Global Superabsorbent polymers Market (2023-2030) research study provides a basic summary of the industry such as definitions, applications, classifications, and industry chain structure. The global analysis on competitive landscape, development trends, and major regions growth status.
The global superabsorbent polymers market size was valued at USD 10.29 billion in 2022. The market is projected to grow from USD 11.03 billion in 2023 to USD 18.16 billion by 2030, exhibiting a CAGR of 7.4% during the forecast period.
Superabsorbent Polymers (SAP) possess an impressive capacity to absorb aqueous fluids, ranging from 300 to 500 times their own weight. These polymers find widespread application in various sectors, including personal hygiene, medical, and agriculture, where their exceptional fluid absorption properties are highly valuable. Fortune Business Insights presents this information in their report titled “Global Superabsorbent Polymers Market, 20232030.”
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COVID-19 Impact
Market Stabilized During Pandemic due to Moderate Demand
The demand for personal care and hygiene products remained stable during the pandemic, and in certain cases, it even experienced an upward trend. To ensure the availability of essential and medical products, many countries exempted them from lockdown measures and restrictions. This exemption resulted in an increased demand for SAP, as these materials are crucial components in the production of personal care and hygiene products.
Segments
Robust Demand in Personal Hygiene Drives Sodium Polyacrylate Segment
By type, the market is segmented into sodium polyacrylate, polyacrylamide, and others. Sodium polyacrylate has established its dominance in the market, driven by the increased demand for personal hygiene and medical applications. With remarkable absorption properties and skin protection capabilities, sodium polyacrylate has captured a significant superabsorbent polymers market share.
Increasing Population and Health Awareness Fuels Personal Hygiene
By application, the market is segmented into personal hygiene, medical, agriculture, and others. The personal hygiene segment is set to take the lead, fueled by a growing population and heightened awareness of health and well-being. This surge in demand encompasses various personal hygiene products such as baby diapers, feminine sanitary napkins, adult incontinence products, and similar items.
From the regional ground, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Report Coverage:
Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
Comprehensive insights into regional developments.
List of major industry players.
Key strategies adopted by the market players.
Latest industry developments include product launches, partnerships, mergers, and acquisitions.
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Drivers and Restraints
Rising Geriatric Population Boosts Demand for Adult Incontinence Products
A notable rise in the elderly population is observed across major economies such as the U.S., China, Japan, the U.K., Germany, and South Korea. Additionally, developing countries such as India, Brazil, and South Africa are projected to experience a significant increase in their geriatric population in the coming years. This global surge in the elderly population is expected to drive the demand for adult incontinence products, consequently leading to increased consumption of SAP.
However, certain countries are experiencing a decline in their population growth rate attributed to a low fertility rate, which may impede the superabsorbent polymers market growth.
Regional Insights
Asia Pacific Emerges as Market Leader Fueled by Government Programs and Growing Demand
Asia Pacific has established itself as the leading region in the SAP market. It is projected to witness the highest CAGR, primarily due to the successful execution of government initiatives targeting childcare and women’s health in major economies such as China and India.
North America showcases a remarkable adoption of personal hygiene products among its population. Moreover, the region’s expanding elderly population is expected to play a pivotal role in driving market growth, particularly in the segment of adult incontinence products, in the coming years.
Competitive Landscape
Key Companies Invest in Recycled Material for Sustainable Production
Leading players in the superabsorbent polymers industry are collaborating to incorporate recycled raw materials into the production process, demonstrating their commitment to sustainability. In response to the increased prices of raw materials, major players in the market have recently announced a price hike.
Key Industry Development
March 2021: BASF announced that it is investing in building a new Excellence Centre for its hygiene business. Through this investment, the company aims to increase it innovation capabilities for superabsorbent polymer business.
Major Players Profiled in the Report:
Sumitomo Seika Chemicals (Japan)
Nippon Shokubai (Japan)
Sanyo Chemical/SDP Global (Japan)
BASF (Germany)
Evonik (Germany)
LG Chem (South Korea)
Taiwan Plastics (Taiwan)
Yixing Danson (China)
Satellite Science and Technology (China)
Shenghong Holding Group (China)
Quan Zhou Technology (China)
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Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Superabsorbent polymers Market Size, Trends, Share & Growth [2023-2030] Future Growth of Superabsorbent Polymers & Opportunities
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