The global SAP market size, in terms of value, is projected to reach USD 7.96 Billion by 2020, at a CAGR of 7.6% between 2015 and 2020. The increasing demand for thinner diapers in Asia-Pacific, growing technological dominance, and continuous expansion and merger & acquisition activities undertaken by companies are key factors driving the growth of the global SAP market.

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The agriculture segment is projected to be the fastest-growing application of SAP between 2015 and 2020. The use of super absorbent polymers (SAPs) are an established water conservation technique in agriculture and is widely used in different parts of the world. The growing population and increased demand for food in developing nations are the key factors driving the demand for the SAP market in agriculture application. The important application areas of agricultural SAP can broadly be categorized into gardening, horticulture, forestry, lawns, play grounds, and golf-course.

Currently, Asia-Pacific is the largest market for SAP, accounting for more than half of the global market size, by value, in 2014. Among all the countries, China dominates the SAP market in 2014, closely followed by India. The fastest-growing country in the world, India, is expected to surpass China and Japan in the SAP market in the near future.

Though the SAP market is growing at a significant growth rate, few factors hinder the growth of the market globally. The shift of end-user market from developed countries to the developing countries, and fluctuations in the currency exchange rates of Japan are the major restraints toward the growth of the SAP market.

Companies such include BASF SE, Nippon Shokubai Co. Ltd., Evonik Industries AG, SDP Global Co. Ltd., LG Chem Ltd., Sumitomo Seika Chemicals Co. Ltd., and Formosa Plastics Co are the dominant market players in the global SAP market. The diverse product portfolio and strategically positioned R&D centers, continuous adoption of development strategies, and technological advancements are the few factors that are responsible for strengthening the market position of these companies in the market. These companies have been adopting various organic and inorganic growth strategies such as expansions, mergers & acquisitions, partnerships, new product launches & products development to enhance their current market share.

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