Polyamines market is poised to surpass US$ 200 Mn by 2024 and is set to grow at a steady 4% during the forecast period (2020-2030). Polyamines is a key water treatment chemical and coagulant used for treatment of discharged waste water. Though coagulants constitute a major share of the market, shale inhibitors are growing at a faster rate owing to their high demand in oil & gas well explorations.
Key stakeholders such as Kemira Oyj, BASF S.E, and SNF Floegler are leaning towards polyamines to utilize in the oil & gas industry. This is primarily due to the shrinking demand for coagulant applications backed by the presence of unreacted epichlorohydrin on polyamine colloids in potable water. This has led the US government to enforce a ban on utilization of polyamines for potable water treatment.
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Key takeaways of Global Polyamines Market
- The global polyamines market is anticipated to create a value opportunity of around US$ 200 Mn during the forecast period, adding 1.4X times more value as compared to 2019.
- Market consolidation is set to affect the polyamines market by the end of 2030, with coagulants accounting for more than 60% of the market. Coagulant applications are projected to grow at just over 3% CAGR, as they are utilized to treat industrial effluent water released from industries.
- The decolouration application segment is anticipated to lose around 70 BPS in the forecast period of 2024-2030.
- By end-use, the oil & gas industry is set to grow at a moderate 3.8% during the forecast period and is set to gain 30 BPS through 2030.’
- Europe holds the leading share and accounts for more than 40,000 tons of polyamines production to cater to the requisite demand from end-use industries in North America.
- South Asia & Oceania and East Asian markets are set to grow at a steady pace, together accounting for around 40% demand share globally.
- Global polyamines market is highly consolidated in nature with BASF SE, SNF Floegler and Kemira Oyj as top contenders in the global market.
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“Elasticity in demand and price fluctuations are set to inhibit market growth of polyamines amid the COVID-19 pandemic. This could hurt market position of other water treatment chemicals,” says a Fact.MR analyst.
Manufacturers Adopting Organic Strategies to Increase their Foothold in Polyamines Market
Polyamines market stakeholders such as SNF, Kemira, and BASF are keenly looking at high demand growth of polyamines across different regions for greater product penetration in strategic markets. Stakeholders such as SNF are also trying to ramp up production to keep up with demand so as to enhance profit margins and also to strengthen their position in the market, thus, leading to lower competition among the market players.
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