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Water-Soluble Polymer Market Recent Trends and Business Opportunities During 2023-2035.

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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.

Know More About the Complete Study @ https://www.researchnester.com/reports/water-soluble-polymer-market/3533

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