Super Absorbent Polymer Market to Garner $ 10.8 Billion, Globally, By 2027 at 6.4 % CAGR, Says Allied Market Research
Surge in popularity of diaper pants and rise in consumer awareness toward infant's hygiene drive the growth of the global super absorbent polymer market
PORTLAND, Ore., Sept. 17, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Super Absorbent Polymer Market by Type (Synthetic and Natural), Application (Personal Care, Healthcare, Agriculture & Horticulture, and Others), and Production Method (Suspension Polymerization, Solution Polymerization, and Gel Polymerization): Global Opportunity Analysis and Industry Forecast, 2020-2027". According to the report, the global super absorbent polymer industry generated $7.6 billion in 2019, and is projected to reach $10.8 billion by 2027, growing at a CAGR of 6.4% from 2020 to 2027.
Drivers, restraints, and opportunities
Surge in popularity of diaper pants and rise in consumer awareness toward infant's hygiene drive the growth of the global super absorbent polymer market. However, volatility in raw material prices hampers the market. On the contrary, developing economies and high birth rate countries are expected to create lucrative opportunities for the market players in the coming years.
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Covid-19 scenario: The outbreak of Covid-19 has greatly affected the global super absorbent polymer market.
- Lockdown in various countries and shortage of labor have temporarily suspended the manufacturing of advanced materials.
- Dearth of raw materials and disrupted supply chain has affected the manufacturing of super absorbent polymer resin.
The synthetic segment held lion's share
By type, the synthetic segment dominated the market in 2019, accounting for nearly 90% of the global super absorbent polymer market, due to its high adoption because of its high absorbency potential under load. However, the natural segment is expected to manifest the highest CAGR of 7.1% during the forecast period, owing to its characteristics such as biocompatibility, non-toxic, and sustainability.
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The solution polymerization segment to portray highest CAGR through 2027
By production method, the solution polymerization segment is expected to register the highest CAGR of 7.1% through 2027, due to high efficiency and lower capital cost. In addition, solution polymerization production method uses its own energy to carry out the process, which reduces the capital expenditure. However, the gel polymerization segment held the largest share in 2019, contributing to more than four-fifths of the global super absorbent polymer market, as the method is widely used to manufacture super absorbent polymers with great absorbency under pressure.
Asia-Pacific, followed by North America, dominated the market
By region, the global super absorbent polymer market across Asia-Pacific, followed by North America, held the largest share in 2019, accounting for around two-fifths of the market. The region is expected to register the highest CAGR of 6.9% during the forecast period, due to rising healthcare sector and growing population in the region. The report analyses the other regions such as North America, Europe, and LAMEA.
Major Market Players
- BASF SE
- Evonik Industries AG
- Kao Corporation
- LG Chem
- Sanyo Chemical Industries, LTD
- Sumitomo Seika Chemicals Co., LTD
- Nippon Shokubai Co., Ltd.
- Xitao Polymer Co., Ltd
- Yixing Danson Technology
- Zhejiang Satellite Petrochemical Co., Ltd
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