iCrowd Newswire – Jun 16, 2020
The chemical industry is focused to keep the business operations running along with ensuring the labor safety amid the COVID-19 pandemic. To recover the losses created by the decline in demand for various products, the companies are capitalizing on the escalating demand for products such as disinfectants and personal protective equipment. Many leading players in the chemical industry have expanded their business to enter into the production of safety products. Companies are resorting to advanced technologies in production to reduce the dependence on work-force.
They are increasingly adopting advanced digital capabilities to integrate supply chain and logistics to ensure the effective delivery of products. The industry heads are seeking the real-time situation of their supply chains to identify potential weaknesses, especially in terms of geography, and strengthen it. The financial disclosures are being extended beyond the usual financial statements to deal with the risks that have aroused amid the COVID-19 pandemic
The global demand for super absorbent polymers reached 8,166.8 Kilo Tons in 2018, unveils the new research report on the super absorbent polymers market by PMR. As per PMR research study, the super absorbent polymers market is projected to grow by ~5% CAGR during the forecast period. Changing consumer preference and growing awareness about hygiene products is expected to pave the way for super absorbent polymers market growth in the coming years.
According to the analysis, disposable diapers is the major application segment for superabsorbent polymers. With increasing hygiene awareness all over the globe, the demand for baby diapers is increasing steadily. Super absorbent polymers used in baby diapers absorb urine readily and thus, owing to the convenience they offer, diapers are being readily adopted. Increasing demand for thinner diapers is creating demand for super absorbent polymers with higher absorbing properties.
Furthermore, factors such as increased demand for disposable diapers and adult incontinence products are expected to build-up growth potential for the super absorbent polymers market during 2019-2029. The global super absorbent polymers market has registered significant growth in the last few years and was valued at ~US$ 8.1 Bn in 2018. Riding on this wave of success, it is expected to reach a market valuation of ~US$ 13.6 Bn over the forecast period.
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Rising Market Attractiveness of Asia Pacific
Asia Pacific is one of the most attractive regions for the super absorbent polymers market in terms of consumption. Japan, China, and South Korea collectively account for the lion’s share in terms of production as they house many local as well as global producers of super absorbent polymers. Therefore, many of the local as well as global manufacturers are increasing their production capacities in order to cater to the growing demand for super absorbent polymers.
- In October 2014, Nippon Shokubai Co. Ltd. announced the expansion of its production capacity at the Himeji plant. The company planned to expand its production capacity up to 50,000 MT/Y.
- In April 2014, BASF SE and Sinopec inaugurated two new plants for superabsorbent polymers and acrylic acid at their Verbund site, BASF-YPC Co., Ltd in China.
Disposable Diapers – A Prime Mover for the Super Absorbent Polymers Market
A robust market trajectory is projected for the super absorbent polymers market. In addition, disposable diapers using a sodium polyacrylate are expected to remain the prominent application of super absorbent polymers.
- The disposable diaper industry has been experiencing robust growth rate, especially in developing economies such as China, India, Japan, etc. Increasing awareness for usage of disposable diapers and high birth rates in the region are expected to further drive the diaper industry growth.
- Sodium polyacrylate is an ideal choice for personal care products, such as disposable diapers, adult incontinence products, and feminine hygiene items. Furthermore, sodium polyacrylate is also used as a thickening agent in industrial applications and is also used for water retention in the agriculture industry.
- Nippon Shokubai Co. Ltd.
- BASF SE
- KAO Corporation
- Sumitomo Seika Chemicals Co. Ltd.
- Sanyo Chemicals Industries Ltd.
- LG Chemicals Ltd.
- Yixing Danson Technology
- Zhejiang Weilong Polymer Material Co., Ltd.
- Quan Zhou Banglida Industry Co. LTd.
- Shandong Nuoer Biological Technology Co., Ltd.
- Wanhua Chemical Group Co. Ltd.
- Sinofloc Chemical Ltd.
- SNF (U.K.) Ltd.
- Formosa Plastic Corporation
- Songwon Industrial Co. Ltd.
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Keywords: Super Absorbent Polymers Market Analysis, Super Absorbent Polymers Market Growth, Super Absorbent Polymers Market Trends, Super Absorbent Polymers Market Insights, Super Absorbent Polymers Market Industry,Super Absorbent Polymers Market Demand, Super Absorbent Polymers Market Applications, Super Absorbent Polymers Market Applications