SuperabsorbentPolymers Market: Introduction
Interms of value, the global superabsorbent polymers market is anticipated to expand at aCAGR of 5% from 2020 to 2030 andcross US$ 15Bn by 2030. AsiaPacific dominated the global superabsorbent polymers market in terms of volumein 2019.It is estimated to be the leading region of the global superabsorbent polymersmarket during the forecast period. The personal care & hygiene sector isprojected to offer lucrative opportunities for the superabsorbent polymersmarket in the near future.
SuperabsorbentPolymers Market: Major Drivers and Restraints
Risein incidence rate of diseases such as diabetic ulcer, pressure ulcer, andvenous stasis ulcer among the geriatric population has boosted the demand foradvanced injury care products such as superabsorbent polymer products. They areconsidered ideal for use in wound dressing applications, due to their highwater content that helps maintain moist wound environment and cool andnon-adherent surface. They also prevent heat absorption and provide comfort topatients. Thus, proven benefits of superabsorbent polymer products such asimproved water retention ability, controlled release, and preservation ofstored components are anticipated to drive the global superabsorbent polymersmarket during the forecast period.
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Theincrease in usage of superabsorbent polymers in disposable baby diapers andsanitary products is propelling the global superabsorbent polymers market.These polymers are added in the form of absorbent layers at the core of thediapers. This helps them absorb the liquid that is then converted into gel.This protects the baby from rashes. Furthermore, rise in birth rates hascontributed to the growth in demand for baby diapers. This, in turn, isexpected to significantly boost the superabsorbent polymers market across theglobe.
Severalplayers have taken strategic initiatives, such as capacity expansion, in orderto expand their superabsorbent polymers business, owing to high demand forsuperabsorbent polymers in various industrial applications. This is alsoprojected to boost the superabsorbent polymers market during the forecastperiod. For instance, in October2018, Nippon Shokubai Co., Ltd. expanded itssuperabsorbent polymers production capacity at its manufacturing facility atZwijndrecht, the Netherlands. The new plant has production capacity of 100,000tons per year. This move is expected to help the company meet the rising demandfor superabsorbent polymers. The volatility in prices of raw materials is a keyrestraint of the global superabsorbent polymers market. Acrylic acid, which ismanufactured from propylene, is a key raw material used in the production ofsuperabsorbent polymers. Fluctuation in prices of raw materials is a majorconcern for manufacturers of superabsorbent polymers, as the price of acrylicacid is susceptible to fluctuations in crude oil prices.
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SuperabsorbentPolymers Market: Prominent Segments
Interms of value, the sodium polyacrylate segment held major share of the globalsuperabsorbent polymers market in 2019.This trend is anticipated to continue during the forecast period, due toconsiderable usage of acrylate in construction and medical industries. Based onapplication, the hygienic segment constituted a significant share of the globalsuperabsorbent polymers market in 2019. Thistrend is estimated to continue throughout the forecast period. On the otherhand, the non-hygienic segment is expected to expand at a faster pace duringthe forecast period.
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CompetitionLandscape
Majorglobal manufacturers of superabsorbent polymers include Evonik Industries AG, BASF SE,Nippon Shokubai Co., Ltd, LG Chem Ltd., Sumitomo Seika Chemicals Co. Ltd, SanyoChemical Industries, and KAO Corporation. The volatilityin raw material prices of the superabsorbent polymers acts as a significantbarrier for new players to enter the market.
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