Superabsorbent Polymer Market Share & Growth | Forecast 2030

Report Description

The global superabsorbent polymer market was valued at USD 8,901.5 million in 2020 and is projected to reach USD 13,903.1 million by 2028, expanding at a CAGR of 6.1% during the forecast period. The superabsorbent polymer market is anticipated to grow substantially during the forecast period, owing to factors such as growth in personal care industry, especially in emerging economies, due to rising disposable income along with growing consumer consciousness regarding personal hygiene are likely to fuel the demand of superabsorbent polymers market. The superabsorbent polymer market is segmented into types, applications, and regions.

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An increasing number of strategies such as mergers & acquisitions, agreements, partnerships, and product launches among companies to establish themselves as providers of Superabsorbent Polymer are anticipated to create lucrative opportunities in the market in the near future. The rising adoption of various strategies by market players to increase their presence and share in the market is expected to create growth opportunities in the market.

Scope of Superabsorbent Polymer Market Report

Macro-economic Factors

Polymer Industry

Polymers are widely used products in nearly all industries such a medical, packaging, construction, coating, and medical, which in turn, boosts the demand for superabsorbent polymers. Rising demand for superabsorbent polymer in baby diapers, adult incontinence products, feminine hygiene products, and in agriculture, forestry, and gardening as an agent for retaining water in the soil and improving seed germination and increases yield fuel the market.

Product demand

Increasing demand for feminine hygiene and incontinence products in developed and developing countries is driving the demand for superabsorbent polymers. Nowadays, people are becoming health conscious and showcasing interest in hygiene products, especially from female consumers. The demand for diapers is high due to rising awareness among consumer regarding health and hygiene. This, in turn, is propelling the use of superabsorbent polymers.

Government regulations

Political factors influence regulations and laws that indirectly affect the market. Governments, along with many regulatory bodies, are concerned with environmental factors, and have established stringent rules and regulations regarding the manufacture and production of superabsorbent polymer products, as it is used in diapers that are thrown in open lands, which hampers the environment.

Coronavirus

COVID-19 has negatively impacted on the market due to COVID-19 pandemic it had a severe impact on the global automotive industry. This is witnessed in terms of the supply chain disruptions of part exports from China, large-scale manufacturing interruptions across Europe, and closure of assembly plants in the US and other major countries, such as India and Brazil.

Market Dynamics

Market Driver- Rising demand for Personal Care Products

In the personal hygiene applications, superabsorbent polymers are used in baby diapers, adult incontinence products, and sanitary napkins. Among these, the use of SAP is the highest in the baby diapers segment. Rising geriatric population and increasing awareness about advantages and convenience of adult incontinence products are increasing the usage of superabsorbent polymers. Governments of countries such as the US, the UK, Germany, and Australia have initiatives that support the use of adult incontinence products is expected to surge the demand for superabsorbent polymers.

Market Driver- Growing adoption in Agricultural Industry

SAP have been used in many applications due to their outstanding characteristics. In agriculture applications, this material is utilized in the soil to improve water and rainwater absorption or in extreme irrigation, as it slowly allows the water to seep to the roots, which results in better growth. Furthermore, the polymers can be used for the controlled release of pesticides and agrochemicals. SAP can stimulate many properties of the soil and be used to increase the capability of nutrient retention and water-holding capacity of the soil is anticipated to drive the superabsorbent polymer market during the forecast period.

Market Restraint- High Volatility in Raw Material price

Acrylic acid is the significant raw material which is used for the manufacturing of superabsorbent polymers. The prices associated with the raw material are been unstable owing to fluctuations in crude oil prices. Environmental regulations in Asia Pacific have resulted in acrylic acid manufacturing plants to operate at lower rates, which is expected to narrow the supply-demand gap. However, the impact is expected to be overcome, as companies are increasing their production capacity, which is likely to stabilize the prices in the coming years.

Market Opportunity- Development of Bio-based Superabsorbent Polymers

In the current market scenario, conventional superabsorbent polymers are used non-biodegradable and account for a large share of landfills globally. Hence, investments for the development of superabsorbent polymers based on renewable materials are expected to create opportunities in the global market. Superabsorbent polymers made from renewable materials are not suitable substitute for petrochemical-based polymers, such as sodium polyacrylate and potassium polyacrylate, which are currently used in the absorbent core of disposable diapers, among other personal hygiene products.

Superabsorbent Polymer Market Segmental Outlook

Based on types, the market is classified into sodium polyacrylate, polyacrylate/polyacrylamide copolymer, and others. The sodium polyacrylate segment is anticipated to grow substantially during the forecast period, owing to the increased use of sodium polyacrylate in personal hygiene applications, owing to its high liquid absorption capacity.

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On the basis of applications, the market is segregated into personal care, healthcare, agriculture & horticulture, industrial, and others. The personal care segment is anticipated to hold a significant share of the market, owing to rising use of super absorbent polymers in the manufacture of feminine hygiene products, disposable diapers, and adult incontinence products.

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Superabsorbent Polymer Market Regional Outlook

Based on regions, the market is classified as North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The market in Asia Pacific is expected to expand at exponential CAGR during the forecast period, owing to high population, increasing middle-class income, cheap labor, and low cost of raw materials. This is expected to increase the demand for superabsorbent polymers in end-products.

The market in Europe is expected to hold a significant share of the global market during the forecast period, due to growing health awareness coupled with rising healthcare expenditure.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Superabsorbent Polymer Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Superabsorbent Polymer Market Performance