Water soluble polymer are hydrocolloids that are widely used in the waste water treatment, paper industry, petroleum industry, and other industries. These polymers are widely used in the water treatment plant for separating solid waste from water. Therefore, they are majorly used in municipal and industrial waste water treatment. There are numerous water soluble polymers available in the market. For instance, polyethylene glycol is used as an inactive ingredient and as a solvent, plasticizer, surfactant, ointments and suppository base, and tablet and capsule lubricant in the pharmaceutical industry. Maleic anhydride is another water soluble polymer, which is widely used in the manufacturing of detergents.
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According to a new report published by Allied Market Research, titled,"Water soluble polymer market by Type and Application: Global Opportunity Analysis and Industry Forecast, 2018 - 2025",the global water soluble polymer market was valued at $33,096.8 million in 2017 and is projected to reach $52,737.2 million by 2025, growing at a CAGR of 6.0% from 2018 to 2025. The water soluble polymer market in the Asia-Pacific region accounted for nearly two-fifths share of the total market revenue in 2017.
Polyvinylpyrrolidone is a nonionic water-soluble polymer that is used in various applications such as hair spray and hair gel.
Increase in demand for water soluble polymer in water treatment in the developing regions, such as Asia-Pacific and LAMEA, drives the growth of the market. In addition, steady rise in the demand for water soluble polymer in enhanced oil recovery further supplement the market growth. However, high price of water soluble polymers is expected to hamper the growth of the market. Conversely, increase in demand for water soluble polymers in emerging economies is expected to create lucrative growth opportunities for the market.
Based on type, the market is categorized into polyacrylamide & copolymers, guar gum & derivatives, polyvinyl alcohol, casein, gelatin, polyacrylic acid & copolymers and others. The guar gum & derivatives is the most lucrative segment of the market, owing to its easy availability and low price. Guar gum & derivatives segment is predicted to hold a share of over 8% by the end of 2025.
Based on application, the market is segmented into water treatment, detergents & household products, paper making, petroleum, and others. The detergents & household products segment is estimated to grow at the highest CAGR during the forecast period. This segment is predicted to hold a share of nearly 20% by 2025. The water soluble polymer serves as an anti-redeposition agent in detergents and household products. Furthermore, large per capita consumption of detergents & household products in emerging economies has led to the higher growth of the segment.
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According to Onkar Sumant, Manager, Energy & Power at Allied Market Research, Polymer manufacturers and research institutions across the globe have heavily invested in developing high-quality, low-price water soluble polymers. Furthermore, research is conducted on various manufacturing techniques, which are mediated to increase productivity.
Key Findings of theWater Soluble Polymer Market:
- Based on type, the polyvinyl alcohol segment accounted for more than two-fifths share of the global water soluble polymer market in 2017 in terms of value
- Based on application, the water treatment segment accounted for nearly two-sevenths share of the global water soluble polymer market in 2017 in terms of volume
- Based on application, the detergents & household products segment is anticipated to grow with the highest CAGR of 6.5% during the forecast period in terms of revenue
- U.S. occupied nearly half share of the North America water soluble polymer market in 2017 in terms of revenue
In 2017, Asia-Pacific and North America collectively accounted for more than two-thirds of the global water soluble polymer market, in terms of value. This is attributed to the decent growth of the water treatment industry as well as pharmaceutical and food & beverage industries using water soluble polymers. Furthermore, constant technological advancements due to heavy investment in R&D is the key factor responsible for introducing new improved formula in water soluble polymers, which in turn facilitates the growth of the North America water soluble polymer market. Asia-Pacific witnessed significant adoption of water soluble polymers in various industries such as paper industry, waste water treatment, petroleum, food & beverages, and cosmetics in recent years. Moreover, increased demand for water soluble polymers from the developing nations, such as China and India, and rapid urbanization are expected to facilitate the growth of the market.
The key players analyzed in this report are The Dow Chemical Company, BASF SE, Ashland, SNF Group, Kemira, J.M. Huber Corporation, KURARAY CO., LTD., Barzaghi Srl, Mitsubishi Chemical Holdings Corporation and GELITA AG.
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