Superabsorbent Polymer Market for Agriculture - Global Industry Analysis 2023 | Research Report
The
volatility of raw material prices highly impact on the competitive
landscape of the global superabsorbent polymer market. Leading
producers, namely Nippon Shokubai Co. Ltd., Evonik Industries, Sumitomo
Seika Chemicals Co. Ltd., LG Chem Ltd., Songwon Industrial Co. Ltd., and
BASF SE have invested heavily in the production of raw materials used
for these polymers in order to minimize their impact.
This
93 page report gives readers a comprehensive overview of the
Superabsorbent Polymer Market. Browse through to unlock the hidden
opportunities in this market.
Looking
forward, the emergence of bio-based superabsorbent polymers has
presented a lucrative opportunity for the key manufacturers, says
Transparency Market Research. The eco-friendly characteristic of these
polymers is likely to boost its application in a number of industries
such as agriculture, pharmaceuticals, and medical and healthcare,
leading to their increased sales across the world.
Water Retaining Property of Superabsorbent Polymers Boosts their Application in Agriculture
The
alarming rise in the global population has created a huge need for
food. Hi-tech farming methods are yet to reach underdeveloped and
emerging economies and the rapid depletion of arable land has already
put farmers in a tight situation. On the top of it, the increase in
global warming has been affecting the rains severely, causing
draught-like situations in many parts of the world.
“As
superabsorbent polymers, also known as slush powder, can absorb huge
amounts of liquid, particularly water, their application in farming, in
order to retain soil water, is increasing significantly,” says an
analysts at TMR. Their adoption in agriculture has also been fueled by
another significant property of them that is to enable crops to survive
through the depletion of water in mountains, deserts, as well as dry
lands up to 50% of the required amount.
The
application of superabsorbent polymers will remain growing in
agriculture over the next few years, anticipates TMR. The high costs of
raw materials, however, may limit the adoption of these polymers to some
extent in the coming years.
On
the other hand, the advent of bio-based polymers, stimulated by the
increasing focus of consumers on sustainability and their growing
awareness pertaining to environment, is anticipated to provide an
opportunity-rich market for players. Their potential applications in
agriculture, pharmaceuticals, and medical and healthcare are also
expected to boost their demand in the coming years.
North America Emerged as Biggest Consumer of Superabsorbent Polymers Used for Agriculture
According
to TMR, the global opportunity in superabsorbent polymers used for
agriculture is expanding at a healthy CAGR of 6.80% during the period
from 2015 to 2023. In 2014, it stood at US$184.7 mn and is projected to
worth US$327.4 mn by the end of forecast period. In terms of volume, the
application of superabsorbent polymers in agricultural practices is
registering a CAGR of 5.90% over the forecast period.
Get
accurate market forecast and analysis on the Superabsorbent Polymer
Market. Request a sample to stay abreast on the key trends impacting
this market @
Currently,
North America is the leading consumer of superabsorbent polymers used
for agriculture across the world. In 2014, it accounted for a share of
nearly 30% in the global consumption of these polymers.
Comments
Post a Comment