The market size for super absorbent polymers was USD 8.2 billion in 2018 and is projected to reach USD 12.9 billion by 2024, at a CAGR of 7.4% between 2019 and 2024.
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Browse 98 market data Tables and 35 Figures spread through 117 Pages and in-depth TOC on “Super Absorbent Polymers (SAP) Market”
Is the development of bio-based super absorbent polymers creating opportunity for market growth?
In the current market scenario, conventional super absorbent polymers used are non-biodegradable and account for a large share of landfills, globally. Hence, investments for the development of super absorbent polymers based on renewable materials are expected to create new avenues for the global market. Such polymers are also a suitable alternative to the petrochemical-based polymers, such as sodium polyacrylate and potassium polyacrylate, which are currently used in the absorbent core of disposable diapers, among other personal hygiene products. For instance, in 2017, Ecovia Renewables Inc. (US) has made research grants for the development of biopolymers materials for use in diapers.
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Are the volatile prices of raw materials posing a challenge to the market growth?
Acrylic acid is the main raw material used for the manufacturing of super absorbent polymers. The prices of acrylic acid have been volatile owing to fluctuations in the crude oil prices as well as the tight supply in the Asian market. Crude oil prices are recovering slowly, which will impact the prices of acrylic acid. China is the world’s largest manufacturer of acrylic acid. Environmental regulations in China have resulted in acrylic acid manufacturing plants to operate at lower rates, thereby narrowing the supply-demand gap. This has impacted the prices of super absorbent polymers as well. Manufacturers such as Nippon Shokubai and Evonik have announced price increases for their super absorbent polymers in recent years. However, the impact is expected to be overcome as new capacity additions are added, which would stabilize the prices in the coming years.
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