Super Absorbent Polymers Market to Cross $10 bn - Report

The global super absorbent polymers market is forecast to cross $10 billion by 2026, on account of rising demand for disposable diapers and adult incontinence products. Booming disposable diaper sales across the globe can be attributed to rising birth rate coupled with increasing purchasing power, according to a TechSci Research report.

Global diapers market was valued at $53 billion in 2015 and the market is forecast to grow at a CAGR of over 5 percent during 2015-2022 to reach $77 billion by 2022. Moreover, shifting consumer preference from cotton cloth to sanitary pads and rising demand for ultrathin diapers is projected to augur well for global super absorbent polymers market through 2026, stated the report – ‘Global Super Absorbent Polymers Market for 2012-2026.’

Further, growth in global super absorbent polymers market can be also be attributed to booming demand from packaging and wastewater treatment sectors.

Demand for sodium polyacrylate based super absorbent polymers is expected to witness strong growth across the globe in the coming years, due to increasing demand from paints & coatings industry. Global paints & coatings market was estimated at $145 billion in 2017 and is projected to grow at a CAGR of over 5 percent to reach $208 billion by 2024. Additionally, surging demand for super absorbent polymers in oil & gas industry and shift towards alternate raw materials for development of absorbent polymers is also boosting growth in global super absorbent polymers market.

Some of the major super absorbent polymer manufacturers include Nippon Shokubai, BASF SE, Evonik Industries, Sanyo Chemical Industries, LG Chemicals, Sumitomo Chemical Co Ltd, Formosa Plastics Corporation, Yixing Danson Technology Co Ltd, Kao Corporation, Zhejiang Satellite PetroChemical Co Ltd, Songwon Industrial Co Ltd etc. Furthermore, leading market players such as LG Chem and Sumitomo Seika are focusing on expanding their production capacities to cater the growing demand for super absorbent polymers.

“Growing awareness about water retention ability of super absorbent polymers makes them useful in agriculture sector. Super absorbent polymers increase the water-holding capacity of the soil and enhance soil permeability, which further helps crops to get better nutrients,” said Karan Chechi, research director, TechSci Research.

“Escalating drought incidences in countries such as India and southern & eastern parts of Africa is projected to propel demand for super absorbent polymers during the forecast period, however, global diapers market would continue its dominance as the largest end-user segment through 2026,” he added.