Superabsorbent Polymers Market - Global Industry Analysis, Research and Growth By 2020

Vendor landscape of the global superabsorbent polymers market is highly consolidated as the top six players accounting for nearly 90% of the overall market in 2013. Among them Bayer AG, Nippon Shokubai Co. Ltd, Formosa Plastics Group, BASF, and Mitsubishi Chemical Holdings Corporation were most notable, finds Transparency Market Research (TMR), in a new study. These companies are focusing on various strategies to gain a stronger foothold in the market. For instance, the leading players are paying attention on diversifying their product portfolio to remain competitive through the forecast period.

TMR forecasts the global superabsorbent polymers market to exhibit a CAGR of 5.5% between 2014 and 2020. At this pace, the market will reach US$8.78 bn by the end of 2020, from US$60.06 bn in 2013. Regionally, while North America dominated the market in 2013, Asia Pacific is expected to report the leading CAGR during the aforementioned forecast period. Based on application, the baby diapers industry held the dominant share of 74% in the market in 2013, and is expected to remain the lead even in the forthcoming years.

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Rising Demand for Baby Diapers Industry to Boost Growth

Considering the dominance of the baby diapers industry, the rising demand for baby diapers witnessed especially in emerging nations across Asia Pacific will create growth opportunities for the market. Besides this, the demand for adult diapers has increased as well owing the rising incidence of chronic ailments worldwide. Spurred by these factors, the superabsorbent polymers market will exhibit strong growth in the coming years. With governments around the world launching initiatives to promote hygiene and wellness among people living in remote years, the demand for superabsorbent polymers is expected to surge further in the near future.

While over the next few years, the diapers industry is expected to remain at the fore, the market will witness steadily rising demand from agriculture, construction, and medical industries. Superabsorbent polymers have high absorbing and retaining power, due to which, their application is forecast to diversify in the coming years. For instance, in the agriculture industry, superabsorbent polymers are used for potting soil. Besides this, their application in the medical designs manufacturing has gained pace as well. In the construction industry, superabsorbent polymers are used in cable wires.

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Volatility in Raw Material Prices to Pose Threat

While rising application to remain key to the market’s upward trajectory, growth is projected be hindered by fluctuating prices of acrylic acid, which is a major raw material that goes in the production of superabsorbent polymers. Given the scenario and rising environmental concerns, companies are compelled to look for bio-based materials. Superabsorbent polymers are now being derived from bio-based materials by using starch and cellulose. This is expected to keep the demand for superabsorbent polymers high in the forthcoming years.

Also the rising demand from emerging nations such as India and China will act in favor of the market’s growth. Of course, the demand for non-toxic variants of superabsorbent polymers is expected to be higher than the rest in the coming years.

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