Super Absorbent Polymer Market is Expected to Witness Further Growth in The a Rise of COVID-19 pandemic
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Upsurge in adult population of developed nation and increase in requirement of diapers in developing countries are the major factors expected to drive the market growth. However, non-biodegradability of synthetic super absorbent polymers and volatility in its raw material prices are anticipated to hamper this growth. Rise in trend for bio-based personal care products and government efforts to promote cleanliness & use of personal disposable products are expected to create growth opportunities for various players in the market.
Super Absorbent Polymers Market was valued at $6,174 million in 2015, and is expected to garner $8,551 million by 2022, registering a CAGR of 4.7% from 2016 to 2022. The synthetic type held more than half of the global market in 2015.
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Bio-based Super absorbent polymers, such as polysaccharides & polyvinyl alcohol, are expected to grow at the highest CAGR throughout the analysis period, due to their remarkable properties such as biodegradability, better absorbability, organic nature, non-toxicity, and others. These are employed in different applications, primarily personal care, healthcare, agriculture & horticulture, and others including automotive, entertainment, construction, packaging, and industrial water.
In 2015, the synthetic type super absorbent polymers, especially sodium polyacrylate occupied major market in terms of revenue and is expected to do so during the forecast period as well. However, this trend is expected to decline to some extent during the forecast period, owing to the increase in inclination of consumers towards nature-based products and non-biodegradability of synthetic super absorbent polymers. The main application employing super absorbent polymer is personal care related products such as disposable adult incontinence products, sanitary napkins, diapers, nappy pads, and urinary bags. Moreover, the healthcare application segment accounted for second largest market share in 2015 in terms of revenue, and is expected to grow at the CAGR of 4.9% during the forecast period.
Expanding population of developing nations, increase in adult population of developed nations, and upsurge in the development of healthcare industry are the factors responsible for fastest growth of personal care and healthcare segments of overall applications. Asia-Pacific is a leader in global super absorbent polymers market due to high growth rate of population and increase in disposable income. Increase in focus of manufacturers & consumers on bio-derived super absorbent polymers has led to rigorous R&D, thus resulting in a large number of patents published in the recent years.
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"Asia-Pacific is a leader in the market due to huge production & demand in the region. Increase in focus of manufacturers & consumers on bio-derived super absorbent polymer has led to rigorous R&D, thus resulting in a large number of patents published on it in recent years."
Major companies profiled in this report are BASF SE, Demi Co. Ltd., Evonik Industries AG, Formosa Plastics Corporation, LG Chem Ltd., Nippon Shokubai Co. Ltd., San-Dia Polymers, Songwon Industrial Co. Ltd., Sumitomo Seika Chemicals Co. Ltd., and Yixing Danson Technology.
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