Global polymer gel market is projected to reach around US $8,836 million by the year 2026, according to the latest research available at Market Study Report LLC, that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
The plethora of applications of polymer gel in sectors including personal care, agriculture, construction, pharmaceutical, healthcare, and others, has majorly driven the growth the global polymer gel market. Increasing awareness of personal care and growing disposable income, specifically in the emerging regions, are supporting the expansion of the market worldwide. According to the report, consumers are increasingly using products like cosmetics, contact lenses, and personal care items these days, which is augmenting the polymer gel market share. In addition, technological enhancements, ascending applications in healthcare and pharmaceutical sectors, new emerging markets, and developing consumer demographics are likely to influence market growth during the projected timeframe.
Speaking of the material type gamut, the global polymer gel market is bifurcated into natural, hybrid, and synthetic materials. The polymer gel is based on different compositions such as polyacrylate, polyacrylamide, Si-H (silicone modified hydrogels), and others.
In terms of the application spectrum, the global polymer gel market is segmented into personal care, healthcare, construction, agriculture, and others. Based on the findings of the report, the personal care application segment is anticipated to dominate the global market with respect to revenue, over the forecast timeframe. On account of its significant absorbing properties, polymer gel is extensively used in diapers and female hygiene products. Moreover, the gel is also used in contact lenses and several cosmetic products. Growing disposable income, along with surging awareness about personal hygiene, supplements the global polymer gel market growth, cites the report.
On the basis of regional segmentation, the worldwide polymer gel market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Based on the findings of the report, the Asia Pacific market held the majority share in the polymer gel market during the year 2017 and is poised to lead the worldwide market throughout the predicted period. Over the last few years, a substantial increase in the infant and geriatric population has been recorded, which is said to boost the polymer gel market growth. Amplifying awareness regarding personal care & hygiene, increasing disposable income, as well as surging applications of polymer gel in the pharmaceutical and healthcare sectors augment the regional market growth.
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In Asia Pacific, the demand for polymer gel is considerably high due to its deployment in construction, agriculture, and waste treatment. Also, these gels are increasingly being used in the manufacture of artificial muscles and robotic actuators. The latest study further reveals that the burgeoning need for automation in manufacturing as well as other industries is propelling the development of robotics in the region, which therefore strengthens the polymer gel market. Leading multinational companies are enhancing their presence in several developing APAC nations, including Japan, China, India, Malaysia, and Indonesia, for tapping the growth potential offered by these countries.
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Renowned market contenders enlisted in the report include Chemtex Specialty Limited, Nippon Shokubai Co., SDP Global Co. Ltd., LG Chemicals Ltd., BASF Corporation, FIMA Group Ltd, and Sumitomo Seika Chemicals Co. Ltd. These companies pay importance to business tactics like joining hands with other market leaders to innovate new products and suffice the growing needs of consumers.