Report : South & Central America Super Absorbent Polymer Market Forecast to 2030 - Regional Analysis - by Type (Polyacrylic acid, Polyacrylamide, Sodium Polyacrylate, Potassium Polyacrylate, Polysaccharides, and Others), Category (Synthetic and Biobased), and Application (Personal Care, Agriculture, Healthcare, Building & Construction, and Others)
At 4.4% CAGR, South & Central America Super Absorbent Polymer Market is Projected to be Worth US$ 356.68 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the South & Central America super absorbent polymer market was valued at US$ 252.26 million in 2022 and is projected to reach US$ 356.68 million by 2030, recording a CAGR of 4.4% from 2022 to 2030. Development of bio-based super absorbent polymer and rising demand for hygiene and incontinence products are among the critical factors attributed to drive the South & Central America super absorbent polymer market growth.
Super absorbent polymers have been used in diapers, personal care products, agriculture, and healthcare. Super absorbent polymers are derived from petroleum-based raw materials, contributing to environmental concerns and a reliance on non-renewable resources. In response to these challenges, researchers and companies are actively exploring and advancing the field of bio-based super absorbent polymers. Bio-based super absorbent polymers are derived from renewable resources such as plant starches, cellulose, or biomass. One promising technology involves the utilization of agricultural by-products or waste materials to create these polymers, reducing the environmental impact associated with their production. This shift toward bio-based alternatives aligns with the global commitment to reducing dependency on fossil fuels and mitigating the ecological footprint of various industries. Scientists are exploring various modification techniques and crosslinking agents to optimize the absorption capacity and gel strength of the bio-based super absorbent polymer. As research progresses and production methods improve, bio-based super absorbent polymers are poised to revolutionize various industries. The development of biodegradable personal care and hygiene products is boosting the demand for bio-based super absorbent polymers. In May 2023, KNH Enterprise developed a recyclable and eco-friendly sanitary napkin made from bamboo fibers. Rising demand for biodegradable products is prompting market players to invest in research related to bio-based materials. Therefore, the development of bio-based super absorbent polymer is expected to drive market growth during the forecast period.
On the contrastingly, volatility in raw materials prices hampers the growth of South & Central America super absorbent polymer market.
Based on type, the South & Central America super absorbent polymer market is categorized into polyacrylic acid, polyacrylamide, sodium polyacrylate, potassium polyacrylate, polysaccharides, and others. The sodium polyacrylate segment held 55.0% market share in 2022, amassing US$ 138.78 million. It is projected to garner US$ 203.76 million by 2030 to register 4.9% CAGR during 2022-2030.
In terms of category, the South & Central America super absorbent polymer market is bifurcated into synthetic and biobased. The synthetic segment held 70.2% share of South & Central America super absorbent polymer market in 2022, amassing US$ 176.98 million. It is anticipated to garner US$ 244.84 million by 2030 to expand at 4.1% CAGR during 2022-2030.
By application, the South & Central America super absorbent polymer market is segmented into personal care, agriculture, healthcare, building & construction, and others. The personal care segment held 77.2% share of South & Central America super absorbent polymer market in 2022, amassing US$ 194.64 million. It is projected to garner US$ 278.80 million by 2030 to expand at 4.6% CAGR from 2022 to 2030.
Based on country, the South & Central America super absorbent polymer market is categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 44.9% share of South & Central America super absorbent polymer market in 2022. It was assessed at US$ 113.18 million in 2022 and is likely to hit US$ 163.59 million by 2030, registering a CAGR of 4.7% during 2022-2030.
Key players operating in the South & Central America super absorbent polymer market are LG Chem, Ltd.; BASF SE; Evonik Industries AG; and Satellite Chemical Co., Ltd. among others.
- In August 2021, LG Chem claimed in South Korea that it had mass-produced the first "Bio-balanced" SAP (Super Absorbent Polymer) in history, which has been certified internationally by International Sustainability & Carbon Certification (ISCC) Plus and has begun exporting its first product. The ISCC, awarded its ISCC Plus accreditation to SAP. Moreover, it is the first instance of the environmentally friendly integrated brand "LETZero," which LG Chem recently introduced, being used. SAP was transferred from the Yeosu Plant to 'Baby Life,' an LG Chem client in Jordan, where it will be utilized for diaper manufacturing and other purposes.
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