New York, Jan. 15, 2024 (GLOBE NEWSWIRE) -- The global super absorbent polymers market size is slated to expand at ~9% CAGR between 2024 and 2036. The market is poised to garner a revenue of USD 34 billion by the end of 2036, up from a revenue of ~USD 12 billion in the year 2023.A major element to influence the market expansion is the growing demand for personal hygiene products such as diapers and sanitary pads. Globally, roughly 300 million women are in menstruation. Hence, the demand for super-absorbent polymers is projected to grow.
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However, approximately 500 million people worldwide lack access to menstruation products or sufficient facilities for managing menstrual hygiene (MHM). Hence, there has been the launch of various initiatives by the government to promote the use of sanitary pads and other hygiene products. Furthermore, various NGOs are also carrying out effective steps to make hygiene products available to people, especially women. As a result, this factor is also set to influence the market expansion over the coming years.
Surge in Population to Boost the Growth of Global Super Absorbent Polymers Market
In 2023, there were over 8,045,311,446 humans on the globe; this is an increase of around 0.87%, or over 70,206,290, from the estimated 7,975,105,155 people in 2022. Hence, this is boosting demand for agriculture food which is further boosting demand for super absorbent polymers. Polymers can absorb water over 399–1500 times their dry weight, hence employing hydrogel or super-absorbents may assist improve the amount of moisture accessible in the root zone of crops.
Super Absorbent Polymers Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Growing Urban Population to Boost the Growth of the Market in North America
The super absorbent polymers market in North America is estimated to generate the largest share of about 35% over the forecast period. This growth is set to be dominated by a rising urban population. For instance, in 2022, there were a total of approximately 308,798,138 urban residents in North America, an over 0.76% increase from 2021. Hence, this has increased the demand for construction activities further increasing demand for cement. Concrete mixtures may be fortified with superabsorbent polymers (SAPs) to promote internal curing and mitigate the possibility of early-age shrinkage cracking.
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Surge in Standard of Living of People to Influence the Market Expansion in Asia Pacific
The Asia Pacific market for super absorbent polymers market is predicted to gather a significant share of about 30% over the coming years. This could be owing to the rising standard of living owing to growing disposable income. For instance, India is expected to experience the most real wage growth in the Asia-Pacific region, with about 5% growth, followed by Vietnam at over 3% and China at approximately 2%. As a result, the demand for hygiene products is growth further influencing the market growth.
Super Absorbent Polymers, Segmentation by Application
- Hygiene
- Sanitary Products
- Baby Diapers
- Adult Incontinence Products
- Non-Hygiene
- Packaging
- Medical & Healthcare
- Agriculture
The hygiene segment is set to capture the highest market share of about 55% over the forecast period. This growth of the segment is poised to grow on account of rising number of women populations. According to projections, there are over 4,002,323,751 females in the globe, which translates to close to 4,001 million or about 3 billion people. This represents approximately 48% of the global population. Hence, the demand for sanitary products is also growing.
Super Absorbent Polymers, Segmentation by Type
- Sodium Polyacrylate
- Potassium Polyacrylate
- Ethylene Maleic Anhydride Copolymers
- Polyacrylamide Copolymers
The sodium polyacrylate segment is set to generate the highest market share of about 35% overt the forecast period. The major factor to influence the segment growth is growing demand for beauty products. For instance, the average monthly spending of Americans on cosmetics is about USD 243 to over USD 312.
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A few of the well-known industry leaders in the super absorbent polymers market that are profiled by Research Nester are Evonik Industries AG, BASF SE, LG Chemicals Ltd., Yixing Danson Technology Co., Zhejiang Weilong Polymer Material Co., Ltd., Sinofloc Chemicals Ltd., Wanhua Chemical Group Co., Ltd, Formosa Plastic Corporation, SNF Limited, Songwon Industrial Co. Ltd., and others.
Recent Development in the Market
- In addition to announcing the mass manufacturing of the first "Bio-balanced" SAP, LG Chem also revealed that it has obtained international certification for ISCC Plus and started exporting from South Korea. It was shipped from the Yeosu Plant, will be delivered to "Baby Life," an LG Chem client in Jordan, and is probably going to be utilized to make diapers.
- For its hygiene business, BASF invested USD 30.1 million in a new excellence center. With this investment, BASF will develop a cutting-edge Super Absorbents Excellence Centre at its Verbund location in Antwerp, Belgium, enhancing its capacity for innovation in the super absorbent polymer industry.
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