Super absorbent polymers (SAP) are absorbable materials which can absorb a huge amount of aqueous liquid in relation to their size. Super absorbent polymers is white sugar-like hygroscopic products that swell in the presence of water to form a clear gel. Once they absorbed water they don to release it hence are ideal materials for use in products such as incontinence products, baby diapers/nappies, and feminine hygiene pads.
The global Super Absorbent Polymers (SAP) market is expected to surpass US$ 13865.8 Mn in terms of value by the end of 2028.
Growing disposable income has increased the purchasing power of the consumer which is encouraging them to spend on advanced hygiene products this is expected to propel the market growth of super absorbent polymers. Moreover, increasing population across the developing region such as the Asia Pacific and MEA is further expected to augment the market growth of super absorbent polymers.
Increasing demand for bio-based super absorbent polymers products is expected to offer potential growth opportunities to the market of super absorbent polymers. For instance, in September 2019, Archer Daniels Midland Company (ADM) have announced a joint development agreement with South Korean-headed LG Chem Ltd to produce biobased acrylic acid, a key element required in the production of superabsorbent polymers (SAP) used in a range of hygiene products, such as diapers.
Global Super Absorbent Polymers (SAP) Market: Recent Developments
In December 2019, Nippon Shokubai and Sanyo Chemical Industries have completed the merger to form a new company called Synfomix. Synfomix has two divisions. Materials and solution. Materials will focus on the superabsorbent polymer (SAP) value chain division, including ethylene oxide (EO) and acrylic acid (AA).
In November 2020, BASF has announced that its acrylic value chain project with Adani Group was put on hold due to Covid-19 pandemic.
In August 2021, LG Chem has announced that the company has successfully produced bio balanced super absorbent polymer and exported to Baby Life (Company based in Jordon). The bio-balanced super absorbent polymer is product based on bio-materials derived from renewable waste oil and palm byproducts.
Fluctuating prices of raw materials used to produce super absorbent polymers is expected to hinder the market growth of super absorbent polymers. Acrylic acid is a key ingredient used in the production which is manufactured from propylene. Price of oil has a direct effect on the price of propylene. This is expected to hamper the market growth of super absorbent polymers.
Global Super Absorbent Polymers (SAP) Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of the Covid-19 pandemic has led to a gap in demand and supply due to the implementation of containment policies such as lockdown and social distancing. Implementation of such regulations has negatively impacted growth of the market during spread of the infection. However, economic condition is continue to improve slowly and gradually and key players are looking towards opportunities to sustain in the market by adopting various business strategies.
The flourishing retail industry is one of the major trends that is expected to accelerate the market growth of SAP. An increasing number of retail outlets that enable easy purchasing of the product. Moreover, emerging various brands in the diapers market across developing region is further anticipated to augment market growth of super absorbent polymers.
The market of super absorbent polymers has witnessed various partnerships and collaboration among major players looking to expand their presence on the regional and global levels is expected to accelerate the market growth of super absorbent polymers. For instance, in December 2019, Nippon Shokubai and Sanyo Chemical Industries have completed the merger to form a new company called Synfomix. Synfomix has two divisions. Materials and solution. Materials will focus on the superabsorbent polymer (SAP) value chain division, including ethylene oxide (EO) and acrylic acid (AA).