Nippon Shokubai (Japan) and BASF SE (Germany) are Leadig Players in the Super Absorbent Polymers (SAP) Market
The global super absorbent polymers market size is projected to reach USD 13.1 billion by 2026 at a CAGR of 5.9% from 2021. The growing population, increasing demand for fluffless personal hygiene products, focus on effective irrigation management, and adoption of eco-friendly products act as drivers for the growth of the SAP market.
The increase in demand for super absorbent polymers and the growing industrial development in the emerging economies, such as APAC and Europe, are driving the market. The key players in the super absorbent polymers market includes 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 market leaders have adopted various organic as well as inorganic growth strategies between January 2015 and April 2021 to strengthen their position in the super absorbent polymers market. The strategy of investment & expansions was among the major growth strategies adopted by the leading market players to enhance their regional presence and meet the growing demand for super absorbent polymers in emerging economies
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Nippon Shokubai (Japan) is one of the leading manufacturers and distributors of super absorbent polymers. The company adopted new product development, acquisitions, and investments & expansions as its key business strategies. For instance, in November 2020, Nippon Shokubai, LiveDo Corporation (Japan), and Total Care System (Japan) jointly developed various technologies to promote systems that recycle disposable diapers, the use of which continues to increase. These three companies have recently developed new recycling technologies for super absorbent polymers in used diapers. The technology can be applied to a wide variety of super absorbent polymers distributed worldwide. This has enhanced it Nippon Shokubai’s position in the SAP market.
BASF SE (Germany) is one of the largest chemical producers globally. The company is among the key players in the super absorbent polymers market. The company adopted the investments & expansions as its key strategy to strengthen its competitiveness in the global super absorbent polymers market. For instance, in March 2021, BASF invested USD 30.1 million in new excellence center for its hygiene business. With this investments, BASF will increase innovation capabilities for its super absorbent polymer business by building a state-of-the-art Super absorbents Excellence Center at its Verbund site in Antwerp, Belgium.
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 2026
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