NEW YORK, Nov. 5, 2020 /PRNewswire/ — The hydrogel market is expected to register a CAGR of over 6.50% during the forecast period. Major factors driving the market studied are the wide range of applications and advantages over conventional products of hydrogel and the growing demand for synthetic hydrogels leading to extensive research. However, the high production cost is expected to hinder the growth of the market studied.
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– By material type, polyacrylate accounted for the largest market share and is expected to grow during the forecast period, owing to the growing hygiene and personal care industries all over the world.
– Increasing expenditure on healthcare and personal hygiene is likely to act as an opportunity in the future.
– North America dominated the market across the world with the largest consumption from the countries, such as the United States and Canada.
Key Market Trends
Personal Care and Hygiene End-user Segment is Expected to Dominate the Market
– Hydrogel, due to its soft and tissue-like physical properties, water absorption, good oxygen permeability, superior biocompatibility, micro-porous structure for additional transport channels, and several other properties, is considered the perfect material to be used in hygiene products.
– The goal for hygiene products is to make thinner pads with higher absorbency under load, increased swelling pressure, and increased suction power. Hence, the use of hydrogel is the most suitable option, owing to its properties.
– Rising hygiene awareness, coupled with growing infant and aging population in emerging economies, and continuous demand for feminine hygiene products are expected to drive the hydrogel market in the hygiene industry.
– Furthermore, the hydrogel is used as a cosmetic product for skincare. The personal care product market is expected to register a growth of more than 3.5% annually, during the forecast period. Skincare accounts for the largest market in the personal care industry.
– All the aformentioned facors are likely to increase the deand for market over the forecast period.
The Asia-Pacific Region is Likely to Dominate the Market in the Future
– The North American region dominated the global market share. However, it is likely for the Asia-Pacific region to register the highest CAGR during the forecast period.
– With growing personal care and hygiene, agriculture, and pharmaceuticals and healthcare sectors in countries, such as China, India, and Japan, the usage of hydrogel is increasing in the region.
– The beauty, personal care, and healthcare sectors are expected to grow at a robust pace in the region during the forecast period, primarily driven by baby and child-specific products, depilatories, oral care, color cosmetics, skin care, and sun care.
– In Asia-Pacific, China provides the major market for the hydrogel consumption. An increasing number of both domestic and international cosmetic players have made significant efforts to set up their online flagship stores in the recent times.
– Some of the brands that established a major customer base through online sale in the country are Sephora, Guerlain, Cle de Peau, and Kose Cosmeport. With these developments, the Chinese hydrogel market is expected to experience robust growth over the forecast period.
– Overall, with the consistent growth in the countries, like China, India, and Japan, the demand for hydrogel is expected to increase at a faster pace in the overall region, in the coming years. The huge growth of Asia-Pacific is quite instrumental in expansion of the hydrogel market.
Competitive Landscape
The hydrogel market is consolidated among the top five players; the top five players accounted for about 46% of the market. The major companies include 3M, Johnson & Johnson Services Inc., ConvaTec Inc., The Cooper Companies Inc., and Sekisui Plastics Co. Ltd, among others.
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– The market estimate (ME) sheet in Excel format
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