Market Forecast
Global Acrylamide Market is expected
to exhibit a CAGR of around 4% during the forecast period and cross USD 4.5
Billion in value by 2027.
Acrylamide is an organic compound
with the chemical formula C3H5NO. It is a white, odorless solid, soluble in
water and several organic solvents, which is extensively used as a precursor of
polyacrylamide and acrylamide copolymers.
Regulatory Framework
Regulatory bodies such as The
European Union and FDA regulate the use of acrylamide in food products by
setting lower benchmark values of acrylamide market.
Regulation 2017/2158 establishes best
practices, mitigation measures, and benchmark levels for the reduction of the
presence of acrylamide in food.
In the year 2016, the FDA developed
Guidance for Industry that outlines strategies to help growers, manufacturers,
and foodservice operators reduce acrylamide in the food supply.
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Segmentation
By Application
This segment is further segmented
into water & wastewater treatment, enhanced oil recovery, cosmetics, paper
manufacturing, chemical intermediates, textile, and others.
The water & wastewater treatment
segment accounted for the largest market share in 2018 on account of the growing
industrial development across the globe. Industries produce wastewater
effluents in large quantities, which makes it necessary to treat this water. If
not treated, this wastewater results in diseases such as diarrhea, and skin and
tissue infections.
Enhanced oil recovery is projected to
be the fastest-growing segment during the assessment period. This is attributed
to the fact that enhanced oil recovery produces 30-60% more oil at the
reservoir site. The increasing demand for oil as gasoline, diesel, jet fuel,
and others is projected to drive the demand for acrylamide in enhanced oil
recovery.
The rising demand for cosmetics due
to the consumers’ increasing concerns about looks is projected to fuel the use
of acrylamide in cosmetics as a stabilizer, binder, and thickener. It is mostly
found in cosmetics products such as skin cleansers, moisturizers, lotions &
creams, hair care, and nail care products, among others.
It is used as a strengthening and
reinforcing agent in paper manufacturing. Polyacrylamides are used as binders
and retention aids for fibers and to retain pigments on paper fibers in the
pulp & paper industry.
Acrylamide finds use as a chemical
intermediate for the production of organic chemicals. These chemicals are used
as a feedstock for medical, pharmaceuticals, and agricultural applications.
Polyacrylamides (a polymer of
acrylamide) are used to size and shrink-proof material and as water repellents
in the textile application. The use of polyacrylamides can improve the
tackiness, permeability, and desizing performance.
The others segment includes mining,
agriculture, dyes, plastics, and adhesives.
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By Region
North America: Market growth in North
America is driven by the presence of a large industrial base in the region.
Expanding end-use industries, especially oil & gas, power generation,
chemicals, and others are the key factors driving market growth.
Europe: The European region is a
well-established market. Increasing demand for acrylamide across major end-use
industries is expected to propel the market growth. The automotive industry in
the region is the key factor driving the demand for acrylamide-based coatings
in the region.
Asia-Pacific: It is the
fastest-growing regional market. The increase in water & wastewater
treatment carried out in the region due to the fast-paced industrialization is
a prime factor driving the regional market growth.
Latin America: Rapid industrialization
in countries such as Brazil and Mexico is projected to drive market growth
during the assessment period.
Middle East & Africa: The
presence of large oil & gas reserves coupled with high exploration
activities in the region is positively influencing the demand for acrylamide.
NOTE: Our Team of Researchers is
Studying Covid19 and its Impact on Various Industry Verticals and wherever
required we will be considering Covid19 Footprints for Better Analysis of
Market and Industries. Cordially get in Touch for More Details.
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