Super Absorbent Polymer Market Sales Volume By Size Price, Operating Cost Operating Profits, Revenue And Profit Margin Of Industry
Super Absorbent Polymer Market
The Super Absorbent Polymers Market Size is projected to grow from USD 9.9 billion in 2023 to USD 13 billion by 2026, at a CAGR of 5.8% between 2020 and 2027.
The super absorbent polymer market is projected to expand at a noticeable CAGR from 2020 to 2027 (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 superabsorbent 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.
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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.
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 reduced pain levels of patients.
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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 superabsorbent 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.
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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.
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Research Objectives
2.2.2 Assumptions & Limitations
2.3 Markets Structure
3 Market Research Methodology
3.1 Research Process
3.2 Secondary Research
3.3 Primary Research
3.4 Forecast Model
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4 Market Landscape
4.1 Five Forces Analysis
4.1.1 Threat Of New Entrants
4.1.2 Bargaining Power Of Buyers
4.1.3 Threat Of Substitutes
4.1.4 Segment Rivalry
4.2 Value Chain/Supply Chain Of Global Super Absorbent Polymer Market
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country-level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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