SuperabsorbentPolymers Market: Introduction
In terms ofvalue, the global superabsorbentpolymers market is anticipated to expand at a CAGR of 5% from 2020 to 2030 andcross US$ 15 Bn 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.
Superabsorbent Polymers Market:Major Drivers and Restraints
Rise inincidence rate of diseases such as diabetic ulcer, pressure ulcer, and venousstasis ulcer among the geriatric population has boosted the demand for advancedinjury 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 forecast period.For instance, in October 2018, NipponShokubai Co., Ltd. expanded its superabsorbent polymers production capacity atits manufacturing facility at Zwijndrecht, the Netherlands. The new plant hasproduction capacity of 100,000 tons per year. This move is expected to help thecompany meet the rising demand for superabsorbent polymers. The volatility inprices of raw materials is a key restraint of the global superabsorbentpolymers market. Acrylic acid, which is manufactured from propylene, is a key rawmaterial used in the production of superabsorbent polymers. Fluctuation inprices of raw materials is a major concern for manufacturers of superabsorbentpolymers, as the price of acrylic acid is susceptible to fluctuations in crudeoil prices.
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Superabsorbent Polymers Market:Prominent Segments
In terms ofvalue, the sodium polyacrylate segment held major share of the globalsuperabsorbent polymers market in 2019. This trend isanticipated to continue during the forecast period, due to considerable usageof acrylate in construction and medical industries. Based on application, thehygienic segment constituted a significant share of the global superabsorbentpolymers 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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Competition Landscape
Majorglobal manufacturers of superabsorbent polymers include EvonikIndustries AG, BASF SE, Nippon Shokubai Co., Ltd, LG Chem Ltd., Sumitomo SeikaChemicals Co. Ltd, Sanyo Chemical Industries, and KAO Corporation. Thevolatility in raw material prices of the superabsorbent polymers acts as asignificant barrier for new players to enter the market.
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