Global Superabsorbent Polymers Market - Segmented by Product Type, Application, and Region - Growth, Trends and Forecast (2018 - 2023)
The global super absorbent polymer market is expected to register a CAGR of 7.92% during the forecast period, 2018-2023. The market is driven by many factors, such as growing infant population in emerging economies like Morocco, India, and China, along with growing aged population in developed countries.
Growing Infant Population in Emerging Economies
Superabsorbent polymers are majorly used in manufacturing baby diapers. The baby diaper segment consumes nearly 72% of the total superabsorbent polymer production. Growing infant population in emerging countries like Morocco, India is due to high fertility rates and lack of education. In addition, the governments in these regions are actively working to increase the awareness about maintaining infant hygiene, by promoting various infant sanitary products in the region to improve the mortality rate, which is likely to increase the demand for superabsorbent polymers in the region.
Polyacrylamide the Dominant Product Type
Based on product type, polyacrylamide is the dominant market accounting to 25% and is expected to be the fastest growing segment due to its nontoxic nature and high water absorbing and retaining property. In addition, the growing food & beverage industry, especially convenience foods, is also expected to drive the polyacrylamide market, as it used as food additive. In India, the sale of convenience products have been increasing among working class people, teenage children, people living in hostels, and bachelors in response to low cost and easy availability.
Asia-Pacific - a Potential Market
North America is the largest market, however, Asia-Pacific is expected to witness a increase during the forecast period, because of growing adoption of female hygiene products in these countries like India, China, etc. According to the BCH (Indian NonWovens Industry Association), the market penetration rate for sanitary products has increased by 18% from 2014. This increasing market penetration of hygiene products is expected to increase awareness among women and children in Asia-Pacific countries thereby drive the market during the forecast period.
Major Players: Evonik Industries, Nippon Shokubai, BASF, Yixing Danson Technology, Kao Corporation, Nippon Shokubai Co. Ltd, and LG Chem.
Reason to Purchase this Report
To understand the impact on the global super absorbent polymer market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
The type of chemical type and application expected to dominate the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players.
3 months analyst support, along with the Market Estimate sheet (in excel).
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