Prepared by the hydrolysis of acrylonitrile, acrylamide is one of the major components used to synthesize polyacrylamide. Both are used in several industrial processes such as wastewater and water treatment, binders for seed coatings, printing ink emulsion, ore processing, and others. The applications of acrylamide in these industries are increasing the global acrylamide market size. Acrylamide has been present in food for ages; however, it came into limelight in April 2002. Acrylamide in bread, potato chips, French fries, cookies, and others has created a ruckus amidst the current society. Although acrylamide's toxicity has become a concern and several organizations have put a restriction in its usage, investigators have not yet attained any conclusions. The investigations are based on rodent models, and nothing specific has been identified in humans. However, recent research in 2018 shows that there is a progress of acrylamide-based multicolor and rapid fluorogenic probes, as a profoundly affected chemical tool for the study of protein function in living cells and organisms. This breakthrough can create a revolutionizing movement in the chemical history of mankind, which would create further scopes for the acrylamide business leaders in the upcoming years.
As of 2018, the Acrylamide Market size was evaluated at around $5.3 billion. It is expected to grow at a CAGR of 4.1% during the forecast period 2019-2025.
Acrylamide Market Analysis: Key Application
Usage of acrylamide across the world is not restricted to the procedures mentioned above, as it is also used in cosmetics, plastics, paper, glue, and others. However, notable utilization of acrylamide can be observed in the water treatment sector. Due to its high exclusion efficiency, several derived products from acrylamides are used in waste and sewage water treatments. Acrylamide principally settles down the impurities quickly after forming a heavy aggregate with the product. Australia has the world's largest lagoon-based wastewater treatment plant and biodiversity, where 92% of the collected wastewater is treated.
Furthermore, the European Investment Bank financed around $2.4 billion for water-related projects, including wastewater treatment. Moreover, China aims for a wastewater treatment rate of at least 70% for most urban areas by 2020, increasing the urban wastewater treatment capacity by 23%. These array of figures evinces the progress of the acrylamide market in the upcoming years. The application of acrylamide in water treatment sector is going to escalate at a CAGR of 6.2% throughout 2025.
APAC Acrylamide Market Overview:
The outgrowing demand for textile and the growing agriculture industry of India, China, and others are contributing to the enlargement of the acrylamide market share in APAC. By the end of 2018, the APAC acrylamide market share accounted for 55% amongst the global business. Here are the factors that are influencing the region's acrylamide market -
· India's Inclination towards Hydroponics to Create an Impact on the APAC Acrylamide Market –
Acrylamide derivatives are used in agriculture in the bone cement binding for crops that are grown hydroponically. The hydroponic industry is setting up roots, all across India. From Herbivore Farms to Terra Farms, this technology has even helped the 31-year-old founder of Green Rush Organics to set up a huge plant in a limited space. Several policies are being started by the government to implement this new technology. Even the government is planning to double the farmers' income by 2022. These statistics are evidencing enough of the robust hydroponic demand in India, which will be supporting the APAC acrylamide market growth.
· India's Textile and Apparel Industry to Create Opportunities for Acrylamide Market Leaders –
Polymers of acrylamide are applied in the textile industry owing to their water-repellant and shrink-proof properties. India plans its textile and apparel exports to reach $80 billion by 2020. The investment of several luxury brands of Italy, Britain, and America in the long term is forecasting a bright textile industry for India. This will directly drive the APAC acrylamide market.
· China's Mineral Resources and Reserves to Boost the Acrylamide Marketplace –
In 2017, the Ministry of Land and Resources filed 2,604 reports on mineral resources and reserves in China. Amongst these, 2,401 were reported non-oil and gas minerals while 203 were reported about oil and gas. Derivatives of acrylamides are used in oil recovery process due to its high molecular weight and viscosity. Also, acrylamides are used in mining as it restricts water flow in structures and keeps the dams, tunnels, and mineshafts stabilized. Hence, with the recorded number of mines and reserves in China, the acrylamide market is going to expect an upsurge in the upcoming years.
Acrylamide Market Trends & Growth Drivers:
Acrylamides such as N-methylol acrylamide, N-butoxyacrylamide, N-(Hydroxymethyl) acrylamide, and others are gaining ground for their versatile features. Constant R&D is being done on its development, and it has generated around 9,082 number of patents in the last 5 years. Here are the trends and the growth drivers that are spurring the global acrylamide market –
· Global Food Packaging Industry to Contribute to the Expansion of Acrylamide market –
Acrylamide derivatives are used in food packaging, paper plates, and others. The global fresh food packaging market was valued 6.03 billion in the year 2017 and estimated to grow at a CAGR of more than 5% from 2018 to 2023. This data is attributing to the acrylamide market growth in the next years.
· Surging Need for Diapers to Create Demand Influx in the Market –
Several reports suggest that one spends $2,500 or more on diapers by the time the baby reaches the time it is potty-trained. The highly absorbent property of acrylamide makes it a primary component of diapers. Hence, with the growing need for diapers, the global acrylamide market will flourish further.
· Acrylamide Market to Gain Ground by Polyacrylamide in Contact Lenses –
Polyacrylamide, one of the derivatives of acrylamide, has made a mark in the biomedical field in recent years. While it is being found in cosmetics, medicines, and others, the most significant usage of it can be seen in contact lenses in a hydrogel format due to its hydrophilic and bioinert properties. As per the reports of Centers for Disease Control and Prevention, around 45 million people in the US wear these contact lenses. Hence, the US acrylamide market will grow in the upcoming years, benefiting several market vendors.
Acrylamide Market: Competitive Landscape
The principal business leaders who are currently holding maximum acrylamide market shares in the world and are focusing on the expansion of their manufacturing capacity to gain an edge over other market players are SNF, Kemira Oyj, INEOS, Petrochina Daqing Petrochemical Co., Ltd., Rudong Huasheng Chemical, National Aluminium Company Limited, Beijing Hengju Chemical Group Corporation, BASF SE, and Ashland Global Specialty Chemicals Inc.
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