According to a new research report by Global Market Insights Inc., the Superabsorbent Polymer Market size will surpass $9.5 billion by 2025. Significant growth in hygiene industry has been driving the demand for superabsorbent polymer during the forecast period.
Rising health awareness and growing disposable income of people in emerging economies such as Asia Pacific have been contributing to the demand for hygiene products. Furthermore, superabsorbent polymer finds applications in wastewater treatment and paper packaging. Driven by such wide applications, the superabsorbent polymer market is expected to witness significant growth throughout the forecast period.
Diseases resulting from poor hygiene conditions are rising significantly in developing countries. Some diseases include pneumonia, hepatitis A, scabies, and gastroenteritis, which are caused by bacterial, viral, and parasitic invaders. Increasing number of such diseases is raising concerns in society and leading to adoption of appropriate hygiene conditions and habits in developed as well as developing countries. Growing incidence of these diseases has led to increased use of diapers, adult contingence and sanitary napkins which will further propel the superabsorbent polymer market during forecast period.
Increase in global population leads to higher food demand. Environmental change and global warming have resulted in irregular monsoons, which in turn affects the harvest. Superabsorbent polymers are known to assists plant growth during a drought. These also enable plants to survive through reduction of water requirement up to 50% in mountainous, dry, and desert areas, which will fuel the superabsorbent polymer market share throughout the forecast period.
On the flip side, fluctuation in crude oil prices will affect the superabsorbent polymer market value owing to its derivation from petrochemicals. Raw material price trend volatility will lead to an unpredictable profitability, resulting in a high risk in investing in the sector.
Browse key industry insights spread across 190 pages with 278 market data tables & 20 figures & charts from the report, “Superabsorbent Polymers (SAP) Market Size By Product (Sodium Polyacrylate, Polyacrylamide Copolymer) By Applications (Baby Diapers, Adult Incontinence Products, Feminine Hygiene, Agriculture, Medical), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2018 – 2025” in detail along with the table of contents:
Superabsorbent polymer includes polyacrylamide copolymers and sodium polyacrylate. The other niche product segment includes polysaccharides, polyvinyl alcohol, etc. Among all, sodium acrylate will hold nearly 60% of the entire market throughout the forecast span. Rising demand for product from industrial and commercial sectors for various applications including coatings, sequestering agents in detergents, etc. has been driving the demand for sodium polyacrylate.
Medical application segment will witness around 7% CAGR throughout the forecast period, owing to increasing use of product in wound care dressing, and surgical pads. Moreover, technological advancements to manufacture antimicrobial and chronic wound dressing products will fuel the superabsorbent polymer market throughout the forecast period.
China is expected to generate revenue over $1 billion in 2025 as the country has achieved significant economic growth which has subsequently increased spending capacity of people. Increased GDP signifies the growth in spending power and socio-economic development, which in addition to growing awareness affects the hygiene market positively. This will upsurge the superabsorbent polymer market throughout the forecast period.
Key players in the superabsorbent polymer industry which holds the major market chunk include LG Chem, BASF SE, San-Dia Polymers, Sanyo Chemicals Industries, Zheijiang Satellite, Formosa Plastics, Nippon Shokubai, Evonik, Sumitomo Chemicals, Yixing Denson Technology and Songwon Industrial.