 |
| Super Absorbent Polymers (SAP) market |
The global Super Absorbent Polymers (SAP) market is estimated to be valued at US$9,344.2 million in 2023 and is
expected to exhibit a CAGR of 5.8% over
the forecast period 2023-2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Super Absorbent Polymers (SAP) are materials that have the ability to absorb
and retain large amounts of liquid relative to their own mass. These polymers
find extensive applications in the production of hygiene products such as baby
diapers, adult incontinence products, and feminine hygiene products. SAPs offer
advantages such as efficient fluid absorption, reduced leakage, and improved
comfort, which have led to their widespread usage in the hygiene industry. The
growing demand for effective hygiene products is driving the demand for Super
Absorbent Polymers.
Market key trends:
One key trend in the Super
Absorbent Polymers Market Growth is the increasing use of bio-based
SAPs. With the rising importance of sustainable and eco-friendly products,
manufacturers are focusing on developing bio-based SAPs as an alternative to
petroleum-based SAPs. These bio-based SAPs are derived from renewable sources
such as corn starch and sugar beet. They offer similar absorption properties as
petroleum-based SAPs, while also reducing environmental impact. The use of
bio-based SAPs aligns with the growing consumer preference for sustainable and
green products, driving the market towards more environmentally friendly
solutions.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the Super Absorbent
Polymers (SAP) market is low. The market is characterized by high capital
investments and the need for advanced technologies, making it difficult for new
players to enter. Additionally, established players already have strong brand
recognition and customer loyalty, further increasing barriers to entry.
Bargaining power of buyers: The bargaining power of buyers in the SAP market is
moderate. While buyers have the option to switch between suppliers, there are
limited manufacturers in the industry. This gives suppliers some leverage in
negotiations. However, buyers can still exert pressure by demanding competitive
prices and high-quality products.
Bargaining power of suppliers: The bargaining power of suppliers in the SAP
market is moderate to high. SAP manufacturers require raw materials such as
acrylic acid and cross-linking agents, which are provided by a few suppliers.
This gives suppliers some leverage in pricing and terms. However, manufacturers
can mitigate this power by establishing long-term contracts and seeking
alternative suppliers.
Threat of new substitutes: The threat of new substitutes in the SAP market is
low. Super absorbent polymers have unique properties that make them highly
effective in absorbing and retaining liquids. The superior performance of SAPs
compared to traditional absorbent materials such as cotton and paper limits the
possibility of substitution.
Competitive rivalry: The competitive rivalry in the SAP market is high. The
market is consolidated, with a few major players holding significant market
shares. Intense competition exists among these key players, leading to
innovation, research and development, and competitive pricing strategies. This
rivalry is further intensifying as the market continues to grow.
Key Takeaways:
The global Super Absorbent Polymers (SAP) market is expected to witness high
growth, exhibiting a CAGR of 5.8% over
the forecast period (2023-2030). This growth is primarily driven by the
increasing demand for SAPs in various applications, such as hygiene products,
agriculture, and medical devices. The rising awareness of hygiene and
sanitation, especially in developing regions, is also contributing to market
growth.
In terms of regional analysis, Asia Pacific is expected to be the
fastest-growing and dominating region in the SAP market. This can be attributed
to the rapidly expanding population, growing disposable income, and increasing
demand for hygiene products in countries like China, India, and Japan. The
region also has a significant presence of key players, contributing to market
growth.
Key players operating in the SAP market include Nippon Shokubai Co. Ltd.,
Evonik Industries AG, BASF SE, Yixing Danson Technology, Kao Corporation,
Sumitomo Seika Chemicals Co. Ltd., San-Dia Polymers Global Co. Ltd., Sanyo
Chemicals Industries, Formosa Plastics Corporation, and LG Chemicals Ltd. These
players are focusing on product development, strategic partnerships, and
mergers and acquisitions to strengthen their market position and gain a
competitive edge.
In conclusion, the Super Absorbent Polymers (SAP) market is poised for
significant growth over the forecast period. The market is supported by the
increasing demand for SAPs in various applications and the dominance of key
players. The Asia Pacific region is expected to play a crucial role in market
expansion.