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3. BASF(Germany) and Evonik(Germany) are the leading players in the Super Absorbent Polymers (SAP) Market

Super absorbent polymers play an important role in diapers and hygiene industry as the product manufacturers use super absorbent polymers as the solidification medium in the products. Acrylic Acid is the main raw material for the super absorbent polymer products.

The leading players in the super absorbent polymers market are Nippon Shokubai (Japan), BASF (Germany), Evonik (Germany), Sumitomo (Japan), LG Chem (South Korea), SDP Global (Japan), Formosa (Taiwan), Yixing Danson (China), Satellite Science & Technology Co., Ltd. (China), and Kao Corporation (Japan). These players adopted acquisitions, new product launches, and agreements as the key growth strategies between 2014 and 2019, which helped them increase their capacities and cater to the widening customer base.

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BASF(Germany) is a chemical company that has a strong global presence with 347 production sites in more than 80 countries. The company is focusing on providing sustainable solutions as it believes that sustainability will serve as a start point for new business opportunities, and it is the key to long-term success. Its R&D capabilities are quite unique in the chemical industry, which enables the company to strengthen its position in the industry further. BASF’s super absorbents business is capitalizing its growth by focusing on investment and expansion. In line with the strategy, the company has strategically expanded its manufacturing capabilities and has made an investment in R&D activities. This would enhance the SAP business of the company.

Evonik(Germany) has been focusing on its three strategic focus areas-portfolio, innovation, and corporate culture-to achieve profitable growth and to enhance its competitive position in the global market. The company has approximately 2,780 R&D employees, and it also spent around USD 540 million on R&D activities in 2018. This shows that the company is strongly focusing on R&D activities, which enabled it to offer innovative solutions for the customers. These factors have helped the company witness a high annual revenue growth in the past few years. In the super absorbent polymer business, the company has focused on R&D to develop technologies to meet customer requirements. As a result of these efforts, the company has launched newer products in recent years. The company has also established research centers to enhance its R&D capabilities.

Related Reports:

Super Absorbent Polymers (SAP) Market by Type (Sodium Polyacrylate, Polyacrylate/Polyacrylamide, Copolymers), Application (Personal Hygiene, Agriculture, Medical, Industrial, Packaging, Construction, Oil & Gas), Region - Global Forecast to 2024

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