Demand for Super Absorbent Polymers Market Expected to Surpass US$ 9 Billion by 2020: Future Market Insights
By Business Wire News
By Business Wire News
VALLEY COTTAGE, N.Y.
Demand for super absorbent polymers (SAP), also known as hydrophilic polymers, is expected to reach 2.4 million tonnes by 2016. Surging sales of disposable diapers, especially in developing countries, is expected to boost the demand for super absorbent polymers in the near future. By 2020, the global hydrophilic polymers market is expected to reach US$ 9 billion in value.
Disposable diapers accounted for nearly 75% market share of the global super absorbent polymer market in 2014. Demand for disposable diapers is expected to reach 1,790 thousand tonnes by 2016, up from 1,593 thousand tonnes in 2014.
Asia Pacific Key Market for SAP
In terms of volume, Asia Pacific excluding Japan (APEJ), Europe, and North America are the three largest markets for super absorbent polymers. Demand for super absorbent polymers in APEJ is expected to reach 705.8 thousand tonnes by 2016, up from 627 thousand tonnes in 2014.
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The Europe super absorbent polymers market is expected to be fuelled by rising awareness and subsequent demand for diapers, adult incontinence products, and female hygienic products in Eastern Europe. In terms of volume, the demand for super absorbent polymers in Europe is forecasted to amplify at 4.5% CAGR during the forecast period. The North America super absorbent polymer market is expected to expand at a CAGR of 3.3% during the forecast period 2015-2020.
The key players analysed by FMI in its report include Nippon Shokubai Co., Ltd., Evonik Industries AG, BASF SE, LG Chem Ltd. and Sumitomo Seika, San-Dia Polymers, Ltd., and Formosa Plastics Corporation. Nippon Shokubai Co., Ltd. holds the highest share in the global super absorbent polymers market, accounting for nearly 19.8% of global volume in 2014. BASF SE and Evonik Industries are the other leading players, and collectively they represented 36% of global SAP volume in 2014.
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