Industry/ Innovation/ Related News:
30 May, 2017- Sumitomo Seika Chemicals co, Ltd, has decided to expand their super absorbent polymer production facilities in South Korea. They invested around 8 billion yen to increase their production capacity form 59000 ton per year to a total of 118000 tons a year. This expansion is expected to stable the supply of super absorbent polymer in Asia Pacific thereby adding to the market growth.
26 December, 2017- LG chem Ltd, is expected to increase their production capacity of acrylic acid and super absorbent polymer by the end of 2019. They South Korean company invested 300 billion dollar for the same. The production expansion is expected to increase the yield of super absorbent polymer form 100000 tons per year to 500000 tons per year. This expansion is anticipated to further surge the market of super absorbent polymers in the Asia Pacific region.
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Super absorbent polymer Market- Competitive Landscape:
The Global Super Absorbent Polymer Market is a highly lucrative market driven by flourishing demand for contruction, healthcare products along with the increasing use in the agricultural sector. NIPPON SHOKUBAI CO., LTD (Japan), SUMITOMO SEIKA CHEMICALS CO., LTD. (Japan), Yixing Danson Technology (China), BASF SE (Germany) among others are some of the major players operating in this market. Most of these market participants are adopting the expansion and product launch tactics to strengthen their production capacities and market position. Taking account of these trends, the Global Super Absorbent Polymer Market is projected to witness considerable competition over the forecast period of 2017-2021.
Asia pacific is expected to be the fastest growing region during the forecast years. The growing population in the developing countries especially India and china has augmented the demand for personal care which is a major factor driving the market in the region. Moreover, the presence of agrarian economies such as India and China has further added to the market demand owing to the growing use of Super Absorbent Polymer as seed coating material, root dipping and excellent water conservation technique among others.
Super Absorbent Polymer Market – Market Overview:
Super Absorbent Polymers are a special type of polymer that has the ability to retain and absorb water and other aqueous solutions. The absorbency of Super Absorbent Polymer (SAP) depends on the cross-linkers used in the manufacturing of the gel. Low density cross linked super absorbent polymers has more absorbent capacity. The excellent absorbing qualities of finds its way into many end user industries such as personal care, building and construction, food packaging and others. The growing construction in the developing region throughout the globe coupled with the increasing demand from the agricultural sector are the major driver contributing to the market growth. The Global Super Absorbent Polymer Market can be segmented on the basis of type and end-user industry. Among the end user industry personal care is expected to be the dominant segment. The growing demand for Super Absorbent Polymers in diapers, female hygiene products, adult incontinence products and similar application are significantly contributing to the growth of the segment. In addition to the, agriculture is expected to be the fastest growing segment during the forecast years.
According to the analysis of MRFR, the major market forces and trends driving growth of the GLOBAL SUPER ABSORBENT POLYMER MARKEt includes growing demand from agriculture and personal care industry. Moreover, the growing population in the developing nations has augmented the demand for agricultural produce which in turn is expected to positively affect the market owing to its extensive use as water conservation technique throughout the globe.
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