Latin America Super Absorbent Polymer Market Size & Outlook
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Latin America super absorbent polymer market highlights
- The Latin America super absorbent polymer market generated a revenue of USD 1,115.6 million in 2023.
- The market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, sodium polyacrylate was the largest revenue generating type in 2023.
- Sodium Polyacrylate is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 1,115.6 million |
| Market revenue in 2030 | USD 1,642.5 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Sodium polyacrylate |
| Fastest growing segment | Sodium Polyacrylate |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Sodium Polyacrylate, Polyacrylate/Polyacrylamide |
| Key market players worldwide | Basf SE, LG Chem, Formosa Plastics Group, Sanyo, Evonik Industries AG, Kao Corp, Nippon Shokubai Co Ltd, Sumitomo Corp |
Other key industry trends
- In terms of revenue, Latin America region accounted for 11.3% of the global super absorbent polymer market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,200.4 million by 2030.
Sodium polyacrylate was the largest segment with a revenue share of 85.45% in 2023. Horizon Databook has segmented the Latin America super absorbent polymer market based on sodium polyacrylate, polyacrylate/polyacrylamide covering the revenue growth of each sub-segment from 2018 to 2030.
In Central & South America, healthcare spending is expected to rise gradually in the coming years. Several initiatives are being undertaken by the governments in the region to improve public healthcare systems amid budget constraints. This is expected to drive the Super Absorbent Polymer Market over the forecast period.
According to the Director of the International Organization for Migration (IOM) for South America, Central & South America was one of the most affected regions due to the COVID-19 pandemic, after Europe and North America. Central & South America hosted about 10 million migrants during the increasing risk of coronavirus, boosting the need for medical appliances in the region.
The rise in Omicron variant coronavirus-positive cases in Brazil, Argentina, Chile, Colombia, and others has propelled the demand for Super Absorbent Polymer components such as masks, bioreactor bags, shoe covers, gloves, and containers in the region. This, in turn, is positively influencing the demand for super absorbent polymer in the application segment.
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Super Absorbent Polymer Market Scope
Super Absorbent Polymer Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Nippon Shokubai Co Ltd | View profile | 4574 | 4-1-1, Koraibashi, Kogin Building, Chuo-ku, Osaka, Japan | http://www.shokubai.co.jp |
| Sanyo | View profile | 10001+ | San Diego, California, United States, North America | http://www.sanyo.com |
| Formosa Plastics Group | View profile | 1001-5000 | Taipei, T'ai-pei, Taiwan, Asia | https://www.fpg.com.tw/ |
| Kao Corp | View profile | 42450 | 14-10, Nihonbashi Kayabacho 1-chome, Chuo-ku, Tokyo, Japan, 103-8210 | http://www.kao.com |
| LG Chem | View profile | 10001+ | Seoul, Seoul-t'ukpyolsi, South Korea, Asia | https://www.lgchem.com |
| Sumitomo Corp | View profile | 108457 | 3-2 Otemachi 2-Chome, Chiyoda-ku, Tokyo, Japan, 100-8601 | http://www.sumitomocorp.co.jp |
| Evonik Industries AG | View profile | 33409 | Rellinghauser Strasse 1-11, Essen, NW, Germany, 45128 | https://www.evonik.com |
| Basf SE | View profile | 111855 | Carl-Bosch-Strasse 38, Ludwigshafen am Rhein, Germany, 67056 | https://www.basf.com |
Latin America super absorbent polymer market size, by country, 2018-2030 (US$M)
Latin America Super Absorbent Polymer Market Outlook Share, 2023 & 2030 (US$M)
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