Water-Soluble Polymer Market size is estimated to surpass USD 74 Billion by the end of 2035, witnessing around 5.5% CAGR during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of water-soluble polymer was USD 36.9 Billion. The growth of the market can be attributed to the increasing use of these polymers in a variety of end-user industries. The chemical industry is a major component of the economy. The rise in the chemical industry is projected to spur the product supply. According to the World Bank, the Chemical industry in the U.S. accounted for 16.43% of manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in the future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030.
Furthermore, the expanding demand for bio-based acrylamide and its increasing usage in the pharmaceutical business is expected to most certainly provide manufacturers with several prospects. Its applications in processing minerals, wastewater from factories and municipalities treatment, oil sand tailings dewatering, paper manufacturing, and biotechnology are also likely to contribute to market growth over the projection period.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~5.5% |
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Base Year Market Size (2022) |
~ USD 36.9 Billion |
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Forecast Year Market Size (2035) |
~ USD 74 Billion |
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Regional Scope |
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Type (Natural, Synthetic)
The market is segmented and analyzed for demand and supply by type into natural, and synthetic. Out of these, the natural segment is estimated to gain the largest market share of about ~57% in the year 2035. Natural water-soluble polymer outperform synthetic water-soluble polymer and provide easy access to ecological accreditation. Its ability to dissolve in both cold and hot water, biodegradable characteristics, and organic nature make it a high-performance, appealing, eco-friendly solution that fits the needs of consumers, regulations, and the community. Natural materials account for more than 90% of the water-soluble polymers utilized in food and beverage industries. In this end use, gelatin (from animal bones and hides) and casein (from milk) are used massively among all water-soluble polymers. Natural water-soluble polymers perform a wide range of functions in packaged foods, usually at modest levels of usage (less than 1% by weight).
Material (Guar Gum, Polyvinyl Alcohol, Casein, Gelatin)
The global water-soluble polymer market is also segmented and analyzed for demand and supply by material into guar gum, polyvinyl alcohol, casein, gelatin, and others. Amongst these segments, the guar gum segment is expected to garner a significant share of around ~35% in the year 2035. The Guar gum segment is expected to dominate the industry in the next years. Guaran, a water-soluble polysaccharide, accounts for 85% of the gum's composition. Guar gum is utilized as a food ingredient in the food and beverage sector owing to its stabilizing, thickening, and binding qualities, which provide a smooth texture. They extend the shelf life of prepared foods. likewise, the substance is frequently utilized in medicinal dosage forms, primarily as a binder in tablet production. Gaur gums are favored over synthetic plastics because they are non-toxic, economical, environmentally friendly, and widely available.
Our in-depth analysis of the global market includes the following segments:
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By Type |
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By Material |
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By Application |
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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.
Author Credits: Smruti Ranjan, Rajrani Baghel
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