Technology innovation accompanied by increasing demand for more reliable and non-toxic material is anticipated to fuel biodegradable superabsorbent materials market size.
Superabsorbent materials market size was estimated at over USD 5 billion in 2015 and is projected to surpass USD 9 billion by 2023, growing at over 7% CAGR. Increase in disposable income along with rising demand for sustainable and consistent products were among the key factors to drive growth.
Asia Pacific biodegradable superabsorbent materials market size, led by China and India consumer base, was dominant and will witness significant growth owing to large population size and rise in the standard of living. Increase in agriculture sector spending in India coupled with rise in waste management activities is predicted to stimulate demand.
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U.S. biodegradable superabsorbent materials market demand may increase due to expansion in the waste management sector and growing trend for leisure activities such as gardening and golf.
Applications can be categorized into hygiene, medical, agriculture & horticulture, and waste water treatment. Hygiene applications consist of general personal products such as baby diapers, feminine hygiene products, and adult incontinence products.
Germany, UK, and France are anticipated to drive Europe biodegradable superabsorbent materials market size; it is projected to witness notable growth owing to increase in number of hospitals and stringent government regulations pertaining to industrial waste. Hygienic products rising demand coupled with increasing inclination towards more sustainable construction products is projected to positively influence growth.
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Major product benefits include capabilities related to solidify liquid waste, recycling, and environment cleanup. They are water absorbent and are considered to be the most suitable industrial resources owing to their biodegradable nature.
Baby diapers was the largest application segment owing to its properties pertaining to water absorbent capacity and consumer shift towards more sophisticated and healthy lifestyle. Increase in health consciousness among females along with rising awareness towards personal hygiene is among the key factors to propel demand in this segment.
Medical applications include surgical pads and wound care solutions. Effective solutions associated with medical waste and demand for more water resistant bandages and pads will positively influence biodegradable superabsorbent materials market growth.
Agriculture & horticulture applications are related to increase in yield and fertilizer efficiency, promotes growth, and reduces erosion. Rising awareness among farmers due to government initiatives to educate agriculture accompanied by increase in trend for gardening and forestry is predicted to boost demand in this segment.
The industry can be segmented by type into sodium polyacrylate and polyacrylamide copolymer. Sodium polyacrylate, also termed as waterlock, finds application in consumer products.
Biodegradable superabsorbent materials are turn out to be more cost-competitive than petroleum products as they receive immense government support. Moreover, technology improvement in biodegradable resources processing is projected to create viable opportunities. Urgency to manage waste coupled with need to adopt more environmental friendly and ecological manufacturing products were among the key driving factors.
Biodegradable superabsorbent materials market share is dominated by Nippon Shokubai, BASF SE, Evonik Industries AG, LG Chem, SDP Global, Sumitomo Seika Chemicals, and Formosa Plastics. Product portfolio diversification, continuous research & development, technology innovations are among the key growth strategies. These companies are also focusing on mergers & acquisitions, expansions, and new product development in order to enhance their current share.
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