Superabsorbent Polymers Market: Rising Application in Varied Industries, Besides Demand from Diapers Industry to Boost Growth, TMR
Vendor landscape of the global superabsorbent polymers market is highly consolidated as the top six players accounting for nearly 90% of the overall market in 2013. Among them Bayer AG, Nippon Shokubai Co. Ltd, Formosa Plastics Group, BASF, and Mitsubishi Chemical Holdings Corporation were most notable, finds Transparency Market Research (TMR), in a new study. These companies are focusing on various strategies to gain a stronger foothold in the market. For instance, the leading players are paying attention on diversifying their product portfolio to remain competitive through the forecast period. TMR forecasts the global superabsorbent polymers market to exhibit a CAGR of 5.5% between 2014 and 2020. At this pace, the market will reach US$8.78 bn by the end of 2020, from US$60.06 bn in 2013. Regionally, while North America dominated the market in 2013, Asia Pacific is expected to report the leading CAGR during the aforementioned forecast period. Based on application, the ba...