The global Super Absorbent Polymer Market size was valued at US$ 7899.33 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.3% for the forecast period ending 2026 reaching a Market value of US$ 11340.3 million.
Super absorbent polymers are a revolutionized product that has quickly progressed from specialty chemical to special commodity. It has brought transformation in a baby diaper and adult incontinence industries over the past three decades.
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Super absorbent polymers are witnessing tremendous growth in the agriculture industry. The application of super absorbent polymer is one of the most popular water conservation approaches in agriculture. It is largely used across the world for fulfilling the increasing demand for food to a growing population. Super absorbent polymers are used as a mini reservoir of water and nutrients in the soil for on-demand supply to plants to produce grain and increase biomass under limited nutrient and irrigation conditions. Therefore, increasing focus on effective management of irrigation water is one of the key factors propelling the super absorbent polymers market growth.
On the other hand, the volatility of raw material prices coupled with non-biodegradability of the synthetic super absorbent polymer are the key factors hampering the growth of global super absorbent polymer market. However, the development of bio-based super absorbent polymer for personal care products and government initiative to promote hygiene & cleanliness are expected to create growth opportunities for various players in the super absorbent polymers market.
Key Findings:
• Based on type, the sodium polyacrylate segment is accounted for the largest share in the market and held for around 50% of the total super absorbent polymers market, in 2018
• Based on application, the agriculture segment is expected to grow at the highest CAGR of around 8.5% during the forecast period
• Asia-Pacific accounted for more than 30% share of the global Super absorbent polymers market in 2018
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Companies profiled in this Super Absorbent Polymer Market report include:
• BASF SE
• Evonik Industries
• Kao Corporation
• LG Chem Ltd
• Sanyo Chemical Industries
• Sumitomo Seika Chemicals
• Nippon Shokubai
• Xitao Polymer Co
Recent News:
• In November 2018, Nippon Shokubai plans to build 100,000 ton/year acrylic acid plant in Indonesia, and the plant is targeting to start operation in November 2021. Acrylic acid is the feedstock for super absorbent polymer.
• In May 2017, Sumitomo Seika has announced to expand production capacity for super absorbent polymer in South Korea.
• In September 2015, SDP Global has established new production base for super absorbent polymer in Malaysia.
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