Superabsorbent Polymers Global Market Report 2024

The superabsorbent polymers market size has grown strongly in recent years. It will grow from $9.25 billion in 2023 to $9.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed in the historic period can be attributed to various factors including an increased demand for hygiene products, applications within agriculture, utilization in medical and wound care sectors, the production of female hygiene products, and usage within the construction industry. These elements collectively contributed to the growth and expansion observed within the superabsorbent polymer industry during that period.

The superabsorbent polymers market size is expected to see strong growth in the next few years. It will grow to $13.24 billion in 2028 at a compound annual growth rate (CAGR) of 7.4%. The anticipated growth in the forecast period is likely driven by several factors, including the aging population, heightened attention to agriculture, advancements in medical and healthcare fields, the growing demand for sustainable and eco-friendly products, and ongoing innovations in hygiene products.

Increased awareness of personal hygiene is a pivotal factor propelling the superabsorbent polymers market. These polymers are crucial in various products such as diapers, feminine hygiene items, and adult incontinence products due to their exceptional absorption capabilities. The COVID-19 pandemic has notably amplified consumers' inclination towards personal hygiene and safety products, as observed with 55% of Indian consumers intending to purchase more of these products, thus catalyzing growth in the superabsorbent polymers market.

The advancing growth of the aging population is set to be a significant catalyst for the expansion of the superabsorbent polymer market moving forward. An aging population signifies a demographic shift with a higher ratio of elderly individuals within a society. Superabsorbent polymers find extensive application in products tailored for this demographic, such as adult diapers and hygiene solutions, providing efficient moisture absorption and management. The World Health Organization's projection in October 2022 revealed an impending demographic shift, with an estimated one-sixth of the global populace being 60 years or older by 2030. This demographic is expected to rise from 1 billion in 2020 to 1.4 billion by 2030 and further double to reach 2.1 billion by 2050. Thus, the burgeoning aging population stands as a driving force behind the robust growth of the superabsorbent polymer market.

A strategic focus among major companies revolves around developing sustainable polymers sourced from organic materials, specifically plant-based biomass. SDP Global Co, a Japan-based chemical products manufacturer, achieved the Biomass Mark certification in September 2022 by creating an eco-friendly superabsorbent polymer (SAP). This SAP, utilizing plant-based biomass for 10% to 25% of its raw materials, boasts a cross-linked structure capable of absorbing water hundreds to thousands of times its weight, aligning with the industry's sustainability goals.

Major entities focus on developing environmentally friendly products through advanced technologies such as super absorbent polymer (SAP) technology. This material efficiently retains substantial fluid volumes. For example, in September 2022, City Pharmacy Limited, a Papua New Guinea-based consumer goods company, unveiled Bumbums, an upgraded environmentally friendly diaper brand. Utilizing Japanese Sumitomo super absorbent polymer (SAP) technology, the product ensures enhanced absorbency for superior baby hygiene and lasting comfort. Aloe extract caters to skin sensitivity, while a biodegradable fiber layer aligns with environmental sustainability objectives.

In August 2021, Danimer Scientific, a US-based biopolymer manufacturer, finalized the acquisition of Novomer, a US chemical conversion technology company, for $152 million. This acquisition is set to accelerate Danimer Scientific's objective of delivering high-quality biopolymer products to its clientele, enhancing its market position through Novomer's technology and expertise.

Major companies operating in the superabsorbent polymers market report are Sumitomo Seika Chemicals Co. Ltd., ADM Company, BASF SE, Dow Chemical Company, LG Chem Ltd., Mitsubishi Chemical Corporation, Wanhua Chemical Group Co. Ltd., Evonik Industries AG, Solvay SA, KAO Corporation, Formosa Plastics Corporation, Kuraray Co. Ltd., Zhejiang Satellite Petrochemical Co. Ltd., Nippon Shokubai Co. Ltd., SDP Global Co. Ltd., Rayonier Advanced Materials Inc., Sanyo Chemical Industries Ltd., Songwon Industrial Co. Ltd., SNF Floerger Group, Satellite Science & Technology Co. Ltd., Chase Corporation, Sinofloc Chemical Ltd., OPX Biotechnologies, Xitao Polymer Co. Ltd., Yixing Danson Technology Co. Ltd., Quan Zhou Banglida Technology Industry Co. Ltd., Shandong Nuoer Biological Technology Co. Ltd., Soco Chemical Co. Ltd., Chinafloc Chemical Co. Ltd., Chemtex Speciality Limited.

Asia- Pacific was the largest region in the superabsorbent polymers market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the superabsorbent polymers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the superabsorbent polymers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Superabsorbent polymers come in various types such as sodium polyacrylate, polyacrylate/polyacrylamide, and copolymers. Sodium polyacrylate is a variant containing sodium atoms evenly distributed within the network and water. Production methods for these polymers encompass suspension polymerization, solution polymerization, and gel polymerization. These superabsorbent polymers find applications across diverse sectors including personal hygiene, packaging, construction, oil and gas industries, and various other applications.

The superabsorbent polymers market research report is one of a series of new reports that provides superabsorbent polymers market statistics, including superabsorbent polymers industry global market size, regional shares, competitors with a superabsorbent polymers market share, detailed superabsorbent polymers market segments, market trends and opportunities, and any further data you may need to thrive in the superabsorbent polymers industry. This superabsorbent polymer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The superabsorbent polymer market consists of sales of cross-linked polyacrylamides and polyacrylates and cellulose- or starch-acrylonitrile graft copolymers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.