Biodegradable Superabsorbent Materials Market to worth $192mn by 2023: Global Market Insights Inc.
Global Biodegradable Superabsorbent Materials Market size was 54.8 kilo tons in 2015 as per the latest research report by Global Market Insights, Inc. Rise in consumer awareness towards adopting eco-friendly products due to health and environment concerns are trending factors to drive biodegradable superabsorbent materials market growth.
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Biodegradable superabsorbent materials market size is set to be valued at USD 192.6 million by 2023. Rise in infant population growth accompanied by increase in consumer affordability has driven disposable baby diapers demand which should enhance biodegradable superabsorbent materials market size.
PVA was the largest revenue generating product and was valued at over USD 83 million in 2015. Personal hygiene and agriculture were major applications.
Polysaccharides are forecast to achieve highest gains at more than 9% CAGR up to 2023. Abundant starch availability as feedstock coupled with its bio-based properties are considered to make them the most preferable polymers.
Technology innovation along with rising non-toxic material usage in manufacturing industries owing to environmental regulations should positively persuade biodegradable superabsorbent materials market growth. Rising geriatric population accompanied by increasing bladder related problems among adult has increased the adult incontinence product consumption. It is also used during pregnancy and childbirth.
Improvement in farming techniques to increase crop yield coupled with urge to adopt effective water utilization in arid areas is another lucrative factor stimulating industry growth. This factor may drive biodegradable superabsorbent polymers market for agricultural applications.
Increasing investment by companies such as Cargill, Novozymes, Metabolix and Myriant to develop bio based acrylic acid may hinder industry growth and affect biodegradable superabsorbent polymer market price trend.
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Global biodegradable superabsorbent materials market size may reach 89.6 kilo tons by 2023, growing at 6.4% CAGR. Rise in environment consciousness along with increasing health risks pertaining to non-degradable toxic chemicals wastage are key factors fueling industry growth.
Disposable diapers dominated the application landscape and were valued at over USD 79 million in 2015. Shift in consumer preference for disposable baby diapers due to increase in purchasing power and high living standard has propelled application demand.
Agriculture application may witness growth of more than 7% CAGR up to 2023. Rising water scarcity for crop cultivation have motivated industry to adopt biodegradable superabsorbents in farming owing to its water retention properties.
Europe, predominant by Germany, was the largest revenue generating region and was valued at close to USD 50 million in 2015. The region is mainly driven by environment regulations and consumer awareness.
Germany polysaccharides based biodegradable superabsorbent materials market size may surpass 1.75 kilo tons by 2023. APAC, with introduction of new farming techniques in China and India, is forecast to achieve highest gains at over 6.5% CAGR up to 2023.
China agriculture applications may register over 1 kilo tons by 2023 with gains at over 6.8% CAGR. U.S. adult incontinence applications may witness 5.8% CAGR and surpass 2.1 kilo tons by 2023.
Medical applications may grow significantly and exceed USD 5 million valuation by 2023. Increase in medical problems related to bones and joints are encouraging to adopt cellulose hydrogel biodegradable superabsorbent polymers, owing to its healing properties. It is also used in various medical treatments to absorb extra water in human body.
Biodegradable superabsorbent materials market share is competitive. Key industry participants include ADM, TryEco, Coloplast A/S and Weyerhaeuser.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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