Albany, New York, Nov. 13, 2017 (GLOBE NEWSWIRE) — The global hydrogel market is highly consolidated with the top five players accounting for 47% of the total market in 2016. According to a recently published research report by Transparency Market Research (TMR), the growing demand for hydrogel across various applications has compelled players to increase their manufacturing capacities. To fulfill this goal, companies are increasingly converging and expanding their manufacturing and distribution networks across the world by extensively investing in new facilities. They are achieving this expansion process by participating in mergers and acquisitions, collaborations, and partnerships. A case in point would be Eyegate Pharmaceuticals, Inc. which is a pharmaceutical company that has acquired Jade Therapeutic, Inc., a company that manufactures polymer based products.
According to the report by TMR, the global hydrogel market is expected to rise from US$10,084.9 mn in 2016 to US$17,487.6 mn by the end of 2024, expanding at a 6.3% CAGR between 2017 and 2025. On the basis of application, the personal care and hygiene products segment accounted for 60% of the total market revenue in 2016. However, the market for personal care and hygiene products has reached a saturation point in developed nations resulting in less growth opportunities in this segment. Nevertheless, the segment will continue to lead in the market throughout the forecast period. On the basis of geography, North America held the leading shares in terms of value in 2016 by accounting for 37.2% of the total market. The increased investments in research activities in the medical and pharmaceutical sector are expected to drive the growth of the hydrogel market in North America.
Use in Baby Diapers and Female Hygiene Products Driving Growth
Hydrogels are non-toxic with high absorption capabilities, retaining substantial volumes of fluids and aqueous solutions. Therefore hydrogel is extensively used in products such as baby diapers and adult incontinence pads which is boosting the growth of this market. The growing geriatric population and increasing birth rate across the globe is supporting the growth of the hydrogel market. One of the most established markets for hydrogel is the personal care and hygiene industry which will also propel the growth of the market. Emerging economies are witnessing an increase in the rise of awareness regarding hygiene and also the spending capability of consumers has increased, which will also help boost the demand for hydrogels.
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Use in Food Packaging Products and for Water Purification to Spur Growth
One of the key trends in the global hydrogel market is the shift from conventional hygiene related products to eco friendly products. This will create growth opportunities in the market. Hydrogel is derived from sodium polyacrylate and is commonly used in sanitary napkins, feminine hygiene products, baby diapers, and paper towels. The growing expenditure on these products is showing a remarkable increase in the past few years especially from emerging economies such as Latin America and Asia Pacific. Polyacrylamide hydrogels are also being used extensively for food packaging products, tissue engineering, wrinkle filling, drug treatment, ophthalmic operations, personal products, and water purification. The growth in the aforementioned industries will directly boost the demand for hydrogels.
Key segments of the Global Hydrogel Market
Hydrogel Market – Structure Analysis
Hydrogel Market – Type Analysis
Hydrogel Market – Application Analysis
- Personal care & Hygiene
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