The super absorbent polymers market generated approximately USD 7 billion in 2014. It is expected to notice considerable expansion in the forecast period. This is due to demand for baby diapers. Super absorbent polymers refer to cross linked homo polymers. They can hold and absorb huge quantities of liquid comparative to their mass.
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Wide recognition of these polymers across various industry verticals, apart from cleanliness and individual care, is anticipated to be a significant market driver in the future. Rising disposable earnings in emergent regions have led to more demand for cleanliness and individual care products. Such a development is also predicted to augment market sales in the forecast phase.
Supportive governmental policies prompting the use of super absorbent polymers for cultivation, specifically in regions with water-shortage, would drive regional and worldwide markets. The main market limitation in the coming seven years comes from supply-demand imbalance of raw materials. Scarcity of raw materials could lead to higher cost and lesser revenue margins.
The super absorbent polymers market is bifurcated into applications and regions. Baby diapers led the market in the years gone and occupied close to three fourth of the overall volumes. They will continue their dominance in the forecast phase. Other applications include wires & cables, construction, packaging, and wastewater management. They will witness considerable growth in the seven years ahead.
Regions wise, North America and Europe would dominate the sector of adult incontinence products. This will be on account of the rising geriatric population in Germany, Japan, and the U.S. Europe led the super absorbent polymers market and was followed by North America. Central & South America, Asia Pacific, and the Middle East & Africa will expand during the forecast phase.
Governmental initiatives for encouraging super absorbent polymers in agriculture & industrialization are estimated to contribute market revenues in the years ahead. Major players in the global market comprise BASF, Nippon Shokubai, and Evonik. They implement strategies to enhance their product offerings, market shares, and capacities.
Other companies furthering their businesses in the super absorbent polymers market encompass Yixing Danson Technology, Sumitomo Seika Chemicals Co., Songwon Industrial Co.Ltd., and LG Chemical Co.
Information Source: Grand View Research