by The Super Absorbent Polymers Market is estimated to be valued at US$ 10459.56 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Super absorbent polymers (SAPs) are a class of polymers that can absorb and retain liquids up to 500 times their own weight. SAPs are primarily used in personal care absorbent products such as baby diapers, adult incontinence products, and feminine hygiene products. They are also used in agricultural applications to retain soil moisture and reduce water usage for gardening and farming. SAPs work by absorbing liquid and swelling to form hydrogels. They help absorb large volumes of fluids and give flexible absorbent products their fluid handling properties.
Market Dynamics:
Growing demand from the personal care industry is a key driver for the super absorbent polymers market. Rising global population and increasing disposable incomes in developing countries are leading to higher consumption of personal care absorbent products like diapers and feminine hygiene products. This is driving the need for SAPs which help these products absorb and retain large volumes of body fluids. Another driver is the increasing usage of SAPs in agriculture and horticulture applications. With growing concerns of water scarcity and need to optimize water usage, SAPs are widely being used in gardening and farming as a water retention agent to reduce irrigation requirements for plants and crops. They help absorb water and release it slowly over time to enable long-lasting moisture for botanical growth.
Segment Analysis
The super absorbent polymers market can be segmented based on application into personal hygiene (baby diapers, adult incontinence products, and female hygiene products), agriculture (soil amendment and farming), medical (wound care and medical waste management) and others. The personal hygiene segment dominates the market owing to the rising demand for baby diapers and adult incontinence products due to the increasing population of infants and elderly people globally.
PEST Analysis
Political: Government regulations regarding the usage of raw materials and environmental safety play a key role in the market. Regulations supporting sustainability will positively impact growth.
Economic: Increasing disposable incomes in developing nations is driving demand. However, economic slowdowns hamper market growth.
Social: Growing awareness about personal hygiene and health & wellness favors the market. Population aging and increasing lifestyle diseases augment demand.
Technological: Advancements in material synthesis and manufacturing processes aid capacity expansion and new product development. Focus on developing super absorbent polymers with enhanced absorption properties and gel strength.
Key Takeaways
The Global Super Absorbent Polymers Market is expected to witness high growth, exhibiting CAGR of 5.8% over the forecast period, due to increasing demand for disposable baby diapers and adult incontinence products.
The Asia Pacific region is projected to be the fastest growing as well as the dominating regional market. Countries like China, India, Indonesia, and Japan are anticipated to boost market growth in the region due to rising health awareness and increasing disposable incomes.
Key players operating in the super absorbent polymers market are Nippon Shokubai Co. Ltd., Evonik Industries AG, BASF SE, Yixing Danson Technology, Kao Corporation, Sumitomo Seika Chemicals Co. Ltd., San-Dia Polymers Global Co. Ltd., Sanyo Chemicals Industries, Formosa Plastics Corporation, and LG Chemicals Ltd. Nippon Shokubai Co. Ltd. and Evonik Industries AG together account for over 50% share of global production capacity.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
