Super Absorbent Polymers Market to Accrue Impressively By 2030 with a Whooping CAGR

The super absorbent polymers market was worth USD 9.9 billion in 2020 while it is expected to reach USD 13 billion by 2027, reveals Market Research Future (MRFR). The worldwide market is bound to attain a CAGR of 5.8% between 2020 and 2027.

Super Absorbent Polymer Market Scope

The World Bank Group asserts that the worldwide population between the age of 1 to 14 will be close to 5.08 billion by 2050. The super absorbent polymers industry’s growth will largely be driven by the personal hygiene application segment. In the personal hygiene industry, super absorbent polymers have use in adult incontinence products, sanitary napkins and baby diapers. These products are noting substantial demand as the global population continues to surge. Needless to say, subsequently the demand for super absorbent polymers will rise as well.

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Regional Analysis

The Global Super Absorbent Polymer Market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Asia Pacific region is expected to grow with the highest CAGR during the assessment period, (2016 to 2023) owing to expansion of numerous end use industries such as building & construction and agriculture among others. The demand for super absorbent polymer is expected to surge in the various countries of Asia Pacific such as China, India, Japan, Thailand, South Korea, and Malaysia on account of approval of large scale residential, commercial, as well as industrial construction projects. Moreover, rising number of working professionals along with increasing disposable income in emerging nations is predicted to drive the Super Absorbent Polymer Market Growth. Furthermore, ease of availability of raw material, inexpensive labor & land cost, and rising development strategies to fulfil the demand for super absorbent in the rising applications are the important factors for the regional market growth.

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Segmentation

The Global Super Absorbent Polymer Market is categorized on the basis of type, end use, and regions. On the basis of type, the market is segmented into polyacrylamide copolymer, sodium polyacrylate, and others. On the basis of end use, the market is classified into personal care, building & construction, agriculture, food packaging, and others. Other end use includes entertainment, healthcare, and electrical. On the basis of regions, the market is classified into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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Recent Development

January 2022

Bharat Petroleum Corporation Ltd (BPCL) has established a new superabsorbent polymer technology demonstration unit of around 200 tonnes per year at the Kochi Refinery. With the use of the in-house acrylic acid as feedstock, the company’s super absorbent polymer technology has use in several hygiene products including diapers and several incontinence products.

Key Players

Some of the prominent players operating in the Super Absorbent Polymer Market are
NIPPON SHOKUBAI CO., LTD (Japan), SUMITOMO SEIKA CHEMICALS CO.,LTD. (Japan), Yixing Danson Technology (China), BASF SE (Germany), Formosa Plastics Corporation (Taiwan), Kao Corporation (Japan), Evonik Industries AG (Germany), LG Chem (South Korea), SONGWON (South Korea), Sanyo Chemical Industries, Ltd. (Japan) among others.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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