Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Super Absorbent Polymer market.
Trusted Business Insights presents an updated and Latest Study on Super Absorbent Polymer Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Super Absorbent Polymer market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: Super Absorbent Polymer Market
The global super absorbent polymer market size was valued at USD 7.9 billion in 2018 and is anticipated to progress at a CAGR of 6.3% during the forecast period. Strong demand from the baby diaper segment is projected to stoke the overall growth. In addition, surging demand for adult incontinence and female hygiene products owing to increasing awareness pertaining to hygiene is poised to drive the product demand. In terms of revenue, the U.S. market is likely to expand at a CAGR of 6.7% during the forecast period and is expected to continue remaining the largest market for Super Absorbent Polymer (SAP) over the forecast period.
High consumer awareness regarding hygiene is fuelling the demand for adult incontinence and female hygiene products, which in turn is stimulating the market growth. Increasing disposable income along with growing awareness about sanitization in the country is also positively influencing the growth of the market in U.S.
Moreover, increasing birth rate coupled with rising geriatric population is projected to drive the demand for baby and adult diapers, which in turn is providing a fillip to the market for super absorbent polymers. Focus of end-use industries on product innovation is also estimated to help the market gain significant momentum in the forthcoming years. Government initiatives to encourage applications of the product related to agriculture, particularly in water-scarce regions, are anticipated to further fuel the market.
Booming personal care industry, especially in emerging economies, due to rising disposable income along with growing consumer consciousness regarding personal hygiene, is projected to augment the product demand. However, fluctuation in availability and protean prices of raw materials are hindering the growth of the market over the forecast period.
The prices of SAP in different areas do not differ substantially. High quality of super absorbent polymer is an essential component for hygienic and personal care products that determines large extent of their functional quality. Hence, a large number of suppliers are carefully selected in the competitive tendering environment. The SAP market is largely characterized by the ability and willingness of consumers to switch between manufacturers in response to quality and price changes.
Application Insights of Super Absorbent Polymer Market
On the basis of application, super absorbent polymer Market is segmented into adult incontinence products, baby diapers, agriculture, and female hygiene products. Baby diapers was the most prominent segment in 2018, accounting for just over three quarters of the overall market revenue. The segment is expected to rise at a CAGR of 6.3% during the forecast period owing to growing population along with increasing disposable income, particularly in developing regions, such as the Middle East and Africa, Central and South America, and Asia Pacific.
Adult incontinence products are poised to witness noteworthy growth during the forecast period owing to increasing geriatric population in regions, such as North America and Europe. Rising awareness regarding hygiene is likely to result in a higher demand for female hygiene products in the forthcoming years.
Growing population, awareness regarding hygiene, and efforts by the companies to reach untapped markets are some of the prominent factors expected to assist the segment growth in near future. Emerging economies, such as China and India are anticipated to lead Asia Pacific region in the forthcoming years, owing to factors such as rapid population growth, high birth rate, rising disposable income, and rising awareness regarding baby health.
Regional Insights of Super Absorbent Polymer Market
Europe was the leading revenue contributor in the global market for super absorbent polymer in 2018, with a total revenue share of more than 33.8%. It is estimated to retain its position until 2025. The market is driven by increasing demand from manufacturers of baby diapers owing to its high water absorption and retention capacity. Changing lifestyles and flourishing e-commerce are some of the primary factors contributing to the regional market growth.
Asia Pacific is anticipated to witness significant growth over the forecast period owing to high product demand from emerging economies, such as China and India. Baby diapers market is witnessing a rapid growth in the region on account of rising disposable income, population, and awareness regarding baby health.
In addition, baby diapers market is expected to witness growth potential in untapped markets in the region, such as Indonesia, Vietnam, and Singapore, thereby propelling the demand for super absorbent polymers in Asia Pacific over the forecast period.China was the largest market in 2018 and is projected to continue leading over the forecast period. The growth can be attributed to increasing demand from various application segments, especially baby diapers, female hygiene products, and adult incontinence products. Increasing birth rate, rising purchasing power, and growing urbanization are factors boosting the demand.
Market Share Insights of Super Absorbent Polymer Market
BASF SE, Nippon Shokubai Co., Ltd., Formosa Plastics Corporation, LG Chemical Ltd., Sumitomo Seika Chemicals Co., Ltd., SDP Global Co., Ltd., Songwon Industrial Co., Ltd., KAO Corporation, Evonik Industries AG, and Yixing Danson Technology are some of the key players engaged in R&D and manufacturing of high quality super absorbent polymers.
Companies are taking strong measures to gain greater market penetration and a foothold in emerging economies. These measures include introducing multiple brands, strengthening their network, adopting fervent marketing techniques to reach out to customers, and developing products with superior qualities.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Super Absorbent Polymer Market Research Report
This report forecasts revenue and volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global super absorbent polymer market report on the basis of application, and region:
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2019 – 2030)
Adult Incontinence Products
Female Hygiene Products
Quick Read Table of Contents of this Report @ Super Absorbent Polymer Market Size, Share, Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)
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