Pune, India, Aug. 09, 2018 (GLOBE NEWSWIRE) -- The latest data released by Market Research Future (MRFR)’s reveals that in 2017, more than USD 11,300 Mn worth polymer gel was supplied worldwide. The Global Polymer Gel Market size is expected to surpass USD 16,312.5 Mn by the 2023. The global market for polymer gel is expected to increase at a healthy CAGR of 6.55% between 2018 and 2023. The recent uptick in global sales is an encouraging sign for the polymer gel industry.
Market Overview
Polymer gel is an adaptive material with unique physiochemical properties, which also makes it an excellent industrial material. In recent years, the application base of polymer gels has expanded to a significant extend. Factors as such are expected to have a positive influence on the growth trends of the market during the forecast period. Popularity of polymer gels has also increased in the cosmetics & personal care industry. It is being used in manufacturing sanitary pads, wet wipes, diapers, face masks bandages and contact lenses. The rising level of awareness about health and wellness among consumers is partly driving the global sales of personal care and hygiene products. Considering the rising disposable income in many of the fast-developing counties, demand for premium wellness products, including the ones, which are exclusive is likely to grow further over the next couple of years. Keeping all the aforementioned factors into account, a positive outlook towards the polymer gel is established.
Expansion of the manufacturing sector in emerging economies is likely to create opportunities for polymer gel suppliers during the forecast period. The pharmaceutical industry is also expected to remain crucial for the polymer gel industry. Versatile ranges of polymer gels are used in drug manufacturing applications including biosensors, regenerative medicine. Apart from drugs, they are also used in soft actuators, drug delivery systems and molecular recognition systems. As emerging economies in regions such as Asia and Latin America take greater measure to improve excess to advanced healthcare services, demand for products such as polymer gel rise steeply.
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Key Players and Competitive Tracking
MRFR in its report has profiled some of the leading companies that are currently functioning in the global polymer gel market, which include Chemtex Specialty Limited, LG Chem Ltd., BASF SE, Aspen Aerogels, Inc., Aerogel Technologies, LLC, KATECHO, INC., Nippon Shokubai Co., Ltd., Evonik Industries AG, SUMITOMO SEIKA CHEMICALS CO., LTD., SNF Holding Company, Archer Daniels Midland Company, Cabot Corporation.
Industry News
- Aliancys and Aoc has reportedly agreed to create a joint venture that will be called as AOC Aliancys. This move will allow both the companies to combines their synergies and increase their overall output of gel coats, polyester and vinyl ester resins and other composite material.
- Adhesive manufacturing company Blufixx has recently introduced a repair pen that uses flexible polymer gel to fix broken wires cables. The pen leverages cutting-edge UV light technology and polymer gel composite to create a high-bonding adhesive solution.
Market Segmentation: Insights
MRFR’s report offers a comprehensive segmental analysis of the global market for polymer gel based on form, end-use industry, type, raw material and region.
On the basis of form, the market has been segmented into monolith, semi-crystalline, amorphous, particle, blanket, and others. Among these, the amorphous segment currently commands the higher share of the global market. Meanwhile, the semi-crystalline segment is projected to exhibit a comparatively faster growth rate during the assessment period.
Based on end-use industry, the market has been segmented into healthcare, agriculture, water treatment, cosmetics & personal care, building & construction, electrical & electronics, oil & gas and others. The cosmetics & personal care segment is expected retain its top position over 2023, reaching a market valuation in access of USD 4 Bn.
Browse the market data and information spread across 100 pages with 275 data tables and 29 figures of the report “Polymer Gel Market Report - Forecast 2018-2023” in-depth alongside in-depth table of content (TOC) at: https://www.marketresearchfuture.com/reports/polymer-gel-market-5976
Based on type, the market has been segmented into aerogel, hydrogel, and others. The hydrogel segments is expected to remain highly attractive in 2018 and beyond. In addition, the segment is expected to witness a CAGR of 8.69% during the forecast period. Hydrogel finds application in manufacturing of cosmetics, personal care and healthcare products.
On the basis of raw material, the market is segmented into polyvinyl alcohol (PVA), silicon, polyacrylonitrile (PAN), polyacrylic acid (PAA) and other. The polyacrylic acid segment is likely to remain highly profitable throughout the assessment period. Polyacrylic acid and its derivative find widespread usage in resin, detergent, and disposable diaper manufacturing. Polyacrylic acid is commonly used as raw ingredient in preparing skincare gels. Towards the end of the projection period, the segment is expected to reach a market valuation of 7.83 Bn.
Asia Pacific will remain at the Forefront of the Global Polymer Gel Market
Asia Pacific (APAC) currently holds the top position in the global polymer gel market and the trend is likely to continue throughout the assessment period. This mainly attributed to increased standard of living and changing life style in the countries such as China, India, Indonesia and South Korea that are undergoing rapid urbanization. Demand for wellness and personal care products has continued to increase in the region in recent times. APAC will remain a key investment destination for market players during the forecast period. APAC is followed by North America and Europe, taking up the second and third spot respectively. The existence of advanced industrial setup in these region remains major positive for the polymer gel market.
Browse Related Report:
Silica Gel Market Research Report by Product (Type A, Type B, Type C, Silica-Alumina Gel, Others), Applications (Desiccant, Chromatography, Food Additives, Water Filtration), End-Use Industry (Oil and Gas, Pharmaceutical, Petrochemical) – Forecast till 2023
https://www.marketresearchfuture.com/reports/silica-gel-market-5151
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