Super Absorbent Polymer Market : Size, Share, Outlook, and Global Opportunity Analysis, 2022-2030 | Yixing Danson Technology Co., Ltd.; Nippon Shokubai Co., Ltd.; Formosa Plastics Corporation
Market Overview
The global super absorbent polymer
market size is projected to expand at a noticeable CAGR from 2016 to 2023
(forecast period), according to a report by Market Research Future (MRFR).
Super absorbent polymers (SAPs) are hydrogels with the capacity to absorb huge
volumes of water but not dissolve easily. The cross-linked structure of these
polymers provides it with a wide scope in various sectors such as building
& construction, food packaging, personal care, and others.
Drivers and
Restraints
Rapid growth in the agricultural
sector due to high demand for food, urbanization, and continuous technological
advances are factors anticipated to augur market demand over the forecast
period. Rise in infrastructural projects due to migration to cities from rural
areas is anticipated to increase demand for SAPs. Increasing use of adult incontinence products and diapers augmented
by inflation in geriatric and pediatric
population is predicted to bode well for the super
absorbent polymer market. Industrialization and a spike in the
purchasing power of the middle class are
predicted to spur market growth. But high costs of raw materials can hamper
market growth.
Competitive
Scenario
Key market players include Yixing
Danson Technology Co., Ltd.; Nippon Shokubai Co., Ltd.; Formosa Plastics
Corporation; Sumitomo Seika Chemicals Company, Ltd.; and Sanyo
Chemical Industries, Ltd. Various strategies to differentiate themselves from
the competition are investments in
production facilities, diversification of products, and streamlining their
supply value chain. In May 2017, Sumitomo Seika Chemicals decided to increase
its production capacity by establishing a new production facility in South
Korea. This move can assist the company
in its expansion plans in Asia.
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Industry
News
Farm slurries are used as fertilizers
to improve soil quality and increase water retention to culminate in high
yields. Wyo-Ben, Inc., a U.S. firm, has designed a mineral-based SAP for
solidifying aqueous slurries. It also assists in preventing heavy metals by
capturing it at an early stage.
SAPs are being used in wound
dressings to increase its healing rate. According to a study in the Journal of
Wound Care, SAP-based dressings had recorded a wound management rate and reduce
pain levels of patients.
Segmentation
Analysis
The super absorbent
polymer market is segmented by type, end-use, and region. By type, the market is divided into sodium polyacrylate,
polyacrylamide copolymer, and others. Sodium polyacrylate and polyacrylamide
copolymer segments are anticipated to accumulate sufficient revenue by the end
of the forecast period.
Major end-use
industries include food packaging, building & construction, agriculture,
personal care, and others. The agriculture segment is anticipated to generate
high demand for quality crops. Awareness among farmers coupled with advances in
horticultural practice such as seed coating and root dipping are projected to
drive segment growth. Rising population in developing economies can also play a
huge role in fueling segment growth.
The personal care segment is
projected to generate significant revenue due to rising demand for female
hygiene products, adult incontinence products, diapers, and other applications.
High demand for baby diapers coupled with a rise
in purchasing power of consumers can bode well for the segment in the coming
years. Nations such as Brazil and China are expected to take the lead in
driving the segment demand.
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Geographically, the super absorbent polymer market is fragmented into the Middle East and Africa (MEA), Latin America, Europe, North America,
and Asia Pacific (APAC). The APAC market is anticipated to exhibit a high CAGR
during the forecast period due to the scaling
of agriculture and construction sectors in the region. Countries which can
contribute to demand are South Korea, Malaysia, Japan, China, and Thailand.
Easy availability of resources and skilled personnel are factors expected to
supplement market growth.
The North America market growth is
predicted an upward trajectory due to the booming personal care sector in
Canada and the U.S. Rise of the elderly
population and demand for adult incontinence products in nursing homes and
retirement communities can drive market demand. Focus on hygiene, increased
healthcare budget, and increasing use of sanitary products are factors
anticipated to spur the market.
The Europe market is the third
largest market after APAC and North America. Countries such as Germany, Italy,
Russia, and others can contribute to market growth owing to developed industries
and demand for packaged foods among its consumers.
The Latin America and MEA markets are bound to display strong CAGRs
over the forecast period due to the revamping
of healthcare models and emphasis on citizen health. Investments in residential
and commercial construction are also
predicted to influence market demand in the coming years.
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