Polymer Gel Market Size

Polymer Gel Market Size

Polymer Gel Market size was more than USD 38 billion in 2016 and will witness over 6% CAGR by 2024.

Polymer gels serve a vast range of applications in various industries. Diverse types of polymer (crosslink) gels are expected to observe escalating demand for their unique and discrete properties suiting the requirements of different end-users such as personal care, medicals, oil & gas, etc. by 2024. Increasing ageing population especially in Japan & China along with booming population across the globe and increasing awareness towards healthcare will drive the demand for polymer gels over the forecast timespan. As stated by the World Health Organization (WHO), the share of the world’s population above 60 years will be almost double from 12% to 22% between the span 2015 to 2050 In order to suit the necessities of sustainable and safe livelihood of the population, healthcare reforms have been near the top of many national agendas. Such trends present brighter demand aspects for crosslink gels in the near future.
 

Demand for the superabsorbent polymer (SAP) hydrogels has been driven by the personal care products including baby diapers, adult incontinence aids, and feminine care products. These areas will observe substantial demand for the crosslink gels in the next 7 years, particularly in the emerging nations. Adult incontinence products will observe faster growth with rising standards of healthcare, longer lifespans, aging population and most importantly-increasing awareness & acceptance of crosslink gel based products.

Polymer gel market will exhibit exponential growth in the medical & healthcare applications by 2024. Hydrogel demand for medical applications will be substantially higher compared to their counterparts, by 2024. Hydrogels have been gaining wider acceptance in crosslink gel market for treating the dry chronic wounds. They form a moist wound environment and thus promote wound healing. Hydrogel based wound dressings result in absorbing wound debris and exudate, softening of dry necrotic tissue and removal of devitalized tissue. These crosslinked gels play a vital role as emergency burns treatment for their cooling and hydrating effect.