Water soluble polymer market grows 6% annually

Source: China Chemical Industry News August 5, 2019

A research report released by United Market recently stated that the global water-soluble polymer market is expected to be US$33.1 billion in 2017 and will reach US$52.74 billion by 2025, during which the average annual growth rate is expected to be 6.0%. The main industries driving the growth of the global water-soluble polymer market are water treatment and enhanced oil recovery plants. The continued rise in the price of water-soluble polymers hinders market expansion, and the growing demand of emerging economies in the Asia-Pacific region will continue to promote the expansion of the water-soluble polymer market.

In 2017, polyvinyl alcohol accounted for the largest share of the global water-soluble polymer market, accounting for more than 1/3 of total sales, mainly due to its increasing consumption in end-user industries such as textiles and pharmaceuticals. In addition, during the forecast period, the annual average growth rate of guar gum and its derivatives will reach a maximum of 6.5%, mainly due to the increasing demand for products in end-user industries such as papermaking, pulp and oil and gas. The demand for other types of water-soluble polymers such as polyacrylamides and copolymers, casein, gelatin, polyacrylic acid and copolymers will continue to grow.

Due to the increase in global crude oil production, the oil extraction industry needs to strengthen oil recovery to increase production,In 2017, the oil industry's demand for water-soluble polymers accounted for the largest share, accounting for about 24% of the market value. Other industries include water treatment and paper making.

Divided by region,In 2017, the Asia-Pacific region accounted for the largest market share, accounting for about 41% of the market value, mainly due to the rapid economic development and the rapid growth of pharmaceutical product production. With the rapid development of urbanization and the growth of consumption of processed foods and medicines, the compound annual growth rate in North America will reach 6.5%. Demand from other regions including Europe and Latin America, the Middle East and Africa will also maintain steady growth.