South Korea Super Absorbent Polymer Market Size & Outlook
Related Markets
South Korea super absorbent polymer market highlights
- The South Korea super absorbent polymer market generated a revenue of USD 269.8 million in 2023 and is expected to reach USD 419.4 million by 2030.
- The South Korea market is expected to grow at a CAGR of 6.5% 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.
Super absorbent polymer market data book summary
| Market revenue in 2023 | USD 269.8 million |
| Market revenue in 2030 | USD 419.4 million |
| Growth rate | 6.5% (CAGR from 2023 to 2030) |
| Largest segment | Sodium polyacrylate |
| Fastest growing segment | Sodium Polyacrylate |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, South Korea accounted for 2.7% of the global super absorbent polymer market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China super absorbent polymer market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,406.1 million by 2030.
Sodium polyacrylate was the largest segment with a revenue share of 82.99% in 2023. Horizon Databook has segmented the South Korea super absorbent polymer market based on sodium polyacrylate, polyacrylate/polyacrylamide covering the revenue growth of each sub-segment from 2018 to 2030.
The growing product demand from food packaging and consumer goods end-use industries is significantly contributing to the growth of the super absorbent polymer market in France. Rising awareness regarding sustainable packaging coupled with growing environmental concerns about increasing greenhouse gas emissions is further contributing toward the adoption of super absorbent polymer based products.
The packaging application segment is likely to advance at the fastest CAGR owing to the increasing utilization of super absorbent polymer in the packaging of food and cosmetic products. Furthermore, rising R&D activities by the key players to reduce the utilization of conventional plastics for packaging are likely to boost product demand over the forecast period.
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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 |
South Korea super absorbent polymer market size, by type, 2018-2030 (US$M)
South Korea Super Absorbent Polymer Market Outlook Share, 2023 & 2030 (US$M)
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