At 5.8% CAGR, Europe Super Absorbent Polymer Market is Projected to be Worth US$ 2,629.55 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe super absorbent polymer market was valued at US$ 1,672.75 million in 2022 and is projected to reach US$ 2,629.55 million by 2030, recording a CAGR of 5.8% from 2022 to 2030. Strategic development initiatives by key market players and development of bio-based super absorbent polymer are among the critical factors attributed to drive the Europe super absorbent polymer market growth.

Super absorbent polymer manufacturers are investing significantly in strategic development initiatives such as product innovation, mergers & acquisitions, and expansion of their businesses to widen their customer base and enhance their market position. Many key players are exploring non-hygiene applications for super absorbent polymers, such as in agriculture, for improved water retention and crop yields. This diversification mitigates dependence on the saturated hygiene market and unlocks new revenue streams. Research and development are crucial in maintaining a competitive edge, addressing specific customer demands, and opening opportunities for novel applications. In 2021, BASF SE invested ~US$ 27 million for the development of the Super absorbents Excellence Center Belgium. The company aimed to equip the center with data collection and sensor technology to boost the process from product development to commercial scale. The introduction of applied robotics for automated sample testing in its development labs is followed by the implementation of advanced modeling in BASF's digitization roadmap for its super absorbent business. Major manufacturers are adopting acquisition, expansion, and production capacity scaleup strategies to serve their customers better and satisfy their growing demands. Therefore, strategic development initiatives by key market players create lucrative opportunities in the super absorbent polymer market.

On the contrary, volatility in raw materials prices hampers the growth of Europe super absorbent polymer market.

Based on type, the Europe super absorbent polymer market is categorized into polyacrylic acid, polyacrylamide, sodium polyacrylate, potassium polyacrylate, polysaccharides, and others. The sodium polyacrylate segment held 46.1% market share in 2022, amassing US$ 770.89 million. It is projected to garner US$ 1,269.94 million by 2030 to register 6.4% CAGR during 2022-2030.

In terms of category, the Europe super absorbent polymer market is bifurcated into synthetic and biobased. The synthetic segment held 63.3% share of Europe super absorbent polymer market in 2022, amassing US$ 1,058.73 million. It is anticipated to garner US$ 1,632.28 million by 2030 to expand at 5.6% CAGR during 2022-2030.

By application, the Europe super absorbent polymer market is segmented into personal care, agriculture, healthcare, building & construction, and others. The personal care segment held 69.9% share of Europe super absorbent polymer market in 2022, amassing US$ 1,169.37 million. It is projected to garner US$ 1,867.52 million by 2030 to expand at 6.0% CAGR from 2022-2030.

Based on country, the Europe super absorbent polymer market is categorized into Germany, France, the UK, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 31.2% share of Europe super absorbent polymer market in 2022. It was assessed at US$ 521.77 million in 2022 and is likely to hit US$ 781.21 million by 2030, registering a CAGR of 5.2% during 2022-2030.

Key players operating in the Europe super absorbent polymer market are LG Chem, Ltd.; BASF SE; Sumitomo Seika Chemicals Co., Ltd.; Nippon Shokubai Co., Ltd.; Evonik Industries AG; Chase Corp; Songwon Industrial Co Ltd; and Satellite Chemical Co., Ltd. among others.

• In March 2022, Sumitomo Seika made price adjustments to its production of Super Absorbent Polymers due to increased costs for raw materials, auxiliary raw materials, energy, and packaging. The company is committed to maintaining a stable supply of quality products and services, despite internal efforts to minimize the impact of these cost increases. The company remains committed to serving its customers.
  
  

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com