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Comprehensive Analysis on Superabsorbent Polymers (SAP) Market by Top Players: BASF, Evonik, LG Chem, Formosa Plastics Group, Nippon Shokubai Europe
Superabsorbent Polymers (SAP) Market
Increasing technological advancement in agriculture and horticulture in developed nations will drive superabsorbent polymer market. The product act as a miniature reservoir to the soil, providing aeration to the crops. Moreover, these polymers are used to manufacture sealing composites made by blending modified superabsorbent polymer into elastomers or rubber. This composite is majorly used as mortar for joints in construction industry.
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Rising reconstruction industry in North America will drive superabsorbent polymer market by 2025. Rising aging population has led to increase in use of adult incontinence products, subsequently leading to growing demand for these products in various geographies.
North America market led by the U.S, will account for around 25% of superabsorbent polymer market. Growth in incidence of chronic diseases, increase in the general awareness of patients, and technological advancements will drive market. Moreover, the life expectancy in the region is 78.7 years. Growing elderly population in the region will increase the adult continence product by 2025.
The major players superabsorbent polymer market includes:
• Evonik
• LG Chem
• BASF
• Yixing Danson Technology Formosa Plastics
• Nippon Shokubai
• Zheijiang Satellite
• San-Dia Polymers
• Sumitomo Chemicals
• Songwon Industrial Co. Ltd.
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On the basis of application segment, agriculture will grow at the annual growth rate of 5.8% in next seven years. Increasing food requirement coupled with decreasing availability of arable land per capita will compel farmers to cultivate in difficult conditions owing to the ability to absorb and release water. Willingness of farmers to apply modern methods to increase food yield is expected to drive superabsorbent polymer market by 2025.
On the other flip, volatile raw material prices expected to hamper growth of superabsorbent polymer market due to instability of oil prices. In addition, rise in oil prices will increase the cost of energy as production process is energy-intensive.
Polyacrylamide copolymer will generate the revenue of nearly 2.5 billion by 2025. This polymer exhibits nontoxic behavior and high-water retention property and is used for application including soft contact lenses, feminine hygiene products, baby diapers, surgical pads, etc.
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