The polymer gel market is likely to expand with a 6.55% CAGR during the assessment period (2018-2027).
The three dimensional cross-linked polymer network structure of polymer gels that can also undergo significant deformation is one of the main characteristics driving the growth of the polymer gel market globally. The combination of their distinctive physiochemical properties along with the display of a range of stimuli-responsive actions to external environmental changes has added to a great extent to the development of the market in the past few years.
Competitive Analysis
The market includes a substantial number of the well-known Tier-1 and Tier-2 companies, along with a considerable incidence of small and medium scale industries. The vital companies in this market are implementing collective approaches and business tactics to increase a significant revenue and market share. LG Chem Ltd., Evonik Industries AG, BASF SE, Nippon Shokubai Co., Ltd., Sumitomo Seika Chemicals Co., Ltd., Aspen Aerogels, Inc., Archer Daniels Midland Company, SNF Holding Company, KATECHO, INC., Cabot Corporation, Chemtex Speciality Limited, and Aerogel Technologies, LLC among others are a few of the important players functioning in the polymer gel market.
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The wide-range of applications of polymer gels include several end-use industries such as personal care, robotics, pharmaceuticals, paints coatings, food, and healthcare. The rising levels of health consciousness among the masses coupled with the emergence of complex diseases and infection based disorders has fast tracked the demand for polymer gel in the production of personal care and hygiene products. The applications commonly observed in the healthcare domain are sanitary pads, diapers, wet wipes, burn treatment, bandages, and face masks among others. The application scope for polymer gel covers an extensive range of products in the personal care industry as well. This demand in the personal care industry is inspired by the increasing focus on personal well-being and maintenance of a trendy lifestyle. As a result of these factors, the cosmetics industry has emerged as one of the foremost consumers in the polymer gel market. Moreover, an extensive level of investment by the governments is likely to offer a lucrative opportunity for the personal care product manufacturers globally to launch their facilities in this market.
The key strategic moves being initiated by the noteworthy industry players include product launches, capacity expansions, and supply agreements that are being leveraged upon to expand the market share in the forecast period dramatically. Additionally, advantageous foreign direct investment (FDI) policies offered by the emerging economies for this market are among one of the significant drivers of the market.
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Segmental Analysis
The segmentation of the polymer gel market is carried out on the basis of type, raw material, form and end use industry. On the basis of raw material, the market is segmented into Poly Vinyl Alcohol (PVA), Poly Acrylic Acid (PAA), Poly Acrylonitrile (PAN) and Silicon. The Poly Acrylic Acid (PAA) is responsible for the major share of the market in 2017 and is estimated to reach USD 7,833.3 million. By Type, the market is segmented into Hydrogel and Aerogel. The hydrogel segment controlled the market in 2017. Nevertheless the aerogel is projected to expand at a high CAGR of 8.69 percent in the forecast period. The end-use industry comprises of healthcare, oil gas, building construction, cosmetics personal care, agriculture, water treatment and electrical electronics. The cosmetics personal care is controlling the market is expected to achieve the value mark of USD 4,785.2 million till 2027. The form based segmentation of the market consist of semi-crystalline, particle, amorphous, blanket, and monolith. The semi-crystalline form is expected to grow at a maximum CAGR of 7.26 percent by 2027.
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