for enhanced oil recovery are the major factor driving the growth of the North America acrylamide market. However, health issues associated with exposure to acrylamide hinders the growth of North America acrylamide market.
The North America acrylamide market is segmented on the basis of product type, application, and country. Based on product type, the market is segmented into acrylamide water solution and acrylamide crystals. In 2020, acrylamide crystals segment held the largest share in the market and it is also expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into water and wastewater treatment, enhanced oil recovery, cosmetics, paper manufacturing, chemical intermediate, textiles, and others. In 2020, water and wastewater treatment segment held the largest share in the market, enhanced oil recovery is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into the US, Canada, and Mexico. In 2020, the US held the largest share in the market, and it is also expected to be the fastest growing country during the forecast period.
Ashland Global Holding Inc.; SNF; Kemira OYJ; BASF SE; Mitsui Chemicals Global, Pvt. Ltd.; Ineos AG; Solvay; and Nuoer group are among the leading companies in the North America acrylamide market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For Instance, SNF will spend $ 300 million in 2021 and 2022 to increase manufacturing capacity in the United States. This investment will increase annual production at the Plaquemine, Louisiana facility by 30,000 tonnes (t) of polyacrylamide and 100,000 tonnes of acrylamide monomer.
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