Top Market Leaders - Super Absorbent Polymers Market
The global super absorbent polymers industry is rapidly evolving market. The current scenario in the global super absorbent polymers market is dominated by number of major players that include BASF SE, Nippon Shokubai Co. Ltd., Evonik Industries AG, SDP Global Co. Ltd., LG Chem Ltd., Sumitomo Seika Chemicals Co. Ltd., Formosa Plastics Co., and so on. Most of these companies are leaders in the production of acrylic acid which is the main raw material for super absorbent polymers. These companies are focused on investment to establish new production facilities and capacity expansion of super absorbent polymers to achieve economies of scale, product innovation, and expansion in order to capture and improve market share.
Market players are concentrating on increasing their production capacities, with expectation of a surge in super absorbent polymers demand from the industry; especially, from Asia-Pacific, Middle East, Africa, and Latin America. Companies are focusing their investments to set up new facilities mainly in emerging regions and increasing global presence to address the growing demand in emerging markets.
In the recent past, expansions have dominated the strategies adopted by super absorbent polymers players globally. The major market players have invested large amounts in emerging countries to enter and enhance their market position through capacity expansion and new plant establishment. For instance, LG Chem Ltd. (Korea) to invest $304 million to expand its plants for crude acrylic acid and SAP by September 2015. The expansion will increase the capacity to 360 KT/year.
Further, the leading market players invested in their R&D facilities to develop new products to meet their customers’ needs. The fruit of their intensive R&D over the years is bio-based SAP and bio-based acrylic acid. It is an essential step towards sustainable development by the companies. In order to meet these demands, the market players such as BASF SE (Germany), Archer Daniels Midland Company (U.S.) are ready to start the production by the mid of 2014. The bio-based SAP will help the companies to increase their market share in global super absorbent polymers market.
The market leaders have adopted different strategies for the developed and developing countries. In developed countries, the demand for adult diapers continues to grow; whereas, in developing countries the baby diapers are being the key driver for growth of SAP market. The strategy of the market players is focused on developing technology, expanding production capacities and investing in new emerging geographies.
Related Report:
Super Absorbent Polymers Market by Type (Sodium Polyacrylate, Polyacrylate/Polyacrylamide Copolymer, & Others) & by Application (Baby Diapers, Adult Diapers, Women Sanitary Napkins, Agriculture, & Others) - Global Trends & Forecast to 2019
https://www.marketsandmarkets.com/Market-Reports/super-absorbent-market-177336849.html
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