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Press Release: Super Absorbent Polymers Market is Expected to Surpass US$ 13865.8 Mn by The End of 2028
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Super absorbent polymers are polymeric materials that have excellent water absorbency power as they can absorb 400–800 times water than their weight. SAP is widely used in personal &hygiene products such as adult continence products, baby diapers, and sanitary napkins. Diaper manufacturing is the largest application area of Super Absorbent Polymers, however, they also have agricultural applications.
The global Super Absorbent Polymers (SAP) market is estimated to be valued at US$ 9344.2 million in 2021 and is expected to exhibit a CAGR of 5.8 % over the forecast period (2021-2028).
Recent Developments:
In October 2019, Abu Dhabi National Oil Company, Adani Group, BASF SE and Borealis AG have agreements for feasibility study to evaluate a collaboration for the establishment of a chemical complex. The chemical complex at in Mundra, Gujarat, India will include major facilities including polypropylene complex and acrylic value chain complex.
In March 2021, BASF has announced to invest around US$ 30 million for its super absorbent polymer business. BASF is building a state-of-the-art super absorbents excellence centre in Antwerp, Belgium.
In June 2021, Bharat Petroleum Corporation Limited (BPCL) has announced its plan to set up super absorbent polymer plant at Kochi refinery. The company has aimed to set pilot plant of 200 tons per annum capacity which will be followed by 50 kilo tons commercial plant.
Asia-Pacific (Region) held dominant position in the global Super Absorbent Polymers (SAP) market in 2020, accounting for 55.8% share in terms of volume, followed by Europe and North America, respectively.
Figure 1. Global Super Absorbent Polymers (SAP) Market Value (US$ Mn), by Region, 2020
-market-fig-1.png "Super Absorbent Polymers | Coherent Market Insights")
Drivers:
Rising awareness regarding hygiene around the globe due to growing cases of various infectious diseases is expected to fuel the market growth of super absorbent polymers. Growing demand for diapers, tissues, and sanitary napkins among health-conscious consumers is expected to augment the market growth of super absorbent polymers. Super absorbent polymers is primarily used in the aforementioned hygiene products.
Expanding application of SAP across end-user applications such as medical, agriculture, and construction is expected to accelerate the growth of super absorbent polymers market. Moreover, owing to their excellent property of water absorption and water holding capacity is boosting their demand from construction and waste management applications, this is further expected to uplift the market growth of the super absorbent polymers.
Market Opportunities
The growing use of super absorbent polymers product across agricultural& horticulture applications and waste management is expected to foster market growth. Growth in agricultural activities is expected to have a positive impact on the market of super absorbent polymers over the forecast. Other emerging application includes automotive, construction, and packaging.
Growth in the number of working women and geriatric population is estimated to augment the demand for incontinence products. This is expected to open new avenues in the market of super absorbent polymers over the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2021: | US$ 9344.2 Mn |
| Historical Data for: | 2017 to 2020 | Forecast Period: | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 5.8% | 2028 Value Projection: | US$ 13865.8 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Nippon Shokubai Co. Ltd., Evonik Industries AG, BASF SE, Yixing Danson Technology, Kao Corporation, Sumitomo Seika Chemicals Co. Ltd., San-Dia Polymers Global Co. Ltd., Sanyo Chemicals Industries, Formosa Plastics Corporation, and LG Chemicals Ltd. |
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| Restraints & Challenges: |
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Market Trends
Changing lifestyles and improving standard of living of consumers across developing regions such as the Asia Pacific is stimulating the market growth of the super absorbent polymers. Rising hygiene awareness has become one of the major trends in the developing region and this is expected to favor the market growth of super absorbent polymers over the forecast timeframe.
Increasing production capacity of the super absorbent polymers product by major players in order to meet the rising demand is expected to foster market growth over the forecast period. For instance, in December 2019, LG Chem planned to invest a total of 300 billion won ($278.6 million) to expand its petrochemical facilities in Yeosu, South Jeolla Province. With the investment, the company plans to increase the annual production capacities of crude acrylic acid and super absorbent polymer by 180,000 tons and 100,000 tons, respectively.
Figure 2. Global Super Absorbent Polymers (SAP) Market Share, By Application, 2020
-market-fig-2.png "Super Absorbent Polymers | Coherent Market Insights")
Key Takeaways of the Graph:
Market Restraints
The market of SAP in developed regions such as North America and Europe are mature markets and are witnessing slow growth. This factor is projected to hinder the market growth of super absorbent polymers over the forecast period.
Growing environmental concerns as super absorbent polymers products are non-biodegradable and thus have a negative impact on the environment. This is projected to hinder the market growth of the superabsorbent polymers in the near future.
Competitive Section:
Company Names
Few Recent Developments
Nippon Shokubai Co. Ltd.
A super absorbent polymer is simply a polymer that will absorb and retain very large quantities of a liquid, relative to its weight. A super absorbent polymer is typically a waxy liquid that will absorb and retain very large amounts of a particular liquid relative to its volume. A super absorbent polymer will also prevent the evaporation of some materials, prevent the growth of mildew on certain materials and prevent other materials from becoming molds. They are even more effective than regular super absorbent polymers at absorbing liquids and keeping them out of diapers.
Market Dynamics:
High demand for SAP from medical, agriculture, and construction applications is propelling growth of the superabsorbent polymer market. Rapid growth in the personal care industry is again fostering growth of the market. Moreover, rise in the number of working women and the increasing geriatric population is creating demand for sanitary napkins and adult diapers which is further expected to augment growth of the market.
However, growing environmental concern is expected to hinder growth of the Super Absorbent Polymers (SAP) Market.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective.
*Browse 50 market data tables* and 45 figures* on "Global Super Absorbent Polymers (SAP) Market” – global forecast to 2028
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