BASF SE (Germany), Evonik Industries AG (Germany), NIPPON SHOKUBAI CO., LTD. (Japan), Kao Corporation (Japan), Formosa Plastics Corporation (Taiwan), LG Chem Ltd. (South Korea), SDP Global Co., Ltd. (Japan), 3M Company (U.S.), Sumitomo Seika Chemicals Co., Ltd. (Japan), and Songwon Industrial Co., Ltd. (South Korea) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Superabsorbent Polymers Market.
Superabsorbent Polymers Market – Overview
The Global Superabsorbent Polymers Market is increasing with the impulsive pace; owing to the growing personal hygiene application. According to a recent study report published by the Market Research Future, The global market of Superabsorbent Polymers is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a stunning growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the estimated period (2017 – 2022).
Globally, the market for Superabsorbent Polymers is driven by the region Asia pacific, owing to the rise in the population resulting in to increasing demand for personal care products and agriculture industries among others. Superabsorbent Polymers are materials that have the ability to absorb and retain large volumes of water and aqueous solutions. This makes them ideal for use in water absorbing applications such as baby nappies and adult’s incontinence pads to absorbent medical dressings, paint solidification and water absorption techniques to effectively use water in agriculture. Paramount environment concerns prompt the use of recycled paper where again Superabsorbent Polymers are used in pulp processing.
Rising population defines the growth of personal care industry. Moreover growing industries such as medical textile, food packaging, and paints & coatings provide momentum to the Superabsorbent Polymers Market growth.
Superabsorbent polymers products are manufactured by utilizing polyacrylic acid as raw material which are costlier but they are capable to deliver high performance. These high value added products widely used as moisture absorbers in various industries.
Superabsorbent Polymers are most widely used in manufacturing personal care products followed by its major use to effectively absorb water and supply it to the roots of the plants in agriculture sector. India appears to be the fastest growing consumer of Superabsorbent Polymers based products over the forecast period.
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Superabsorbent Polymers Market – Competitive Analysis
Superabsorbent Polymers market appears to be less competitive with the presence of only few major global chemicals and materials manufacturers operating in the Superabsorbent Polymers Market. Presence of few key players will lead to monopoly situation and also competitive edge in innovation and technology is expected to be indelicate. As these materials are pricing at higher costs in the current markets and increasing demand for superabsorbent materials materials in personal care and paints & coatings industries will influence the end user products from these industries. Superabsorbent polymers market demonstrates a high growth potential as the demand for these materials is increasing other key players are likely to invest in opening new production capacities to meet the global demand with better solutions.
Industry/ Innovation/ Related News:
June 2015 – BASF SE (Germany), one of the key manufacturers of Superabsorbent Polymers also having presence in Brazil, has announced opening of its new production line for acrylic acid, butyl acrylate and superabsorbent polymers in Camaçari, Bahia, Brazil. These are the first plants for acrylic acid and superabsorbent polymers in South America. The complex has a capacity of 160,000 tons of acrylic acid per year. The investment of more than €500 million ($567 million) is the largest in BASF’s more than century-long history in South America. This complex will secure national and regional supply of products that are currently imported. Moreover it reduces the demand for raw material to produce superabsorbent polymers in various applications.
September 2015 – Evonik Industries AG (Germany) a global manufacturer of Superabsorbent Polymers, has announced that company plans to increase its production capacities for Superabsorbent Polymers with selected debottlenecking measures. With the project engineering phase complete, the company says implementation will now be conducted in several phases. Evonik’s global superabsorbent production capacities will increase by approximately 40,000 metric tons per year. The group sees the biggest potential in its Krefeld and Rheinmünster plants. The company says the resulting flexibility for planning and utilizing production capacities will be used to secure and expand Evonik’s leading market position in the area of superabsorbent polymers.
June 2017 – NIPPON SHOKUBAI CO., LTD. (Japan), Japanese Superabsorbent Polymer producer Nippon Shokubai announced a substantial price increase for superabsorbent polymers effective from July 1, 2017, or as contracts and agreements allow. The announcement said prices will go up by $200 a tonne. This is anticipated to have a negative impact in the North East Asia region.
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