The global acrylamide market is projected to attain a valuation of USD 3.65 billion in 2023 and is estimated to reach USD 5.5 billion by 2033 while exhibiting a CAGR of 4.1% during the forecast period.
The growing demand for the enhanced oil recovery (EOR) process is expected to drive the acrylamide market, as polyacrylamide is widely used in this process.
Acrylamide is a chemical compound formed by nitrile hydratase hydrolysis of acrylonitrile. Acrylamide is primarily used in industrial processes to create polyacrylamides, which are water-soluble thickeners. Around 90% of acrylamide's total use is for the production of polyacrylamide. It can be found in cigarette smoke. Acrylamide is produced during the cooking of carbohydrate-rich foods.
Acrylamide serves as a chemical intermediate in the synthesis of N-methylol acrylamide and N-butoxy acrylamide. It is used as a superabsorbent in both medical and agricultural products, such as disposable diapers. Also, a small amount of acrylamide is used in adhesives, seed-coating binders, and printing ink emulsions. Acrylamide is also used in textile printing paste and as a water retention aid.
Acrylamide plays a crucial role in economically recovering unconventional gases through hydraulic fracturing. The United States had planned to invest around USD71.1 billion in new shale gas capacities in 2020, which is expected to drive demand in the global market, given the need for hydraulic fracturing operations.
Europe holds significant shale gas reserves and similar reserves are abundant worldwide. As fracking applications increase globally, the consumption of acrylamide in the global market is expected to soar, fueled by the rise in shale gas extraction activities.
| Attributes | Details |
|---|---|
| Expected Market Value (2023) | USD 3.65 billion |
| Anticipated Forecast Value (2033) | USD 5.5 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 4.1% |
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The market of acrylamide was worth USD 3 billion in 2018 and it reached a valuation of USD 3.49 billion in 2022 while securing a CAGR of 3.8% during the forecast period. The acrylamide market is projected to experience growth due to the increasing demand for convenience foods.
Convenience foods, characterized by pre-packaged and easy-to-prepare meals, are favored by consumers for their time-saving nature and suitability for busy lifestyles. This demand is influenced by changing consumer behavior and modern fast-paced lifestyles, which lead to limited time for cooking and food preparation. As a result, convenience foods provide a quick and easy solution to meet the needs of individuals seeking convenient meal options.
The demand for acrylamide is anticipated to be fueled by its increasing use in various sectors, including gel electrophoresis, ore processing, tertiary oil refining, and dyes and plastics synthesis. Notably, the utilization of acrylamide monomers in producing polyacrylamide, widely applied in wastewater treatment operations, is a significant market driver.
Developed nations, due to stringent environmental regulations, are adopting polyacrylamide for wastewater treatment, leading to substantial growth in the acrylamide market in the foreseeable future. This trend is expected to drive significant revenue in the market in the forthcoming period.
The demand for acrylamide is projected to rise with a CAGR of 4.1% during the forecast period.
Acrylamide is a chemical that is widely used in the water treatment industry. As a result, the global acrylamide market is being driven by stringent environmental regulations governing the disposal of sewage water. Acrylamides are also in high demand in the oil and gas industry due to increased oil recovery requirements.
The expanding petroleum industry is also expected to be a key driver of global acrylamide market growth during the forecast period. In the forthcoming years, the growing food and beverage industry is expected to fuel the global acrylamide market.
People's changing lifestyles, combined with an increase in the use of convenience food products, are also expected to be significant factors driving the global acrylamide market in the coming years.
Rising consumer awareness of proper hygiene is increasing demand for personal care products propelling the medical sector. Further, the expanding medical sector is expected to have a positive impact on the expanding acrylamide market. The expansion of the adhesives and sealants industry is also expected to fuel demand for acrylamide, propelling the global acrylamide market.
Acrylamide is acquired through contact with cooked foods and tobacco smoke. The negative health effects of this exposure are expected to be a key impediment to the global acrylamide market.
The global acrylamide market is broadly segmented geographically into seven regions. China has a significant market share and is expected to continue to be the leading consumer of acrylamide throughout the forecast period.
The market in Asia Pacific is projected to expand at a CAGR of 4% during the forecast period. Growing disposable income in developing countries is increasing the demand for convenience products, assisting the global acrylamide market to grow.
In the recent past, several new development wells drilled in China reached 15,178, representing a 4.9 percent increase over the previous year's value. Because of the country's shale gas development, this trend is expected to continue in the coming years.
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Geographically, Europe’s acrylamide market is anticipated to expand steadily at a CAGR of 3.9% between 2023 and 2033. The United Kingdom is expected to account for a significant market share of 14.2% in 2023. Further, the demand for acrylamide in the United Kingdom is expected to rise with a CAGR of 4.2% during the forecast period.
The expansion of the oil and gas and water treatment sectors has an impact on regional product consumption. According to a new European Commission report published in November 2021, approximately 1.2 percent of urban wastewater in the European Union is still not collected, and nearly 6 percent is not adequately treated.
According to the commission, investments in some Member States are still slightly low to ensure compliance with the Urban Wastewater Treatment Directive (UWWTD). As a result, increased government investments are expected in the coming years, which is likely to benefit regional product suppliers.
Use of Acrylamide for Water Treatment Expected to Drive Market Growth
In 2023, the market is expected to be dominated by the demand for polyacrylamide in water treatment applications, holding a revenue share of over 38.7%. The demand for acrylamide in water treatment is projected to expand at a CAGR of 5% during the forecast period. Additionally, the increasing need for polyacrylamide in treating municipal sewage, industrial wastewater, and drinking water purification plants is anticipated to drive its demand further.
The water treatment industry's growing significance in the eyes of government regulatory bodies in various countries is expected to positively influence market growth. Furthermore, the oil & gas industry is projected to witness an increase in demand for polyacrylamide over the forecasted period, as the product enhances oil recovery efficiency.
Start-ups play a vital role in identifying growth prospects and fostering industry expansion by efficiently converting inputs into outputs and adapting to volatile market conditions. Moreover, in the acrylamide market, several start-ups are actively involved in manufacturing and providing related services.
The acrylamide market is highly competitive, with key industry players making substantial investments to enhance their manufacturing capabilities.
The key industry players are Firestone, Complete Auto Care, Meineke, Jiffy Lube, Midas, Safelite Group, Monro Muffler Brake, Mitsui Chemicals, In, Zhejiang Xinyong Biochemical Co., Ltd, SNF Group.
Recent Developments in the Acrylamide Market
| Report Attributes | Details |
|---|---|
| Market Value in 2023 | USD 3.65 billion |
| Market Value in 2033 | USD 5.5 billion |
| Growth Rate | CAGR of 4.1% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USS billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By end-use, By region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East and Africa |
| Key Countries Profiled |
The United States of America, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, China, Japan, South Korea, Australia, New Zealand, South Africa, Israel, GCC countries, Key Companies Profiled |
| Firestone; Complete Auto Care; Meineke; Jiffy Lube; Midas; Safelite Group; Monro Muffler Brake; Mitsui Chemicals, In; Zhejiang Xinyong Biochemical Co., Ltd; SNF Group | |
| Customization | Available Upon Request |
The global market value is pegged at USD 3.65 billion for the year 2023.
The global market size was around USD 3.49 billion in 2022.
Higher adoption hydraulic fracturing for fossil fuels is driving the market.
The global market value is expected to follow 4.1% CAGR through 2033.
Top market players include Firestone, Complete Auto, and Meineke.
| Market Share (2023) | USD 1.24 billion |
|---|---|
| Market Projected Size (2033) | USD 3.64 billion |
| Market CAGR (2023 to 2033) | 11.3% |
| Expected Market Value (2023) | US$ 7.68 billion |
|---|---|
| Projected Market Value (2033) | US$ 18.7 billion |
| Growth Rate (2023 to 2033) | 9.3% CAGR |
| Market Value (2022) | USD 2.1 billion |
|---|---|
| Market Forecast Value (2032) | USD 4.62 billion |
| Market Expected CAGR (2022 to 2032) | 8.2% |
| Expected Market Value (2022) | USD 8.4 Billion |
|---|---|
| Anticipated Forecast Value (2032) | USD 15 Billion |
| Projected CAGR (2022 to 2032) | 5.91% |
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Acrylamide Market
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