LONDON, Dec. 6, 2016 /PRNewswire/ -- The global biodegradable superabsorbent material market is expected to reach USD 190 million by 2024, according to a new report by Grand View Research, Inc. Significant usage of bio-based, high-performance absorption polymers in adult incontinence products, disposable diapers, and agriculture applications is likely to boost the industry growth over the forecast period. Furthermore, feminine hygiene sector is anticipated to provide unique opportunities for these environment-friendly polymers over the next few years.
The demand for biodegradable superabsorbent polymers was 42 kilo tons in 2015 and is projected to witness robust growth in numerous applications owing to its superior absorption rate, biodegradability, and biocompatibility with the human skin. In addition, companies are focusing on innovation to develop water retaining polymeric compounds in agricultural applications as well. Companies such as Exotech Bio Solutions Ltd. and Itaconix Corporation manufacture eco-friendly superabsorbent polymers targeting personal hygiene, infant care, and agriculture industries.
Further key findings from the report suggest:
Disposable diapers segment is expected to foresee revenue growth at a CAGR of 5.4% from 2016 to 2024. The high birth rate in developing economies such as China, India, and Brazil are estimated to fuel the rapid development of the baby diapers sector. This, in turn, is projected to positively affect the consumption of bio-based polymers in this industry in the future.
Adult incontinence products generated revenue worth USD 21 million in 2015. The rising geriatric population across the globe is anticipated to impact the overall demand in the future. Furthermore, this population group is susceptible to various disorders such as urine incontinence and glandular diseases, which is another important health factor supporting the requirements for highly absorbing materials.
Biodegradable superabsorbent materials find applications in the agricultural industry. Their water retention and water absorbing properties make them perfectly suitable for agricultural applications, particularly in water scarce regions. These super absorbent polymers increase crop yield and water use efficiency. The segment is expected to witness revenue growth at a CAGR of 9% over the forecast period.
Asia Pacific generated significant demand worth 12.8 kilo tons in 2015 and is anticipated to witness substantial gains over the forecast period on account of the broad consumer base and rapid increase in the disposable income of consumers. This scenario is likely to be reflected in China, India, and ASEAN countries by 2024.
TryEco LLC, Exotech Bio Solutions Ltd., Archer Daniels Midland Company, Amereq Inc., and Itaconix Corporations are some of the key players operating in the global biodegradable superabsorbent material market.
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