The global hydrogel market has a largely concentrated vendor landscape featuring a relatively low number of manufacturers and the top five vendors collectively accounting for a 47% of the overall market in 2016, observes Transparency Market Research (TMR) in a recent report. The hydrogel market is highly dominated by few, large-, medium-, and small-scale companies operating across the world. The high demand for hydrogel across a number of applications has compelled companies to expand their production capacities in order to fulfill the rising demand. Companies are focusing on expanding their global production network by investing in new facilities, acquiring established manufacturing players, and increasing the production capacity of their existing facilities.
Companies are focusing on acquisitions and strategic collaborations to strengthen their footing in the global hydrogel market. Recent instance is the March 2017 acquisition of Jade Therapeutics Inc., a manufacturer of polymerbased products via the cross-linked, bio-erodible hydrogel technology, by Eyegate Pharmaceuticals, Inc., a specialty pharmaceuticals company.
Transparency Market Research estimates that the global hydrogel market will exhibit a 6.3% CAGR from 2017 to 2025, rising from a valuation of US$10,084.9 mn in 2016 to US$17,487.6 mn by 2024.
Sales across Personal Care and Hygiene Products to Account for Massive Chunk in Revenue of Global Market
In terms of application, the global hydrogel market earned a massive chunk in its overall revenue owing to demand from the field of personal care and hygiene, a nearly 60% share of the market’s revenue in 2016. However, the market for hydrogels is projected to gain fewer new growth opportunities in the personal care and hygiene industries owing to saturation. The segment will, nevertheless, continue to contribute the dominant share of revenue to the global hydrogel market over the forecast period as well.
In terms of geography, North America dominated the global hydrogel, accounting for a revenue share of 37.2% in 2016. The strong demand for hydrogel in the region is chiefly attributable to the rising research activities in the medical and pharmaceutical industries. Europe is projected to be the second leading market for hydrogels, offering substantial growth opportunities in the fields of adult continence products and a variety of healthcare products. High level of awareness about quality and sustainable products in Europe also drive the demand for hydrogels. Asia Pacific is likely to offer promising market opportunity for hydrogel during the forecast period.
High Birth Rates and Rising Geriatric Population to Drive Demand
The high demand for hydrogels in the global personal care and hygiene industry is one of the key factors creating substantial growth opportunities for the global hydrogels market. The ability of hydrogels to absorb and retain large volumes of water and aqueous solutions, which is useful in baby diapers and adult incontinence pads, is another key factor indirectly supporting market’s growth; the rising population of geriatrics and escalating birth rates in regions such as Asia Pacific and Middle East and Africa are leading to an excellent rise in demand for baby diapers and adult incontinence pads.
Rising per capita incomes and awareness regarding hygiene in emerging economies such as Asia Pacific is also a key factor fueling the global demand for hydrogels. In addition, the shift in demand from conventional hygiene-related products to environment-friendly ones are other factors creating a positive outlook for hydrogel market.
This review of the global hydrogel market is based on a recent market research report, titled “Hydrogel Market (Structure - Amorphous, Semi-crystalline, Crystalline; Product - Polyacrylate, Polyacrylamide, and Silicone; Application - Personal Care and Hygiene, Pharmaceuticals, Food, Agriculture, and Healthcare) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 - 2025.”
For the study, the market has been segmented as follows:
Hydrogel Market – Structure Analysis
Hydrogel Market – Type Analysis
Hydrogel Market – Application Analysis
- Personal care & Hygiene
Hydrogel Market – Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific (APAC)
- Latin America
- Rest of Latin America (LATAM)
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa (MEA)