Acrylamide Market Size, Share & Industry Analysis, By End-Use Industry (Water & Wastewater Treatment, Pulp & Paper, Oil & Gas, Mining, and Others), and Regional Forecast, 2024-2032

The global acrylamide market size was valued at USD 3,743.9 million in 2023. The market is expected to grow from USD 3,902.7 million in 2024 to USD 5,539.8 million by 2032 at a CAGR of 4.5% during the forecast period. Asia Pacific dominated the acrylamide market with a market share of 52.82% in 2023.

Acrylamide is a colorless, odorless, and organic substance produced primarily through a chemical reaction called the hydration of acrylonitrile. It is utilized in the creation of polyacrylamide (PAM), which is used for various purposes, including as a flocculent in water purification, as a recovery agent for oil in refineries, as a stabilizer in the paper industry, and as a water-repellent agent in the textile sector. Attributed to its versatile characteristics, it has become an essential chemical compound in these applications and has historically driven the market growth. The expansion of the paper industry and the rising demand for textiles due to rapid urbanization in developing nations such as China, India, Indonesia, South Africa, Poland, and others are set to drive the global acrylamide market growth during the forecast period.

The COVID-19 pandemic adversely affected the market, primarily due to global lockdown measures that halted import-export operations. These restrictions, travel bans, and disruptions in supply chains led to economic uncertainty. Production delays across key sectors such as textile, mining, and construction resulted in reduced sales revenue in 2020. Furthermore, these industries reached unprecedented lows, and chemical compounds reliant on these sectors, such as acrylamide, experienced a similar downward trend during the pandemic.

Acrylamide Market Trends

Momentum Toward Bio-based Acrylamide to Create Lucrative Opportunities in the Market

Conventional product production typically relies on fossil-based feedstocks such as acrylonitrile derived from petrochemical sources. This process contributes to greenhouse gas emissions and environmental degradation associated with fossil fuel extraction and processing. In response, several leading market players such as Kemira, Mitsui Chemicals, Inc., and SNF have developed bio-based acrylamide to offer a more sustainable alternative by utilizing renewable feedstocks, thereby reducing dependence on finite fossil resources and mitigating environmental impact. Bio-based products can be used in industrial applications such as conventional ones, including water treatment, paper manufacturing, textiles, construction materials, and other specialty chemical applications. In addition, companies are also using biobased catalysts to make the production process eco-friendlier. Therefore, the momentum toward bio-based products and the commitment to sustainability by market players will create remunerative opportunities in the market.

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Acrylamide Market Growth Factors

Surging Demand for Crude Oil and Ongoing Exploration Initiatives to Drive Product Demand

The chemical product is utilized in the extraction, exploration, and improvement of oil recovery processes by making the injected water thicker, thereby aiding in the movement of oil trapped in underground reservoirs toward the extraction equipment. The rising need for oil and gas by leading economies has expanded their production capacities. For example, the U.S. Energy Information Administration reports that in 2022, the natural gas output of the U.S. reached approximately 4.9 billion cubic feet/day, an increase of 4% from the previous year. Similarly, according to the U.S. Department of Commerce, the UAE produces an average of 3.2 million barrels of petroleum and liquids per day. The UAE's venture into exploration initiatives will open doors for new projects, particularly in exploring unconventional oil and gas reserves. Therefore, surging demand for crude oil and the aforementioned ongoing exploration initiatives are set to drive product demand.

RESTRAINING FACTORS

Hazardous Impacts Associated with the Product May Restraint Its Consumption

Despite several advantages and a broad application range, the market may face a few challenges as government bodies have published several documents on risks related to the chemical compound. The chemical compound is expected to end up in water, including leaching from soil into groundwater. It easily moves through the water, readily dissolves into the soil, and can travel long distances within the groundwater of extensive rock aquifers. According to the European Food Safety Authority (EFSA), its evaluations have confirmed that the chemical compound in food potentially increases the risk of developing cancer in all age groups. Other possible harmful effects of the compound are that it can impact the nervous system, pre- and post-natal development, and adversely affect male reproduction. Such hazardous impacts may restrain its consumption, reducing the market potential.

Acrylamide Market Segmentation Analysis

By End-Use Industry Analysis

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Water Treatment Held Majority Market Share Owing to its High Demand as Flocculants

Based on end-use industry, the market is classified into water & wastewater treatment, pulp & paper, oil & gas, mining, and others.

The water & wastewater treatment segment accounted for the major acrylamide market share in 2023. It is used in the form of PAM as a flocculant in water treatment processes. PAM is highly utilized in water and wastewater treatment applications as it can form large, robust flocs by bridging particles and enhancing their aggregation.

In addition, it is a key raw material in the paper production process. In papermaking, it acts as a retention aid, improving the retention of fine particles, fillers, and fibers during the paper formation process. This enhances paper strength, formation, and printability, driving product demand moderately until 2032.

The others segment comprises various end-use industries, including adhesives & sealants, cosmetic and personal care, electronics, and others. The chemical compound is used in the personal care and cosmetics industry for its ability to act as a forming agent and emulsion stabilizer. Similarly, owing to its several exceptional properties, its consumption in various niche applications will drive the segment’s growth steadily during the forecast period.

REGIONAL INSIGHTS

Based on region, the acrylamide market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

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Asia Pacific region identified as the largest consumer in the market in 2023. The dominance is attributed to the presence of leading economies such as China, India, and Japan. China is identified as the leading country in the Asia Pacific region. The substantial demand is mainly due to the ongoing massive-scale projects in China. For instance, China invested around USD 169 billion in establishing water conservancy projects in 2023 in order to expand the national water supply networks. The chemical compound is highly utilized in the water and wastewater treatment industry and such massive investments will maintain China’s dominance in the region.

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According to the U.S. Energy Information Administration, the U.S. has been the largest crude oil producer from 2019 to 2023 consecutively. The nation’s daily crude oil production, including condensate, averaged around 12.9 million barrels in 2023. The chemical compound is used in enhanced oil recovery processes as it improves the viscosity of injected water and enhances recovery rates. The U.S., being the world’s largest crude oil production hub, is set to drive product demand in the North American region during the forecast period.

Europe has accounted for substantial demand for the product, supported by leading economies such as Germany, France, and the U.K., which are among the top 10 manufacturing countries. Along with a vast manufacturing base, according to the U.S. Energy Information Administration, Russia was the second-largest crude oil producer in the world in 2023. As the product is highly utilized in the oil recovery process, the region will grow at a steady growth rate.

Latin America and the Middle East & Africa markets are projected to show moderate growth during the forecast period. Increasing industrialization in leading economies such as Brazil, Mexico, Saudi Arabia, UAE, and South Africa is projected to assist in market growth in these regions. In addition, according to Asia Pulp and Paper, a leading company in the pulp and paper industry, the Middle East’s annual paper consumption has doubled in the past decade, reaching up to 34 million tons in 2023. As it is an essential ingredient in the paper-making process, the region is expected to flourish in the foreseeable period with such huge demand.

KEY INDUSTRY PLAYERS

Key Players Are Adopting Backward Integration and Forward Integration to Remain Dominant

BASF SE, Black Rose, Kemira Oyj, Mitsubishi Chemicals, Mitsui Chemicals, Inc., and SNF Group are identified as key manufacturers in the global acrylamide market. The global market is highly consolidated, with a few producers accounting for around half of the worldwide production. Many major players operating in the market have adopted either backward or forward-integrated business models. Companies operating in the market strategically opt for organic and inorganic strategies to strengthen their market position. Leading players such as Kemira, Black Rose Industries Ltd., Mitsui Chemicals, Inc., and SNF Group were involved in strategies such as product launch, production capacity expansion, and backward integration to meet the growing demand for the product. Ongoing market consolidation may provide high bargaining power to market players over consumers. 

List of Top Acrylamide companies:

• BASF SE (Germany)


• Black Rose Industries Ltd. (India)


• Jiangxi Changjiu Agrochemical Co. Ltd (China)


• Kemira Oyj (Finland)


• Mitsubishi Chemicals (Japan)


• Mitsui Chemicals, Inc. (Japan)


• NUOER GROUP (China)


• SNF Group (France)


• Solenis (U.S.)


• Zhejiang Xinyong Biochemical Co., Ltd. (China)

KEY INDUSTRY DEVELOPMENTS:

• March 2023: Solenis acquired Diversey, a U.S.-based company that offers hygiene, infection prevention, and cleaning solutions. According to the company’s strategic approach, this step would create several attractive cross-selling opportunities, such as increasing the customer base for the water management business.


• February 2022: Kemira enhances its leadership role in offering eco-friendly chemistry solutions to industries that require a lot of water by initiating the initial global-scale production of its latest polymer, which is made from renewable resources. The initial large-scale batches have been delivered to a wastewater treatment facility in the Helsinki Region Environmental Services (HSY) for testing.


• June 2022: Black Rose Industries Ltd. established a commercial production plant in India to produce acrylamide solids. With this capacity expansion, the company claims to be the sole manufacturer of acrylamide solids globally, aside from China.


• December 2021: Black Rose Industries Ltd. declared the introduction of N-Methylol Acrylamide 48%, a byproduct of acrylamide liquid, was set to be released for sale in January 2022. It is primarily utilized as a monomer in creating latex binders and as a component of cross-linkable emulsion polymers across various sectors. With this organic strategy, the company expanded its revenue stream, which would result in higher sales revenue.


• February 2021: SNF, a leader in acrylamide, has committed to investing USD 300 million over the next two years to enhance its manufacturing capabilities in the U.S. With this investment, the company planned to increase its yearly production at its facility in Plaquemine, Louisiana, by 30 kilotons of PAM and an additional 100 kilotons of acrylamide monomer.

REPORT COVERAGE

The research report provides detailed market analysis and focuses on crucial aspects such as leading companies, and end use industry. In addition, it provides quantitative data regarding volume and value, market analysis, research methodology for market data, and insights into market trends and highlights vital industry developments and competitive landscape. In addition to the above-mentioned factors, the report encompasses various factors that have contributed to the market's growth in recent years.

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Report Scope & Segmentation