Super Absorbent Polymers Market Size Worth $14.67 Billion By 2028 | CAGR: 6.1%: Polaris Market Research
NEW YORK, June 10, 2021 /PRNewswire/ -- The global super absorbent polymers market size is expected to reach USD 14.67 billion by 2028 according to a new study conducted by Polaris Market Research. the market is anticipated to register a CAGR: 6.1% from 2021 – 2028. Growing awareness regarding the hygiene of infants driving demand for baby diapers, which in turn contributing to the exponential market growth. In addition to this, the rapidly growing aged population in several countries such as Greece, Japan, and Italy boosting the penetration of adult diapers, augmenting the overall market development. Increasing government initiatives to promote the use of super absorbent polymer in water-scarce regions, owing to its key property of water retention, making it ideal for agricultural products. Moreover, a rise in disposable income coupled with increasing spending on personal care products further driving the market growth.
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Key Highlights from the Report:
- Based on type, the sodium polyacrylate segment dominated the market in terms of volume and is projected to retain its dominance over the forecast period. The segment's growth is attributed to its rising use in making personal hygiene products.
- In terms of application, the baby diapers segment accounted largest revenue share, on account of increasing awareness regarding baby hygiene coupled with a huge rise in birth rate across the globe.
- Nippon Shokubai Co., Ltd., headquartered in Japan and a leading chemical manufacturer, has successfully developed a novel superabsorbent polymer having a high level of super-fast-drying absorption property.
COVID-19 Impact
The global super absorbent polymer market has experienced substantial growth for the last several years. However, the outbreak of COVID-19 harmed the market due to the low efficiency of production amid lockdown restrictions. On the other side, hygiene and medical solutions & products are highly demanded on the surge of COVID-19 cases globally, resulting in a positive impact on the market. Super absorbent polymers find wide application in the manufacturing of wipes and diapers that have tremendous demand in medical facilities.
Regional Developments
Asia-Pacific emerged as the most promising super absorbent polymer market and is anticipated to dominate the market during the forecast period. This region's rapid growth can be attributed to rising demand for personal hygiene products and increasing agricultural activities. The regional market of Europe is one of the leading revenue contributors on account of changing lifestyles and the rapidly evolving e-commerce sector in the region.
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Competitive Outlook
Leading companies are emphasizing strengthening their foothold and increasing market penetration. They are also working hard to grow their network, developing high-quality products, and expanding their business in different regions. Key players operating in the super absorbent polymer market BASF (Germany), Nippon Shokubai (Japan), Evonik (Germany), LG Chem (South Korea), SDP Global (Japan), Formosa (Taiwan), Yixing Danson (China), Satellite Science & Technology Co., Ltd. (China), Sumitomo (Japan), and Kao Corporation (Japan). The market is highly concentrated and focusing on gaining a competitive edge through mergers, partnerships, acquisitions, etc. German company Evonik acquired Porocel Group, a U.S.-based company for USD 210 million, in the year 2020. It enables the organization to expand the catalysts portfolio and boost the catalyst business segment.
Target Audience
- Supply Side: Chemical and Cosmetics Company
- Demand Side: Hospitals, Agriculture Applications, Household Use
- Regulatory Side: Food and Drug Administration (FDA)
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Polaris Market Research has segmented the super absorbent polymer market report on the basis of type, application, and region:
Super Absorbent Polymers, Type Outlook (Revenue – USD Million, 2016 – 2028)
- Sodium Polyacrylate
- Polyacrylate/Polyacrylamide, Copolymers
- Others
Super Absorbent Polymers, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Agriculture
- Baby Diapers
- Adult Incontinence Products
- Female Hygiene Products
- Others
Super Absorbent Polymers, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- U.S.
- Canada
- Europe
- France
- Germany
- UK
- Italy
- Spain
- Netherlands
- Austria
- Asia Pacific
- Japan
- China
- India
- Malaysia
- Indonesia
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
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About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.
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