Change in Consumer Preference and Growing Hygiene Awareness Underpinning Demand Growth of Super Absorbent Polymer
Before the commercial usage of super absorbent polymers in disposable diapers and other personal care products, traditional hygiene products were used. Acceptance for super absorbent polymer-based products, especially disposable diapers and sanitary napkins, came gradually across the globe slowly. However, now, as the awareness for benefits of using superabsorbent polymers is increasing, there is a shift in consumer preference towards using super absorbent polymer-based products.
Also, consumers have become extremely particular about hygiene due to growing concerns about several waterborne and airborne diseases, especially in densely-populated countries. This has led to increase in the usage of hygiene products, such as sanitizers, tissues, diapers, and sanitary napkins.
The super absorbent polymers market is expected to grow at a CAGR value of ~5%. Rising demand for super absorbent polymers from the baby diapers industry is projected to be one of the prime factors driving the super absorbent polymers market growth. The global super absorbent polymers market is projected to produce an incremental $ opportunity of ~US$ 5.0 Bn over the forecast period.
Increasing Demand for Adult Incontinence Products Anticipated to Bolster Market Growth
According to a report released by the United Nations World Population Prospects, the population of 60+ age group in the U.S. and Canada is expected to hold 36.2% and 43% share, respectively, of the total population by 2050. In 2015, the 60+ age group in the U.S. and Canada held 24.5% and 26.5% share of the total population. Therefore, there is high demand for incontinence products, which is expected to fuel the demand for super absorbent polymers (SAPs) in the coming years.
Moreover, the amount of SAP required for incontinence products is high as compared to baby diapers, as these require high absorbency under load. Therefore, the demand for super absorbent polymer products with enhanced water absorbing capacity is increasing. The demand for adult incontinence products is on the rise and is expected to open up attractive opportunities in the market, particularly within matured economies.
Key Market Participants Expanding Production Capacities to Capitalize on the SAP Demand
Key market players in the super absorbent polymers market are focusing on expanding their super absorbent polymers production capacities to leverage the growing demand for super absorbent polymer-based products across the globe. Manufacturers are also focusing on expanding their footprints in emerging regions across the globe. Furthermore, growing competition among key players is also a significant factor, owing to which, manufacturers are investing heavily to maintain their market share.
Super Absorbent Polymers Market – Competition Landscape
The super absorbent polymers market is a highly consolidated market and key market participants held around ¾ share of the total market in 2018. Top 10 market players in the super absorbent polymers market collectively hold 72% to 78% of the total market share. Some of the prominent manufacturers operating in the market are BASF SE, Nippon Shokubai Co., Ltd., Evonik Industries AG, Sumitomo Seika Chemicals Co. Ltd., Sanyo Chemicals Industries, Ltd., and LG Chemicals Ltd., among others.
Key Questions Answered in the Global Super Absorbent Polymers Market Report
A comprehensive analysis of the global super absorbent polymers market draws up the conclusion that the market is expected to grow significantly throughout the forecast period. Asia Pacific accounts for a prominent share in the global super absorbent polymers market. Demand for super absorbent polymers for usage in hygiene products such as disposable diapers, adult incontinence products, as well as feminine hygiene products is responsible for market growth during the forecast period. Manufacturers aiming for regional expansion are enhancing SAP production capacity to capitalize on the demand for super absorbent polymers across the globe.
Persistence Market Research (PMR), in its recent study on the super absorbent polymers market, offers a detailed value-volume analysis, on the basis of various segments such as product type, application, and region. As per product type, sodium polyacrylate is projected to be a lucrative segment in terms of growth opportunities, since the product is widely used in baby diapers and adult incontinence products, among others.
This report covers market analysis through basis point analysis (BPS), incremental dollar opportunity index, market attractiveness analysis, and Y-o-Y growth. The volume analysis has been considered in 'Kilo Tons', covering data for the historical period 2014-2018 and forecast period 2019-2029, with 2018 as the base year.
An Overview of the Super Absorbent Polymers Market Report
The super absorbent polymers market report begins with an executive summary covering a gist of the report. The executive summary highlights the market overview in terms of value and volume through various segments. The section also covers key supply and demand-side trends in the global super absorbent polymers market. This section also outlines a technology roadmap with introduction, adoption, and current developments.
The next section of the super absorbent polymers market report begins with the market definitions, market taxonomy, product overview, their application downstream, and research scope for super absorbent polymers.
The following section in the global super absorbent polymers market report includes macroeconomic factors, along with value chain analysis, drivers, restraints, trends, and opportunities that have a profound rate of influence on the growth of the super absorbent polymers market. The information has been backed up with suitable examples and facts obtained from official and authentic data credentials in the super absorbent polymers market.
Global Super Absorbent Polymers Market: Segmentation
The next section provides a pricing analysis of super absorbent polymers on regional fronts, wherein, a weighted average price has been computed to arrive at global average prices.
Subsequent sections of the report provide market value (US$ Mn) and volume (Consumption in Kilo Tons) projections for the super absorbent polymers market based on the above-mentioned segments at a global level. The values for the global market represented in these sections have been gathered by collecting data and information at the regional level. We have also provided segment-wise and country-wise analysis for the regions.
All the above sections evaluate the present super absorbent polymers market scenario and growth prospects in the global super absorbent polymers market while the forecast presented in these sections assesses the market size in terms of volume and value.
It is important to note that we conduct forecast in terms of growth rate, CAGR, and year-on-year (Y-O-Y) growth to understand the profitability of the market and identify the market opportunities available for industry players. To understand key market segments in terms of growth of the super absorbent polymers market across concerned regions, PMR has developed an attractiveness index, which helps providers identify real market opportunities.
Moreover, this research study also involves the analysis of all the basic parameters pertaining to the super absorbent polymers market. In the market report, sub-segments, country-level analysis, regional analysis, and revenue in terms of absolute dollar opportunity have been discussed. For the illustration of these data points, we have identified potential sources from a sale and delivery perspective in the super absorbent polymers market.
In the second last section of the global super absorbent polymers market report, a competitive landscape of the super absorbent polymers market has been included to provide report audiences with a dashboard view, grade-wide product portfolio mapping, its presence across the globe, and key differentiating factors and strategies. This section in the report is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the value chain of the super absorbent polymers market.
The competition dashboard section of the global super absorbent polymers market report discusses key developments and market share of key players. In the company profile section, we have discussed key strategies of the players, financial data, product overview, SWOT analysis, key developments, and worldwide presence of the key players.
Global Super Absorbent Polymers Market: Key Participants
The global super absorbent polymers report focuses on some of the prominent industry players in the global super absorbent Polymers market, which include BASF SE, Nippon Shokubai Co., Ltd., Evonik Industries AG, Kao Corporation, Sumitomo Seika Chemicals Co. Ltd., Sanyo Chemicals Industries Ltd., LG Chemicals Ltd., Yixing Danson Technology, Zhejiang Weilong Polymer Material Co., Ltd., Wanhua Chemical Group Co., Ltd., Sinofloc Chemical Ltd., SNF (U.K.) Limited, and Formosa Plastic Corporation, among others.
The first stage of research entailed the formulation of a preliminary hypothesis, which was considered from primary as well as secondary approaches. To analyze the super absorbent polymers market share and competition analysis, we tracked key developments in the super absorbent polymers market, such as collaborations, expansion, mergers & acquisitions, new orders, product launches, and awards and recognitions for companies operating in the market. Competition benchmarking has been provided for the top 10 competitors with respect to the sales performance of super absorbent polymers.