Valley Cottage, New York, May 4, 2015 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) announces the release of its latest report titled, "Super Absorbent Polymer (SAP) Market: Global Industry Analysis and Opportunity Assessment 2015 - 2020". According to the report, the global super absorbent polymer market was valued at US$ 7,157.8 Mn in 2014 and is anticipated to reach US$ 9,067.3 Mn by 2020, registering a compound annual growth rate of 3.9% through the forecast period.
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Market Drivers and Restraints
The global super absorbent polymer market is mainly driven by factors such as increasing hygiene awareness and robust demand from the growing diapers industry. Baby diapers contribute the highest in terms of demand and have a major share the global diapers market as compared to the other segments. The rise in birth rate coupled with increasing geriatric and female population is likely to drive the global super absorbent polymer market. However, fluctuations in availability and volatile raw material prices pose a challenge to the global super absorbent polymer market.
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The global super absorbent polymer market is segmented on the basis of product type, application, and geography.
By product type, the global super absorbent polymer market is segmented into sodium polyacrylate, polyacrylamide co-polymer, and others (ethylene-maleic anhydride co-polymer, polyvinyl alcohol co-polymer). Among these, sodium polyacrylate accounted for approximately 63.8% of global volume market share in 2014. Sodium polyacrylate is expected to dominate the global super absorbent polymer market throughout the forecast period and account for 1,857.3 ('000 Tons) in terms of volume by 2020, exhibiting a CAGR of 5.3%. The poly acrylamide co-polymer market accounted for approximately 23.0% of the market volume in 2014 and is expected to increase at a comparatively high CAGR of 5.6%, during the forecast period, owing to its increasing consumption in water treatment, paper-making processes and manufacturing of diapers.
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On the basis of application, the global super absorbent polymer market is segmented as: disposable diapers, adult incontinence products, feminine hygiene products and others (polymer used in agriculture, construction, medical industries). Among the aforementioned segments, disposable diapers is expected to dominate the global super absorbent polymer market with over 74% market revenue share throughout the forecast period. The scope of applications for SAP in others segment is expected to continue to expand over the next five years, due to further development and enhanced capabilities of super absorbent polymer. Therefore, demand for SAP in non-hygienic application is anticipated to grow at a comparatively high CARG during the forecast period.
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Region-wise, Europe dominated the global super absorbent polymer market and accounted for US$ 2,009.6 Mn in 2014, closely followed by Asia Pacific and North America. However, Middle East & Africa and Japan registered high CAGRs of 6.3% and 5.2%, respectively.
Key players in the global super absorbent polymer market include Nippon Shokubai Co. Ltd., Evonik Industries AG, BASF SE, Sumitomo Seika Chemicals Co. Ltd., San-Dia Polymers, LG Chemicals and Formosa Plastics Corporation.
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Source: Future Market Insights