Global super absorbent polymer market estimated to be US$7.96 bln by 2020

The global market for super absorbent polymers is projected to be worth US$7.96 bln by 2020, registering a CAGR of 7.6% between 2015 and 2020, as per MarketsandMarkets. This growth will be fueled by the high demand from Asia-Pacific, the Middle East & Africa, and Latin America and the ageing population in developed countries and the thinner diapers. Personal care is a major application for the SAP market. Super Absorbent Polymers (SAPs) are primarily used as an absorbent for water and aqueous solutions in diapers, adult incontinence products, feminine hygiene products, and similar applications. The market for diaper is the largest application for super absorbent polymers and hence driving the demand for polymer in the recent years. The agricultural industry is the fastest-growing market for SAP The use of super absorbent polymers (SAP) is an established water conservation technique in agriculture and is widely used in different parts of the world. The growing population and increased demand for food in developing nations are the key factors driving the demand for the SAP market in agriculture application. The important application areas of agricultural SAP can broadly be categorized into gardening, horticulture, forestry, lawns, play grounds, and golf-course. The U.S. and China accounted for more than 40% of the SAP market in terms of value in 2014. China is the biggest market in the Asia-Pacific region and the U.S. is the largest end user and producer of super absorbent polymermarket in the North American region. The U.S. and China are the largest consumers in their respective regions, and are expected to compete with each other to dominate the market by 2020, with advanced SAP materials for end users. In 2014, Asia-Pacific was estimated as the largest market for SAP with the largest share of the overall SAP market in terms of value.North America and Europe, together accounted for more than 40% of the global SAP market in terms of value in 2014. The SAP market in these regions is projected to increase substantially between 2015 and 2020, as the acceptance for these polymers is increasing in these regions. Major players such as BASF SE, Nippon Shokubai Co. Ltd., and Evonik Industries AG., have adopted development strategies such as expansions, acquisitions, and product developments to achieve growth in the global SAP market. This report includes the analysis of the market by value and volume for SAP and forecast for the market size till 2020. The report includes the market segmentation by type, application, and region. It also provides company profiles and competitive strategies adopted by the major market players in the global SAP market.