The super absorbent polymers market is poised for substantial growth, with a predicted value of US$ 10.2 billion in 2023, projected to escalate to US$ 16.5 billion by 2033. This growth trajectory signifies a notable compound annual growth rate (CAGR) of 5% over the forecast period. As demand for super absorbent polymers continues to rise across various industries such as agriculture, healthcare, and personal care, fueled by their exceptional water-absorbing properties and versatility, the market is primed for expansion and innovation to meet evolving consumer needs and technological advancements.
The adoption of super absorbent polymers is increasing as a result of an older population and more awareness of the advantages and practicality of adult incontinence solutions. In response to the rise in adult incontinence cases, governments from various countries are focusing on producing incontinence products through collaborative efforts with manufacturers and medical professionals.
In countries such as the United States, the United Kingdom, Germany, and Australia, government initiatives encourage the use of adult incontinence products. Furthermore, the demand for super absorbent polymers is expected to rise because of their superior water absorption and holding capacity in the construction and waste management industries.
Click Here to Request Your Sample Report: https://www.futuremarketinsights.com/reports/sample/rep-gb-429
Manufacturers in the market for such materials are developing the iodine transfer polymerization (ITP) technique to generate new classes of superabsorbent polymers based on acrylic acid (AA). Because of their remarkable absorption characteristics, ITP-produced AA-based superabsorbent polymers are gaining appeal in the diaper industry. As a result, superabsorbent polymer companies are stepping up R&D efforts to employ specific organoiodine chain transfer agents to polymerize AA in an aqueous solution.
The ITP method makes it feasible for superabsorbent polymers to have better gel strength and absorption capabilities, which is favorable to diaper manufacturers. Businesses are enhancing their reputations by creating super absorbent polymers that balance biomass. Expanding the distribution network is becoming more important to take advantage of the unmet demands that are prevalent in emerging nations. Additionally, to stay up with shifting customer preferences, more focus will likely be placed on the creation of bio-based SAP.
Key Takeaways from the Super Absorbent Polymers Market
- The US super absorbent polymer market is anticipated to expand at a CAGR of 4.8% over the anticipated time frame. By 2033, it is anticipated that sales of super absorbent polymers in the US are likely to surpass US$ 3.1 billion.
- Sales of super absorbent polymers increased at a 4.4% CAGR between 2018 and 2022, citing FMI’s study.
- Between 2023 and 2033, sales in North America are anticipated to grow at a 4% CAGR, supported by increased demand in the United States and Canada.
- The market for super absorbent polymers in the UK is anticipated to grow at the greatest rate, 5.5% CAGR. By 2033, it is expected that the UK market would have contributed more than US$ 982.4 Million in revenue.
- China’s super absorbent polymer sector is estimated to exceed US$ 3.4 Billion by 2033.
- Between 2023 and 2033, sales of super absorbent polymers are likely to increase in Japan and South Korea at 4% CAGR and 4.4% CAGR, respectively.
- The market for super absorbent polymers is anticipated to rise in Europe at a CAGR of 4.4% between 2023 and 2033.
Who is Winning?
Companies in the super absorbent polymers market are pursuing strategic alliances and partnerships with other major players to increase their regional footprint. To preserve their global presence, manufacturers are likewise concentrating on expanding their production operations abroad. Due to stringent environmental regulations and growing customer demand for sustainable products, major players in the market are looking for renewable resources to increase their production capacity in eco-friendly raw materials.
Recent Developments in the Super Absorbent Polymers Industry
- The Abu Dhabi National Oil Company, Adani Group, BASF SE, and Borealis AG have all committed to the feasibility study to evaluate a collaboration for the construction of a chemical complex as of October 2019.
- In March 2021, BASF stated that it will invest around $30 million in its highly absorbent polymer division. BASF is creating a state-of-the-art center of excellence for super absorbents in Antwerp, Belgium.
- In June 2021, Bharat Petroleum Corporation Limited (BPCL) announced that it will construct a super-absorbent polymer unit at the Kochi refinery.
- The FAVOR®max line of ultra-thin baby diapers with special qualities that make diapers and incontinence products even more dependable and absorbent was introduced by Evonik Industries AG in March 2017.
Drive Your Business Growth Strategy: Purchase the Report for Key Insights! https://www.futuremarketinsights.com/checkout/429
Super Absorbent Polymers Market: Top Key Players
- Nippon Shokubai Co., Ltd
- Evonik Industries AG
- BASF SE.
- Kao Corporation
- Sumitomo Seika Chemicals Co. Ltd.
- Sanyo Chemicals Industries, Ltd.
- LG Chemicals Ltd
- Yixing Danson Technology
- Zhejiang Weilong Polymer Material Co., Ltd
- Quan Zhou Banglida Technology Industry Co., Ltd.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube