Value of Superabsorbent Polymer Market estimated at US$ 16.3 Bn by 2031
Transparency Market Research Inc. – The advent of the COVID-19 pandemic across the globe created high consumer awareness regarding hygiene and sanitization. This aspect has created a subsistence demand for baby diapers, female hygiene products, and adult incontinence which ultimately creates enormous growth opportunities for the superabsorbent polymer market. Concurrently, the pressing need for hygiene products by women, senior citizens, and infants has opened new avenues for the growth of the superabsorbent polymer market during the forecast period of 2022-2031.
The superabsorbent polymer has the capacity to absorb fluids far more than its weight. It is super absorbent and comfortable for the users. Superabsorbent polymer is largely used in female hygiene products, baby diapers, and incontinence products. The relentless research and development activities to produce cost-effective and super-quality hygiene products have created multiple growth opportunities for the superabsorbent polymer market.
The expert research team at TMR has conducted an intensive market survey which throws light on the overall growth trajectory of the superabsorbent polymer market. The insights provided in the research report focus on the growth curve of the superabsorbent polymer market. As per the projections made by experts, the superabsorbent polymer market is prognosticated to expand at a CAGR of 5.8% during the forecast period. The market is expected to reach the valuation of US$ 16.3 Bn by the end of the forecast period.
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Expanding Use of Superabsorbent Polymers in Agricultural Sector Continues to Bolster Growth of Superabsorbent Polymer Market
Agriculture is the backbone of many developing nations across the globe. The emerging economies have experienced rapid economic growth owing to the development in the agricultural sector. Superabsorbent polymers play a vital role in preserving water and improving the quality of the soil. Furthermore, they create a favorable environment for the growth of seeds. The water retention ability of these superabsorbent polymers coupled with application along with pesticides and fertilizers protects the underground water and prevents the soil from losing its nutrients.
The rigorous research and development activities in the agriculture sector have led to novel innovations and techniques to add value to the soil. The efforts to broaden the scope of the use of superabsorbent polymer in agriculture have provided numerous benefits to the superabsorbent polymer market. The leading players are whetting their expertise in developing superabsorbent polymers which can support the growth of plants without losing their valuable nutrients. All these developments have created immense growth opportunities for the global market.
Pressing Need for Hygiene Products Worldwide Augments Market Growth
Superabsorbent polymers are mainly used in personal care, baby care, and hygiene products on a large scale. Amidst, the COVID-19 pandemic the entire globe realized the importance of hygiene which eventually increased the sales of hygiene products namely, baby diapers, adult incontinence products, and sanitary napkins. The superior absorbing capacity and odor-free aspect of these products have made them popular among the global population. The escalating demand for disposable diapers, pads, and other hygiene products has fueled the market growth. In addition, the innovations such as rash-free and dry feel elements of these products have opened new avenues for the growth of the superabsorbent polymer market.
Increasing Spending on Hygiene Products in Developing Countries Boosts Growth of Global Superabsorbent Polymer Market
The rise in disposable income of developing countries in Asia Pacific region has increased the spending on baby diapers and other hygiene products. Furthermore, the increasing geriatric population has propelled the growth of the superabsorbent polymer market. North America and Europe are prognosticated to show significant growth owing to the diversification of the agricultural sector in this region. The government initiatives to promote product applications in terms of agriculture in regions facing water scarcity has produced lucrative opportunities for the global market.
Some of the leading players in the superabsorbent polymer market are KAO Corporation, Zappa Stewart, Sumitomo Seika Chemicals, Nippon Shokubai Co. Ltd., BASF SE, and Formosa Plastics Corporation
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Global Superabsorbent Polymer Market: Segmentation
- Sodium Polyacrylate
- Potassium Polyacrylate
- Polyacrylamide Copolymer
- Ethylene Maleic Anhydride Copolymer
- Hygienic Applications
- Adult Diapers
- Sanitary Products
- Medical & Healthcare
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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Source: Financial Content