ID: MRFR/CnM/4518-CR | July 2018 | Region: Global | 100 pages
Polymer Gel Market is expected to surpass the market value of over USD 55 billion by the year 2024 while registering a CAGR of 6% during the forecast period.
The polymer gels are also known as aerogels where they are used for industrial purposes, due to their unique and discrete properties, they are used in varied industrial end-user industries. The major end-user properties include personal care, medical, oil and gas, and significant others. They are soft polymer networks that are made of long macromolecular chains. The arrangement helps in holding the solvent and thereby gives firmness to the gel. Such factors help in providing the polymer gels characteristics that can be employed in waste management, drug delivery, agriculture, and personal care.
The polymer gels are used in the diapers that help withhold the liquid and they lock the liquid and dry it up and change it into gel form. They are used in female hygiene products and diapers. The other significant end-user application is that they are used in the agricultural sector, where they are used in water conservation. However, the prices of the raw materials and the complex synthesizing processes are expected to hinder the overall growth of the polymer gel industry. The recent advancement in the production industry, new launches, and emerging key market players are presenting lucrative opportunities for the overall growth of the polymer gel industry.
COVID 19 Analysis:
COVID 19 has created severe disruption in the supply and demand criteria. The hydrogels were used in the production of robotics and mechanical arms. The polymer gels are used in construction and space exploration activities. The investments in these industries have been reduced during the pandemic and several market players have reduced to go further in the research activities as well. Moreover bringing in the raw materials from various parts of the world to the manufacturing facility was difficult and it had also suppressed the overall growth of the polymer gel industry.
Moreover, the growth of the electrical and electronic industry was affected in recent times, which also affected the usage of polymer gels and thereby reduced the polymer gel market value.
The increasing utilization of polymer gels in varied applications and end-user industries are considered as the major drivers of polymer gel market growth. Especially the modernization of the agricultural sector and the increasing investments in the medical and healthcare sector are propelling the overall growth of the polymer gel industry.
The electrical and electronic industries are utilized in insulating the wirings and especially in the subsea insulation systems. The bellows, pumps, mechanical clashes, and acoustic insulations are some of the key applications of polymer gels. The effective control of heat loss, efficient performance are some of the factors that are driving the overall growth of the polymer gel industry.
The aerogels are used in the cosmetics and personal care industry and the growth in these end-user industries and the capacity to attract investments from key market players are expected to propel the overall growth of the polymer gel industry during the forecast period.
The increasing utilization of polymer gels in personal care products like diapers and sanitary pads and across the construction, wastewater systems, and drug delivery systems are expected to present a lucrative opportunity for the overall growth of the polymer gel industry. Moreover, the manufacturers are looking for biodegradable products that comply with the regulations imposed by the developing countries. Such factors are expected to boost the overall growth of the polymer gel industry during the forecast period.
The superabsorbent polymer hydrogels are utilized in oil drilling processes, where the drilling liquids are expected to remain in their position. The superabsorbent gels help the drilling fluids to stay in place and prevent spilling. Another side, they are used as fracturing liquids and they increase the viscosity to increase efficiency. Such factors are expected to propel the overall growth of the polymer gel industry during the forecast period.
The volatility of the prices of raw materials that are required for synthesizing the polymer gels is considered as the major restraint of polymer gel market growth.
Some of the hydrogels are used as a drug delivery system, where some of them are considered as non-biocompatible and non-biodegradable. This factor is considered as the major restraint of polymer gel. Since the regulatory bodies demand them to be non-biodegradable.
Some of the key limitation characteristics of the polymer gel, when used as a drug delivery system, are considered as the major challenge for polymer gel market growth. Especially, the drug gets burst rapidly and they release without control. Such characteristics are considered as the major challenge for the overall growth of the polymer gel industry.
The super absorbing polymers are used for industrial applications, where it becomes stiff on absorbing water and the absorbing capacity tends to reduce when the water has dissolved salts in it. Such factors are considered as the major challenges for the polymer gel industry.
Cumulative growth analysis:
The market value of the polymer gel industry was at USD 39 billion in the year 2019 and it is expected to surpass the market value of over USD 55 billion by the year 2024 while registering a CAGR of 6% during the forecast period. The increasing demand for hydrogels in absorption applications, medical applications, and personal care is propelling the overall growth of the polymer gel industry. Soft contact lenses, agricultural applications, and space exploration are primary drivers of the polymer gel industry.
Presently, the eye-care industry and the health care sectors are providing solutions that utilize silicone hydrogels. The key characteristics like oxygen permeability, comfort, longer wear, and significant other features are propelling the health care sector. The increasing applications in the agricultural sector like root dipping, soil broadcasting, flower beds, ornamental gardens were some of the major drivers of the polymer gel industry.
Aerogels possess unique characteristics such as extreme porosity, thermal transfer resistance, extreme energy damping, and effective insulation. The supreme absorption characteristics and the water-repelling characteristics are used in the oil industry.
Value chain analysis:
Polymer gels are applied for several uses and industrial purposes. The diversity of these gels is propelling the demand under varied end-user industries like personal care, medicals, oil and gas, and significant others. The medicines and pharmaceutical industry is driving the polymer gel industry because of the geriatric population across the world. A report from WHO had stated that the geriatric population will increase from 12% to 22% by the year 2050 and the medical facilities will be growing in demand by that time. Therefore the utilization of polymer gels in the pharmaceutical industry will grow at a faster pace. The advent of hybrid hydrogels which include some synthetic materials is gaining momentum. Moreover, the superabsorbent hydrogels were intensively used in the industrial verticals and were holding over 50% market share in the year 2016 and growing ever since.
The manufacturers are engaged in sustainable solutions and the customer preferences are also changing. For instance, one of the leading market players, BASF had introduced the bio-based acrylic acid which is used in the manufacturing of bio-based SAP hydrogels. These were considered as the revolution in the polymer gel industry. The company is continuing in its research activities and the increasing innovations are propelling the overall growth of the polymer gel industry.
Silica is considered as the revolutionary element in the polymer gel industry, they are considered the most efficient and eco-friendly product and they are capable of showcasing higher thermal resistance. NASA had utilized silica aerogels in their exploration projects and they were capable of withstanding extreme temperature on Mars. Therefore the utilization of polymer gels in aerospace and space exploration projects is higher.
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Currently, the Asia-pacific region is expected to have a higher market share with over 40% during the forecast period, due to the presence of several personal care industries. The increasing infrastructural development and the increasing investment in the healthcare sector combined with the sophisticated way of living are considered as the driving factor for the growth of polymer gel in the Asia-pacific region.
The changing attitudes of the customers where the retail and westernization are booming in recent times are considered as the major drivers of polymer gel market growth.
In the year 2020, one of the leading market players, BASF had brought in a new version of polymer gel that is named Luviset 360, which is considered as the new styling polymer and is designed especially for humid regions.
In the year 2020, one of the leading market players, Evonik had stated that they were exploring the characteristics of superabsorbent polymers.
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|Market Size||2030: USD 11,300 Million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Raw Material, Form and End Use Industry|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||BASF SE, LG Chem Ltd., Evonik Industries AG, Nippon Shokubai Co., Ltd., SUMITOMO SEIKA CHEMICALS CO., LTD., Archer Daniels Midland Company, Aspen Aerogels, Inc., Cabot Corporation, Chemtex Speciality Limited, SNF Holding Company, KATECHO, INC., and Aerogel Technologies, LLC|
|Key Market Opportunities||The agricultural sector is expected present application opportunities to polymer gel in the forthcoming years.|
|Key Market Drivers||Increased demand for the product in the cosmetics & personal care industry|
Frequently Asked Questions (FAQ) :
In 2030, the valuation was USD 11,357.2 million.
The polymer gel valuation would be USD 16,312.5 million.
The market value of the polymer gel industry was at USD 39 billion in the year 2019 and it is expected to surpass the market value of over USD 55 billion by the year 2024 while registering a CAGR of 6% during the forecast period.
The valuation would reach USD 7.83 billion.
The amorphous segment would have the upper hand in the market.
• Poly Acrylic Acid • Poly Vinyl Alcohol
Global Polymer Gel Market: Competitive Landscape
Polymer Gel Market to grow surpassed a valuation of USD 11,300 Million. The market is projected to capture a healthy CAGR of 6.55% during the forecast period (2018-2023)
The prominent players operating in the global polymer gel market are BASF SE, LG Chem Ltd., Evonik Industries AG, Nippon Shokubai Co., Ltd., SUMITOMO SEIKA CHEMICALS CO., LTD., Archer Daniels Midland Company, Aspen Aerogels, Inc., Cabot Corporation, Chemtex Speciality Limited, SNF Holding Company, KATECHO, INC., and Aerogel Technologies, LLC among others.
BASF SE, Evonik Industries AG, Archer Daniels Midland Company, Cabot Corporation, Nippon Shokubai Co., Ltd. are collectively holding a significant share of the global polymer gel market. The global polymer gel market is characterized by the healthy competition among these leading market players on account of the vast growth potential. The market is accommodating a substantial number of the established Tier-1 and Tier-2 companies, along with a considerable presence of small and medium scale industries. The key players in this market are adopting collective approaches and business tactics to gain substantial revenue and market share. The major strategic moves by the major industry players are a capacity expansion, product launch, and supply agreements to leverage upon the surging global demand for a polymer gel and exploit maximum revenue.
BASF SE is a Germany based chemical giant, which engages in the production of a range of chemical products and various intermediates solutions. The company operates into the market through the five major business segments: performance products, chemicals, functional materials and solutions, oil & gas, and agricultural solutions. Around 10,000 of the company’s employee engages in R&D activities. The company has production facilities in over 80 countries across the globe.
In November 2014, BASF announced to invest over USD 600 million in upgrading its global production sites and equipping the same with newly developed droplet polymerization capacities. The researchers at this company have been engaged in the development and optimization of the production process for a new product called Saviva. This new polymer with round shaped particles has micro-pores, which enable better liquid distribution mechanism.
Evonik Industries AG operates as a holding company, which engages in the manufacturing of specialty chemical products. Under the performance materials segment, the company produces polymer materials and intermediates mainly for the rubber, plastics, and agriculture industries. The company offers various products under the Super Absorbents (SAP) segment such as CABLOC, FAVOR-PAC, FIRESORB, and FAVOR max. Additionally, they offer hydrogel under a brand name called STOCKOSORB.
Archer-Daniels-Midland Co. is engaged in processing oilseeds, corn, wheat, cocoa and other agricultural commodities. The company helps their customers to achieve their sustainability goals with the bio-based superabsorbent polymers (SAP), designed for disposable personal hygiene applications. The company offers bio-based superabsorbent polymer under their superabsorbent polymer segment. During the years to follow the company is determined to usher on a three-part strategic path to achieve their goals: to enhance their core, to advance readiness, and evolve their operational excellence.
Cabot Corporation is the global chemical company, which engages in the manufacturing of specialty chemicals and performance materials. In 2018, Johns Manville Industrial Insulation Group (IIG), the U.S. based manufacturer of construction materials, and Cabot Corporation entered into a supply agreement. According to the terms of an agreement, IIG would produce and market thin, high-performance insulation in the subsea market using Cabot’s proprietary technology and aerogel products. This strategic agreement is expected to improve the market position of Industrial Insulation Group and help them to expand their market share into the subsea market and provide additional insulation solutions to its oil & gas customers.
Nippon Shokubai Co., Ltd. is one of the leading specialty chemical companies in Japan. The company mainly manufacture and distribute industrial chemicals and catalysts across the globe. Its operations are carried out through three major business segments: basic chemicals, functional chemicals, and environment and catalysts. The company manufactures super-absorbent polymers (SAP) under their functional chemicals segment. It offers super-absorbent polymers under the various brand-AQUALIC CA, ACRYHOPE, and AQUALIC CS. The company has ushered the corporate strategy to uphold their long-standing Group Mission of “TechnoAmenity‘”- which is determined to provide affluence and comfort to people and society with their unique technology.