Superabsorbent polymers market to reach valuation of ~us$ 15 bn by 2030

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Superabsorbent Polymers Market: Introduction

In terms of value, the global superabsorbent polymers market is anticipated to expand at a CAGR of 5% from 2020 to 2030 and cross US$ 15 Bn by 2030. Asia Pacific dominated the global superabsorbent polymers market in terms of volume in 2019. It is estimated to be the leading region of the global superabsorbent polymers market during the forecast period. The personal care & hygiene sector is projected to offer lucrative opportunities for the superabsorbent polymers market in the near future. 

Superabsorbent Polymers Market: Major Drivers and Restraints

Rise in incidence rate of diseases such as diabetic ulcer, pressure ulcer, and venous stasis ulcer among the geriatric population has boosted the demand for advanced injury care products such as superabsorbent polymer products. They are considered ideal for use in wound dressing applications, due to their high water content that helps maintain moist wound environment and cool and non-adherent surface. They also prevent heat absorption and provide comfort to patients. Thus, proven benefits of superabsorbent polymer products such as improved water retention ability, controlled release, and preservation of stored components are anticipated to drive the global superabsorbent polymers market during the forecast period.

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The increase in usage of superabsorbent polymers in disposable baby diapers and sanitary products is propelling the global superabsorbent polymers market. These polymers are added in the form of absorbent layers at the core of the diapers. This helps them absorb the liquid that is then converted into gel. This protects the baby from rashes. Furthermore, rise in birth rates has contributed to the growth in demand for baby diapers. This, in turn, is expected to significantly boost the superabsorbent polymers market across the globe.

Several players have taken strategic initiatives, such as capacity expansion, in order to expand their superabsorbent polymers business, owing to high demand for superabsorbent polymers in various industrial applications. This is also projected to boost the superabsorbent polymers market during the forecast period. For instance, in October 2018, Nippon Shokubai Co., Ltd. expanded its superabsorbent polymers production capacity at its manufacturing facility at Zwijndrecht, the Netherlands. The new plant has production capacity of 100,000 tons per year. This move is expected to help the company meet the rising demand for superabsorbent polymers. The volatility in prices of raw materials is a key restraint of the global superabsorbent polymers market. Acrylic acid, which is manufactured from propylene, is a key raw material used in the production of superabsorbent polymers. Fluctuation in prices of raw materials is a major concern for manufacturers of superabsorbent polymers, as the price of acrylic acid is susceptible to fluctuations in crude oil prices.

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Superabsorbent Polymers Market: Prominent Segments

In terms of value, the sodium polyacrylate segment held major share of the global superabsorbent polymers market in 2019. This trend is anticipated to continue during the forecast period, due to considerable usage of acrylate in construction and medical industries. Based on application, the hygienic segment constituted a significant share of the global superabsorbent polymers market in 2019. This trend is estimated to continue throughout the forecast period. On the other hand, the non-hygienic segment is expected to expand at a faster pace during the forecast period.

Competition Landscape

Major global manufacturers of superabsorbent polymers include Evonik Industries AG, BASF SE, Nippon Shokubai Co., Ltd, LG Chem Ltd., Sumitomo Seika Chemicals Co. Ltd, Sanyo Chemical Industries, and KAO Corporation. The volatility in raw material prices of the superabsorbent polymers acts as a significant barrier for new players to enter the market.

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Global Superabsorbent Polymers Market: Segmentation

Superabsorbent Polymers Market, by Resin

• Sodium Polyacrylate
• Potassium Polyacrylate
• Polyacrylate Copolymers
• Ethylene Maleic Anhydride Copolymers
• Polysaccharides
• Others (including Methyl Acrylates)

Superabsorbent Polymers Market, by Application

• Hygienic
  • Baby Diapers
  • Adult Incontinence Products
  • Sanitary Products
  • Others (including Beauty Mask and Sunscreen)
• Non-hygienic
  • Packaging
  • Medical & Healthcare
  • Agriculture
  • Others (including Industrial)

Superabsorbent Polymers Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Rest of Asia Pacific

The Superabsorbent Polymers market has been undergoing some remarkable growth dynamics, shaped increasingly by digital technologies and environmental sustainability concerns of product development. Over the decades, the feedstock variability and the onslaught of cheaper substitutes have squeezed in profit margins of the chemical and materials sector. On the other hand, the value chain of several businesses in the Superabsorbent Polymers market has undergone overhaul, increasingly rendering some aspiring players with greater control over the forces and demand. The penetration of Industry 4.0 in in the market has stirred game-changing trends for range of stakeholders in the overall chemicals and materials sector. Manufacturing and production environments of businesses in the Superabsorbent Polymers market are keen on formulating and implementing strategic frameworks that will turn them into digital enterprises.

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