India Superabsorbent Polymer Market Size Booming at Significant CAGRs to Surpass USD 890.1 Million and 61,200 Tons by 2030
Published | 02 May 2024
India Superabsorbent Polymer Market is flourishing due to the growing demand for personal hygiene products, expansion of agriculture applications, and rising awareness of eco-friendly hygiene products.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the India Superabsorbent Polymer Market size by value at USD 673.11 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Superabsorbent Polymer Market size to expand at a CAGR of 7.23% reaching a value of USD 890.16 million by 2030. The Superabsorbent Polymer market in India is propelled by the increasing demand for eco-friendly hygiene products. The versatile applications of superabsorbent polymers, including agriculture, packaging, and medical sectors, are fueled by heightened awareness about their exceptional water-absorbing properties. Also, the market sees a surge in demand for adult incontinence products due to advancing health standards and urbanization, along with growing awareness of urinary incontinence treatments. Concerns over traditional female hygiene products leading to health issues prompt a shift towards sanitary pads and tampons, leveraging the high fluid absorption capability of superabsorbent polymers. This trend is expected to significantly boost the market for superabsorbent polymers in India, particularly in the female hygiene products segment.
By volume, BlueWeave estimated the India Superabsorbent Polymer Market size at 50.8 thousand tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the India Superabsorbent Polymer Market size by volume is projected to grow at a CAGR of 7.01% reaching the volume of 61.2 thousand tons by 2030. Concerns over traditional female hygiene products leading to health issues prompt a shift towards sanitary pads and tampons, leveraging the high fluid absorption capability of superabsorbent polymers. This trend is expected to significantly boost the market for superabsorbent polymers in India, particularly in the female hygiene products segment.
Opportunity - Innovations in biodegradable superabsorbent polymers
In the current market, traditional superabsorbent polymers pose environmental challenges due to their non-biodegradable nature, contributing significantly to global landfill waste. As a result, there is growing interest and investment in developing superabsorbent polymers sourced from renewable materials. These eco-friendly alternatives offer promising market opportunities worldwide, providing substitutes for petrochemical-based polymers like sodium polyacrylate and potassium polyacrylate commonly found in disposable diapers and personal hygiene products. This shift towards renewable sources aligns with sustainability goals and addresses concerns about environmental impact.
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Impact of Escalating Geopolitical Tensions on India Superabsorbent Polymer Market
Geopolitical tensions can have a multifaceted impact on the India Superabsorbent Polymer Market. Uncertainty stemming from political instability or conflicts can disrupt supply chains, affecting the availability of raw materials and increasing production costs. Moreover, heightened tensions may lead to trade barriers or sanctions, further complicating market dynamics. Investor confidence may wane in such environments, dampening market growth and potentially deterring foreign investment. Additionally, geopolitical risks can contribute to currency fluctuations and economic volatility, influencing consumer spending patterns. To mitigate these impacts, market players may need to adopt flexible strategies, diversify supply sources, and closely monitor geopolitical developments to adapt promptly to changing conditions.
India Superabsorbent Polymer Market
Segmental Coverage
India Superabsorbent Polymer Market – By Raw Material
By raw material, the India Superabsorbent Polymer Market is divided into Sodium Polyacrylate, Potassium Polyacrylate, Polyacrylamide Copolymer, Ethylene Maleic Anhydride Copolymer, and Polysaccharides segments. The sodium polyacrylate segment holds the highest share in the India Superabsorbent Polymer Market by raw material. Sodium polyacrylates, serving as super-absorbent polymers, find versatile applications across various industries such as sanitation, consumer goods, electrical & electronics, building & construction, and industrial sectors. They function as binding agents, emulsion stabilizers, coatings, viscosity controllers, and film formers. With a growing emphasis on technological advancements and innovations, opportunities abound for manufacturers to diversify and enhance their sodium polyacrylate product offerings, thereby expanding their market presence and meeting evolving industry demands.
India Superabsorbent Polymer Market – By Region
Geographically, the India Superabsorbent Polymer Market is divided into North India, South India, East India, and West India regions. The West India region holds the highest share in the India Superabsorbent Polymer Market. Personal hygiene products and baby diapers play a central role in driving market growth nationwide. Currently, India lacks domestic production of Super Absorbent Polymer (SAP), relying entirely on imports to meet demand. SAP, primarily derived from acrylic acid, is set to witness domestic production with BPCL's initiative to commission a 50 KTPA plant at Kochi refinery. Expected to be operational by FY2026, this move marks a significant step towards domestic SAP production, potentially reducing dependency on imports and bolstering the nation's self-sufficiency in meeting market demands.
Competitive Landscape
The India Superabsorbent Polymer Market is fragmented, with numerous players serving the market. The key players dominating the India Superabsorbent Polymer Market include LG Chem, BASF India, Sumitomo Seika Chemicals, Yixing Danson Technology, Nippon Shokubai, Evonik Industries, SAPCO (Super Absorbent Polymer Corporation), Sanyo Chemical Industries, Aicello, Formosa Plastics Corporation, Kao Corporation, SDP Global Co., Ltd, Quanzhou BLD Science Technology Co., Ltd, Sinopec, and ExxonMobil Chemical. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and the India Superabsorbent Polymer Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the India Superabsorbent Polymer Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
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