Global Hydrogel Market - Segmented by Resin Type, by Fiber Type, by End-user Industry and Geography - Growth, Trends and Forecasts (2018 - 2023)
The global hydrogel market is expected to witness a CAGR of approximately 6.90% during the forecasted period, 2018-2023. The major factors driving the growth of the market is the wide range of applications and advantage over conventional products of hydrogel. The ability of hydrogel to offer superior performance compared to conventional products, have hugely attributed to the growth of the market.
Wide Range of Application and Advantage over Conventional Products
The application of hydrogel can be found from pharmaceutical to electronics industry. The properties exhibited by hydrogel makes them fit for wide range of applications, such as domestic uses, perfumes, cosmetics, plastic surgery, bacterial culture, tissue engineering, dental applications, wound healing applications, drug & protein delivery systems, peptides, capacitors in electronics, etc. Hydrogels with optimum degree of crosslinking offers strong and elastic properties. These are used for sanitary purpose (in disposable diapers, sanitary napkins), as medical electrode in ECG, as breast implants. Hence, with the growing demand for hydrogel in various applications is driving the global hydrogel market during the forecast period.
Increasing Demand from Personal Care & Hygiene Sector
Hydrogel, due to its soft and tissue-like physical properties, water absorption, good oxygen permeability, superior biocompatibility, micro-porous structure for additional transport channels, and several other properties, is considered the perfect material to be used in hygiene products. Rising hygiene awareness, coupled with growing infant and aging population in emerging economies, and continuous demand for feminine hygiene products, is expected to drive the hydrogel market in the hygiene industry. Hence, the demand for hydrogel is increasing in the personal care & hygiene sector. As the sector is growing, the demand for hydrogel is expected to grow during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific is expected to remain the largest market during the forecast period due to growth in the personal care & hygiene, agriculture, and pharmaceuticals & healthcare sectors. The beauty, personal care, and healthcare sectors are expected to grow at a robust pace in the region during the forecast period, primarily driven by baby and child-specific products, depilatories, oral care, color cosmetics, skin care, and sun care. The personal care market accounts for around 21% of the Indian consumer packaged goods market, with a potential to be the gold mine for certain beauty and personal care companies. Hence, Product innovations, consumer willingness to experiment with new products, and continued demand for naturally-positioned products are expected to drive the demand for hydrogels in the region during the forecast period.
Major Players: 3M, Sekisui Plastics Co. Ltd, Johnson & Johnson Private Limited, ConvaTec Inc., amongst others.
Key Developments in the Market
May 2018: Ambu acquired Invendo Medical GmbH, a leading developer of sterile single-use high-definition endoscopy products in the field of gastroenterology and gastrointestinal surgery
Reason to purchase this Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Which application is expected to dominate the market
Which regions are expected to witness fastest growth during the forecast period
Identifying the latest developments, market shares and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in excel)
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