The global super absorbent polymer market size is poised to reach USD 12.10 billion by 2025, according to a new study by Grand View Research, Inc., posting a CAGR of 6.3% during the forecast period. Rising demand from various application sectors, such as baby diapers, adult incontinence products, agriculture, and female hygiene products is expected to drive the growth.
Super Absorbent Polymer (SAP) is a key component in baby diapers. SAPs are used for absorbing and retaining fluids under moderately high pressure. Emerging regions, such as Asia Pacific and Central and South America are likely to witness a sharp rise in demand for baby diapers owing to growing population, disposable income, and awareness regarding the benefits of synthetic baby diapers, which are estimated to play a key role in the growth of the overall market for super absorbent polymers.
Factors, such as constantly developing medical infrastructure, technological advancements, and growing accessibility to medical treatments have resulted in an increase in life expectancy rates. Growing life expectancy is expected to further supplement the growth of the adult incontinence product market and, in turn, boost the growth of the super absorbent polymer market.
Super absorbent polymers find application in the agriculture industry owing to their water retention and water absorbing properties, which makes them perfectly suitable for agricultural applications, particularly in water-scarce regions. These polymers increase crop yield and water use efficiency. Problems such as diversified soil characteristics, paucity of large cultivable land, and underprivileged conditions of farmers result in inability to adopt expensive and latest technologies and agricultural methods.
Further key findings from the repot suggest:
- In terms of revenue, Europe dominated the global super absorbent polymer market in 2018 and is anticipated to expand at a CAGR of 5.4% during the forecast period
- Baby diapers was the largest application segment in 2018 and is projected to maintain its dominance through to 2025
- Agriculture is poised to be the most promising application segment, rising at a CAGR of 7.4% in terms of revenue over the forecast period. The growth can be attributed to ongoing extensive research conducted by governments and agricultural agencies in countries such as U.S., China, and India to pave way for novel applications of super absorbent polymers
- Asia Pacific is likely to exhibit the fastest CAGR of 7.3% in terms of revenue during the forecast period. Increasing demand from various application segments, particularly in China and India, is projected to supplement the growth. Rising demand for environment-friendly and energy saving products and solutions is expected to further drive the growth
- Key players include BASF SE, Formosa Plastics Corporation, LG Chemicals Ltd., SDP Global Co., Ltd, Songwon Industrial Co., Ltd., Evonik Industries AG, KAO Corporation, Nippon Shokubai Co., Ltd., Sumitomo Seika Chemicals Co. Ltd