Water-Soluble Polymer Market Share

APAC Market Statistics

The market in the Asia Pacific region witnessed modest growth in 2020 and is estimated to grow notably over the forecast period on the back of the growing chemical industry in the region, and the presence of major end-user industries for water-soluble polymers, including the paper & pulp industry, textile industry, and food & beverages industry. According to the report by the Asia-Pacific Economic Cooperation (APEC), the chemical industry of the APAC region represents more than 45% of global chemical production. Moreover, As reported by the Government of India's Ministry of Jal Shakti, the proportion of rural residents with access to clean and sufficient drinking water within locations improved to 61.5% in FY 2022 from 55.2% in FY 2021. In addition, numerous firms in India, including Suez, Abengoa, and SPML Infra, are spending money on water treatment assignments, which are projected to fuel the Asia Pacific market. Also, water-soluble polymers are widely produced and consumed in China. As the wastewater treatment sector expands throughout the projection period, regional requirements for polymers including polyacrylamide, a frequently employed flocculating and coagulating compound in treating wastewater, are likely to rise and expand the market growth.

North American Market Forecast   

The market in the North American region is anticipated to gain a noteworthy market share throughout the forecast period owing to the increasing production of shale gas, and other petroleum products in the region. The increasing use of these polymers in the extraction of shale gas is expected to boost regional market growth. The oil and gas industry's rising requirement for these components is mostly for drilling, well conclusion, manufacturing, and enhanced oil recovery procedures. The enhanced oil recovery technique will likely grow into a substantial component of the extraction of oil and gas operations as the United States proceeds to improve fracking technology, fueling regional market expansion. Growing demand from the oil and gas sector is expected to drive the expansion of the market, owing to the better customizability afforded by these polymers over conventional injection fluids used in enhanced oil recovery.

Europe Market Forecast

Europe is expected to increase at a rapid pace throughout the projected time frame, owing to increasing demand from the detergent and personal care product industries. Water-soluble polymers are used as additions in commercial liquid laundry detergents and liquid dishwashing products. Rising consciousness about the benefits of staff hygiene during the COVID-19 pandemic is predicted to drive consumer demand for detergent items, boosting the development of the water-soluble polymers industry.