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.
The global Chemical Intermediates Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2020-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the chemical intermediates market include Dow, INVISTA, BASF SE, Akzo Nobel NV, Stepan Company, LG Royal DSM, SABIC, Chevron Corporation, Jay Chemical, Exxon Mobil Corporation.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Chemical Intermediates Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/chemical-intermediates-market/download-sampleMarket DynamicsBooming developed and developing economies coupled with a rise in demand from end-use industries such as pharmaceutical, agrochemical, automotive, petrochemical, lubricants, and others are steering the growth of the global intermediate chemical market.
Strengthening supply chain and the government plans to introduce incentives for industrial growth, further fostering the market growth.
Emerging economies like India and China presents abundant opportunities for market growth.
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