Global Super Absorbent Polymer Market is set to boost at a CAGR of 5.40% until 2034, predict FMI’s Analysts
The rising global population alongside increasing hygiene consciousness, especially in developing areas, is fueling the growth of the Super Absorbent Polymer Market. The widespread use of these polymers in essential products like diapers, sanitary napkins, and adult incontinence pads is propelling market expansion
/EIN News/ -- NEWARK, Del, April 17, 2024 (GLOBE NEWSWIRE) -- The super absorbent polymer market is expected to be valued at US$ 10.7 billion by 2024. The valuation of the market is estimated to be US$ 18.23 billion by 2034, projected at a CAGR of 5.40%.
One significant driver for the SAP industry is the augmenting demand for hygiene and personal care products globally. With the surge in hygiene awareness and growing populations, particularly in emerging economies, the demand for these products is expected to drive the growth of the SAP market.
Concerns regarding non-biodegradability and potential pollution pose challenges for market growth, especially in regions where ecological sustainability is a priority. Addressing these concerns and developing eco-friendly alternatives are essential for mitigating this restraint and sustaining market growth.
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Despite these challenges, there are significant opportunities for the SAP industry, particularly in agriculture and water management. Bio-based SAP innovations offer manufacturers opportunities to meet the increasing demand for environmentally friendly products and capitalize on emerging market trends.
As environmental concerns gain prominence, there is a growing focus on developing SAPs from renewable and biodegradable sources, such as starch-based polymers or cellulose derivatives. This trend aligned with consumer preferences for eco-friendly products and supports the industrial transition towards sustainability.
Key Takeaways from the Market Study:
- Under application, the disposable diaper segment is accounted to hold a market share of 76.5% in 2024.
- China is expected to register at a CAGR of 6% by 2034.
- India registers significant growth, projected at a CAGR of 8% by 2034.
- Based on the product type, the sodium polyacrylate segment is accounted to hold a market share of 68% in 2024.
“The surge in demand for hygiene and personal care products globally due to the rise in population growth and hygiene awareness, a corresponding surge in the use of disposable diapers, feminine hygiene products, etc. can be seen pushing the super absorbent polymer market” - says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
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Scope of the Report:
| Attributes | Details | |||
| Estimated Market Size in 2024 | US$ 10.7 billion | |||
| Projected Market Valuation in 2034 | US$ 18.23 billion | |||
| Value-based CAGR 2024 to 2034 | 5.4% | |||
| Forecast Period | 2024 to 2034 | |||
| Historical Data Available for | 2019 to 2023 | |||
| Market Analysis | Value in US$ billion | |||
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Competitive Landscape:
In the competitive landscape of the super absorbent polymer (SAP) industry, established players dominate with extensive product portfolios and global reach.
Startups innovate with niche solutions, while differentiation through product quality, cost-effectiveness, and sustainability is crucial for success in this dynamic market driven by hygiene and personal care demands.
Some of the key developments are:
In 2022, Formosa Plastic Corporation announced a significant expansion of its super absorbent polymer (SAP) production capacity to meet growing demand. The development underscored the company's commitment to meeting market needs and strengthening its position in the SAP industry.
In 2022, Songwon Industrial Co. Ltd. unveiled a breakthrough innovation in biodegradable SAP technology, offering a sustainable alternative to conventional SAPs. This advancement aligned with the focus on environmental sustainability and positions Songwon as a leader in eco-friendly SAP solutions.
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Super Absorbent Polymer Market Segmentation:
By Product:
- Sodium Polyacrylate
- Polyacrylamide Copolymer
- Others
By Application:
- Disposable Diapers
- Adult Incontinence Products
- Feminine Hygiene Products
- Agriculture Products
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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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 over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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