Driven by Growth in Agriculture Industry Superabsorbent Polymer (SAP) Market will reach US$327.4 mn by 2023: TMR

Albany, NY, March 14, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has published a new report titled “Superabsorbent Polymer Market for Agriculture - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.” According to the report, the global superabsorbent polymer market for agriculture was valued at US$ 184.7 Mn in 2014 and is likely to reach US$ 327.4 Mn in 2023, expanding at a CAGR of 6.8% between 2015 and 2023.

Superabsorbent polymers, commonly referred to as SAP, are commonly used in the manufacture of baby diapers, adult incontinence products, and feminine hygiene products. Besides these applications, superabsorbent polymer is used in agriculture and horticulture. The inherent quality of superabsorbent polymers to absorb and retain water and fluids, several hundred times its own weight, assists in growing crops and plants in dry and arid regions. SAP is used in agriculture, forestry, and gardening as a water-retaining agent in soil. It improves seed germination and increases crop yield. Superabsorbent polymers are usually available in granular, powder, and solid forms.

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Increasing global population and subsequent necessity for food have been primarily driving the superabsorbent polymer market globally. Rapid increase in global population has raised food security concerns. Inadequate arable land has put pressure on farmers to increase yield, which is a tough task owing to lack of modern farming techniques in numerous regions across the world. The water retention property of superabsorbent polymers will help farmers to continue farming in adverse climatic and soil conditions.

In terms of demand, North America, led by the U.S., accounted for the largest share of the global superabsorbent polymer market for agriculture in 2014. Technological advancement and early adoption are key reasons for high demand in the region. Europe also accounted for substantial volume of superabsorbent polymers for agriculture in 2014. France and Germany were primary markets for agricultural SAP in the region. Asia Pacific was the third-largest region in terms of demand for superabsorbent polymers for agriculture in the world. However, the region is estimated to be the fastest-growing region in terms of demand during the forecast period. High population growth in the region, which accounts for approximately 50% of the global population, is estimated to drive the superabsorbent polymer market for agriculture. The year-on-year decrease in arable land per capita coupled with increasing population is expected to positively influence the usage of superabsorbent polymer in the next few years. The water retention property of superabsorbent polymers will help farmers to continue farming in adverse conditions.

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Key manufacturers of superabsorbent polymer for agriculture profiled in the study include LG Chem Ltd., BASF SE, Sumitomo Seika Chemicals Co., Ltd., and Evonik Industries. The market is segmented by demand from individual regions and the main countries in each region.

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The regional segmentation of the report is as follows:

Superabsorbent Polymer Market for Agriculture - Regional Analysis

  • North America
    • US.
    • Rest of North America
  • Europe
    • Germany
    • UK.
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific (APAC)
    • China
    • Japan
    • ASEAN
    • Rest of APAC
  • Latin America (LATAM)
    • Brazil
    • Rest of LATAM
  • Middle East and Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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Source:Transparency Market Research