Super Absorbent Polymer Market - Forecast(2024 - 2030)

Overview :

The super absorbent polymer market size is forecast to reach USD 14.9 billion by 2030, after growing at a CAGR of 6.4% during the forecast period 2024-2030. Superabsorbent polymers (SAPs) are a type of hydrogel material that can absorb and retain large amounts of liquid relative to their weight. These polymers are commonly used as absorbent materials in a variety of applications, including diapers, sanitary napkins, adult incontinence products, and agriculture, and even in the medical field for wound dressings and surgical sponges.

Growing health consciousness about the use of sanitary pads and infant diapers has a significant impact on the worldwide SAP market. The increasing global population, particularly in urban areas, contributes to the growing demand for hygiene products. Urbanization leads to higher usage of disposable diapers and other personal care items, boosting the demand for SAP market.

Report Coverage :

The report “Super Absorbent Market– Forecast (2024-2030)”, by IndustryARC, covers an in-depth analysis of the following segments of the Super Absorbent Market.

By Type: Sodium Polyacrylate, Polyacrylamide Copolymer, and Others

By Application: Personal Care, Medical, Agriculture, Industrial, and Others

By Process: Gel Polymerization, Inverse Suspension Polymerization, Solution Polymerization, and Others

By Geography:  North America, South America, Europe, APAC, and RoW

Key Takeaways :

• The APAC region signifies the fastest growth rate in the super absorbent market. Increasing production and government support is anticipated to drive market growth. China is one of the largest consumers of superabsorbent polymers in the world with a CAGR of 8.1% during the forecast period. The market for SAPs in China has been growing steadily, driven by factors such as population growth, increased urbanization, and changing consumer lifestyles. One of the world's fastest-growing aging populations is in China. Due to a higher life expectancy, it is anticipated that by 2040, 28% of China's population will be over 60.
• In July 2021, The previously announced transaction between Evonik and DURECT Corporation to purchase the LACTEL® Absorbable Polymers product line has been completed.
• Growing health consciousness about the use of sanitary pads and infant diapers has a significant impact on the worldwide SAP market. Furthermore, because of its ability to absorb water up to 1,000 times its own size, SAPs are utilized as soil conditioners in the agricultural industry. SAP helps plants withstand prolonged moisture stress, promotes seed germination, increases plant age, and lowers labor costs because it can hold 500% more water than its weight in water. In the near future, there will be a rise in the market demand for super absorbent polymer due to the increasing use of environmentally friendly and sustainable products.

By Type- Segment Analysis

Sodium Polyacrylate dominated the Super Absorbent Market in 2023.  A tonne of sodium polyacrylate costs around $1200. Sodium polyacrylate is another kind of highly absorbent polymer that is mostly utilized in the production of absorbent products like sanitary towels and paper diapers. Sodium polyacrylate (SAP) has an exceptional absorbency; it may absorb water several hundred times its weight. It begins as a powder and expands into a gel when it comes into contact with water. This gel is more difficult to squeeze the moisture out of than other popular absorbent materials.

By Applications- Segment Analysis

Personal Care applications occupied a dominant position in the Super Absorbent Market in 2023. The middle class's disposable income and population are the main determinants of personal hygiene product use. The increasing disposable income of citizens increases the demand for baby diapers is anticipated to increase due to the rising birth rate. Increased awareness of personal hygiene and health in the world has led to a surge in the use of disposable hygiene products. Consumers are looking for products that offer superior performance and comfort, which are enabled by Superabsorbent polymer technology. In March 2021, By constructing a cutting-edge Superabsorbent Excellence Centre at its Verbond location in Antwerp, Belgium, BASF will improve its capacity for innovation in the superabsorbent polymer market. With the €25 million investment, the corporation has demonstrated its commitment to the hygiene industry.

By Process-Segment Analysis

The Gel Polymerization segment accounted for the largest share of the market in 2023. The gel polymerization process is a crucial step in the production of superabsorbent polymers (SAPs), which are materials with the ability to absorb and retain large amounts of liquid. The superabsorbent polymer market is driven by various factors, and the gel polymerization process plays a significant role in meeting the demand for these versatile materials.

The hygiene product industry, including diapers, adult incontinence products, and feminine hygiene items, is a major consumer of superabsorbent polymers. The gel polymerization process enables the production of SAPs that enhance the absorbency and performance of these products.

By Geography - Segment Analysis

The North American region in the super absorbent polymer market is anticipated to hold a major share in the market, and is expected to grow a CAGR of 6.8% during the forecast period (2024-2030). Significant government-implemented initiatives like Medicaid and the Affordable Care Act (ACA) have allowed a sizable portion of the populace access to high-quality, efficient healthcare facilities and services. This has increased the demand in the United States for name-brand medications, healthcare services, and medical equipment. As a result, the nation is using more super-absorbent polymers for developing disposable medical connections, syringes, depth filters, and other items. Excellent long-term investment opportunities are highlighted by the Centers for Medicare & Medicaid Services, which anticipates that U.S. healthcare spending will reach $4.4 trillion in 2022 and expand at a rate of 5.4% year until 2031. SAPs keep the wound wet, which aids in healing, and are used in medical and wound care products. There is a steady demand for these products due to the expanding healthcare sector in the U.S.

Superabsorbent polymers (SAP), which are utilized in a variety of hygiene products, including diapers, are being developed by many different companies in partnership. For instance, in 2019 A joint development agreement was established by US-based Archer Daniels Midland Company and LG Chem to produce biobased acrylic acid, a basic component needed to make superabsorbent polymers (SAP), which are used in a variety of hygiene products, including diapers.

Drivers – Super Absorbent Market

·         Increasing Birth Rates Will Drive The SAP Market:

One of the major factors in market expansion is the rising population, which is accompanied by an increasing urban population. Furthermore, rising disposable income, a growing female labor force, improving literacy rates, and so on are some of the elements that influence family living standards and spending habits and are predicted to be important growth determinants. In the next years, the industry will most certainly be driven by consumers' increased health and hygiene concerns.

SuperBottoms, India's cloth diaper business, will release the UNO 2.0 for new parents to put on their newborns in July 2021. All cloth diapers are composed completely of fabric and come with organic cotton pads. Several government organizations have also launched health awareness campaigns, the main goal of which is to raise young parents' knowledge of the hygiene and health of their kids.

For instance, through its Latin American Centre for Perinatology (CLAP), the Pan American Health Organization (PAHO) launched a campaign in February 2022 to promote good care practices for newborns and create knowledge about them. Skin-to-skin contact, exclusive breastfeeding, and keeping the baby dry and clean are a few of these behaviors.

·         Growing Awareness About Hygiene Products Globally Will Escalate The Demand For Saps In The Market :

Tissues are widely used for rapid cleaning all over the world. various hygiene items are also becoming popular in various places as a result of increased safety awareness. They are essential household items for maintaining a healthy and sanitary lifestyle. Tissue and hygiene products are a subset of self-care goods. Because of governments' aggressive biodegradable product policies, the business is expanding as a result of increased demand for recyclable materials.

COVID-19 required consumers to utilize personal hygiene items in addition to recyclable products. To stay virus-free throughout the epidemic, people began utilizing rubbing alcohol, hand sanitizers, and other sanitation and hygiene items. People prefer hygiene solutions to swiftly clean surfaces and hands to prevent illness when going out for whatever reason, particularly when traveling via public transportation.

Companies are concentrating their efforts on the creation of innovative feminine hygiene products aimed at certain female demographics. Strategic acquisitions and mergers to boost their position in the personal care sector are anticipated to acquire traction. The market's major players are focusing on the launch of innovative goods that provide comfort and assistance on normal menstruation days.

Kimberly-Clark established a collaboration with RWDC Industries in June 2021 to advance sustainable technology for consumer products. Similarly, in February 2021, Diva International debuted the Diva Protect range, a new product development endeavor that includes an anti-bacterial lotion. Companies that make hygiene products are committed to creating new options for women in order to diversify their portfolios.

Challenges – Super Absorbent Market

·         Environmental Regulations That Are Strict Regarding Recycling Waste:

Sodium polyacrylate (Na-PA) is a very absorbent polymer that is widely utilized in a variety of hygiene products. The polymer is currently made using fossil fuels, which has negative environmental consequences.

When superabsorbent polymers (SAPs) are discharged into soil or water, they are non-biodegradable and can harm plants, animals, and humans. They can hinder water from reaching plant roots or natural water sources, affecting ecosystems and water supply.

Many countries are also implementing environmental controls on ultra-absorbent polymers. For example, in Europe, starting on October 17, 2023, the Commission Regulation (EU) 2023/2055, also known as the "microplastics restriction," forbids the use of synthetic polymer microparticles on their own or when purposefully added to mixes. The Commission is working on a detailed Q&A paper to aid with the implementation of the new rules. By the end of 2023, the document should be available on this page. The goal is not to restrict all glitter but to substitute more environmentally friendly glitter that will not pollute waters.

·         The Global Superabsorbent Polymers Market Is Expected To Be Hampered By Raw Material Price Volatility:

Acrylic acid is the most common raw ingredient utilized in the production of super-absorbent polymers. Acrylic acid prices have been variable due to swings in crude oil prices as well as a lack of supply in the Asian market. Acrylic acid prices will be influenced by the gradual recovery of crude oil prices. China is the world's leading producer of acrylic acid. As a result of environmental constraints in China, acrylic acid manufacturing plants are operating at reduced rates, closing the supply-demand imbalance.

This has also affected the cost of ultra-absorbent polymers. In recent years, manufacturers such as Nippon Shokubai and Evonik have announced price increases for their extremely absorbent polymers. However, the impact is projected to be mitigated as new capacity is added, stabilizing prices in the coming years.

As a result, throughout the middle of the quarter, Acrylic Acid prices in India and China hovered around USD 1317/MT and USD 1310/MT, respectively. Acrylic acid prices in Europe remained high during the third quarter, boosted by strong demand and insufficient supply across the continent.

Market Landscape :

In 2023, the top ten players in the super absorbent polymer market share accounted for 84.5% of the share. Major players in the super absorbent polymer market are Nippon Shokubai Co Ltd, BASF, Evonik, Sumitomo Seika Chemicals, SDP Global, Dansonpack Industries, and LG Chemicals.

Developments:

Ø  In May, 2023, Nippon Shokubai began operating a commercial acrylic acid production facility in Banten, Indonesia In response to the rising demand for acrylic acid and super-absorbent polymers.

Ø  In September, 2022, An eco-friendly superabsorbent polymer (SAP) made with plant-based biomass as one of its raw materials was developed by SDP Global Co., Ltd., a wholly-owned subsidiary of Sanyo Chemical Industries, Ltd., and has been awarded the Biomass Mark certification by the Japan Organics Recycling Association.

Ø  In March, 2021, BASF has expanded its facility by constructing a cutting-edge Superabsorbents Excellence Centre at its Verbund location in Antwerp, Belgium, BASF will improve its superabsorbent polymer business's capacity for innovation. The €25 million investment demonstrates the company's firm commitment to the hygiene industry as a crucial link in the acrylics value chain.