Global Water-Soluble Polymer Market Key Insights
During the forecast period of 2023-2035, the global water-soluble polymer Market is expected to reach an estimated value of ~USD 60 billion by 2035, by expanding at a CAGR of ~5.5%. The market further generated revenue of ~USD 35 billion in the year 2022. The water-soluble polymer is used in the treatment of water and enhances oil recovery. Therefore, major key factors propelling the growth of the water-soluble polymer market worldwide are the growing need for clean water and the higher demand for petroleum.
Market Definition of Water-Soluble Polymer
Water-soluble polymers are material that disperses, dissolves, and swell in water. Water-soluble polymers can be used as suspending agents, coagulants, dispersants, and lubricants in an aqueous medium. Moreover, it transformed the physical properties of the aqueous system. These polymeric substances help the treatment of polluted waters by aiding the adsorption process. Furthermore, by coupling the polymers with inorganic moieties like metal oxides, these crosslinked polymers can be used to create more advanced substances such as (nano)-composite and hybrid adsorbents.
Global Water-Soluble Polymer Market: Growth Drivers
The growth of the global water-soluble polymer market can majorly be attributed to the growing need for freshwater followed by the rising number of people affected by contaminated water. The global demand for fresh water is expected to rise by 40% by 2030. Fresh water is also needed for agriculture, and agriculture draws around 70% of total fresh water. Therefore, with the rising demand for food that is to grow by around 69% by 2035, the demand for freshwater will further be propelled. Furthermore, according to the World Health Organization, every year, around 829,000 people die due to diarrhea caused by unhygienic drinking water. On the other hand, the market growth can also be attributed to the rising demand for crude oil. The demand for crude oil in 2020 was around 91 million barrels per day, the demand was further boosted to nearly 97 million barrels per day.
The global water-soluble polymer market is also estimated to grow majorly on account of the following:
- Growing Percentage of Polluted Water on Earth
- Rising Use of Water Treatment and Need for Fresh Water
- Surging Production of the Oil and Chemical Industry
- Rising Constructional Activities
- Growing Demand of Water-Soluble Polymers in Pharmaceutical Industry
Global Water-Soluble Polymer Market: Restraining Factor
The aqueous by-product of soluble polymers stays in the soil and acts as a pollutant in the environment. Besides this, there is not a well-established supply chain for water-soluble polymers and fluctuating prices of water-soluble polymers. Hence, these factors are expected to be the major hindrance for the growth of the global water-soluble polymer market during the forecast period.
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Global Water-Soluble Polymer Market Segmentation
- By Type (Natural, and Synthetic)
By Material (Guar Gum, Polyvinyl Alcohol, Casein, Gelatin, and Others)
- By Application (Food & Beverages, Pharmaceutical, Water Treatment, Detergent, Oil & Gas, and Others)
The pharmaceutical segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the growing consumption of prescribed medicines. In 2020, FDA approved 20,000 drugs. Moreover, in the United States, around 66% of adults consumed medicines in 2021. Additionally, in Australia, around 35% of people take prescription drugs every day. Furthermore, in 2020, the pharmaceutical market was valued at USD 1200 billion.
- By Region
The Asia Pacific water-soluble polymer market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The market growth in the Asia Pacific is to grow on the account of a rise in the portion of contaminated water followed by a rise in the water facilities set up in the region. About 70% of India’s surface water is thought to be unsafe for human consumption. Each day, around 40 million of polluted water is ejected into rivers or lakes and only a small portion is properly treated. Furthermore, China invested $81.6 billion in its urban wastewater infrastructure from 2015 to 2020, according to the China National Bureau of Statistics. Moreover, in January 2020, there were around 10,000 water treatment facilities in China, which handles 95% and 30% of municipal and rural wastewater, respectively. In addition to this, in 2020, around 40,000 wastewater treatment facilities were built in China. Besides this, the rising production of chemicals in the region is also expected to create numerous opportunities for market growth. The chemical industry in the APAC region accounts for more than 45% of all chemical production worldwide, according to research from the Asia-Pacific Economic Cooperation (APEC).
The market research report on global water-soluble polymer also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Water-Soluble Polymer Market
Some of the key players of the global water-soluble polymer market are Ashland Global Holdings Inc., Kuraray Co., Ltd., Nitta Gelatin, Inc., SIKA AG, The Dow Chemical Company, SPCM S.A., L G CHEM Ltd., DuPont de Nemours, Inc., Arkema S.A., BASF SE, and others.
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