Super Absorbent Polymer Market Key Players:
Super Absorbent Polymer Market Players are: NIPPON SHOKUBAI CO. LTD (Japan), SUMITOMO SEIKA CHEMICALS CO. LTD. (Japan), Yixing Danson Technology (China), BASF SE (Germany), Formosa Plastics Corporation (Taiwan), Kao Corporation (Japan), Evonik Industries AG (Germany), LG Chem (South Korea), SONGWON (South Korea), Sanyo Chemical Industries Ltd. (Japan) among others.
Super Absorbent Polymer Market Segmentation Analysis:
Super absorbent polymer market is segmented by type, end-use, and region. By type, the market is divided into sodium polyacrylate, polyacrylamide copolymer, and others. Sodium polyacrylate and polyacrylamide copolymer segments are anticipated to accumulate sufficient revenue by the end of the forecast period.
Major end-use industries include food packaging, building & construction, agriculture, personal care, and others. The agriculture segment is anticipated to generate high demand for quality crops. Awareness among farmers coupled with advances in horticultural practice such as seed coating and root dipping are projected to drive segment growth. Rising population in developing economies can also play a huge role in fueling segment growth.
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Super Absorbent Polymer Market Regional Analysis:
Super absorbent polymer market is categorized into five regions, Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Asia Pacific region is expected to grow with the highest CAGR during the assessment period, (2016 to 2023) owing to expansion of numerous end use industries such as building & construction and agriculture among others.
The demand for super absorbent polymer is expected to surge in the various countries of Asia Pacific such as China, India, Japan, Thailand, South Korea, and Malaysia on account of approval of large scale residential, commercial, as well as industrial construction projects. Moreover, rising number of working professionals along with increasing disposable income in emerging nations is predicted to drive the market growth. Furthermore, ease of availability of raw material, inexpensive labor & land cost, and rising development strategies to fulfil the demand for super absorbent in the rising applications are the important factors for the regional market growth.
Super Absorbent Polymer Market Competitive Scenario:
Key market players include Yixing Danson Technology Co., Ltd.; Nippon Shokubai Co., Ltd.; Formosa Plastics Corporation; Sumitomo Seika Chemicals Company, Ltd.; and Sanyo Chemical Industries, Ltd. Various strategies to differentiate themselves from the competition are investments in production facilities, diversification of products, and streamlining their supply value chain. In May 2017, Sumitomo Seika Chemicals decided to increase its production capacity by establishing a new production facility in South Korea. This move can assist the company in its expansion plans in Asia.
Industry/ Innovation/ Related News:
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 dollars 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.
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.
Super Absorbent Polymer Market Table of Content:
1 Executive Summary
2 Scope of The Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Superabsorbent Polymers Market
Super Absorbent Polymer Market Table of Content to be Continue……,
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