Super absorbent polymers (SAP) are polyacrylate or polyacrylamide-based polymers that can absorb and retain large amounts of water and aqueous solutions. They are primarily used in absorbent baby diapers, feminine hygiene products, adult incontinence products and other hygiene products to increase absorbency and reduce leakage. SAPs help improve comfort and skin health by drawing away moisture from skin and trapping it within the product’s core. Given the growing baby and aging populations globally, demand for absorbent hygiene products is increasing rapidly. This is driving increased consumption of SAP across the world.
The global Super Absorbent Polymers Market is estimated to be valued at US$10.5 billion in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the super absorbent polymers market is the increasing adoption of sustainable and bio-based SAPs. Conventional SAPs are primarily derived from petroleum sources which are non-renewable. However, growing environmental concerns are encouraging market players to develop bio-based or green superabsorbent polymers using renewable resources. For instance, manufacturers are extracting cellulose from agricultural waste such as wheat straw, corn stover and sugarcane bagasse to synthesise cellulose-based SAPs that have comparable absorption properties as fossil fuel-derived polymers. The adoption of eco-friendly SAPs is expected to steadily rise in the coming years as sustainability becomes an important criterion for numerous industries including personal care.
- Threat of new entrants: Low threat of new entrants as the super absorbent polymers market requires high capital investment and there are already well established manufacturers in the market.
- Bargaining power of buyers: Moderate bargaining power of buyers since there is a wide range of product offerings available from different manufacturers.
- Bargaining power of suppliers: High bargaining power of suppliers due to limited number of raw material suppliers and differentiated nature of raw materials required for manufacturing super absorbent polymers.
- Threat of new substitutes: Low threat of new substitutes as super absorbent polymers have found wide applications where no close substitutes are available.
- Competitive rivalry: High competitive rivalry among existing players to gain higher market share and maintain leadership in the global market. Players focus on product development, acquisitions and expansions.
The global super absorbent polymers market is expected to witness high growth over the forecast period.
Asia Pacific is projected to be the fastest growing as well as the dominating regional market over the forecast period due to growing demand from countries like China and India.
Key players operating in the super absorbent polymers market are BASF SE, Nippon Shokubai Co. Ltd., Evonik Industries AG, Sumitomo Seika Chemicals Company Ltd., LG Chemicals Ltd. Sanyo Chemical Industries. The major players are focusing on tapping growth opportunities in emerging economies by enhancing their production capabilities. Players are investing in R&D activities to develop innovative products with enhanced absorption capacities and gel strength.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it