For the Quarter Ending March 2025
North America
In Q1 2025, the Super Absorbent Polymer (SAP) market in the United States faced a bearish trend, driven by weak domestic demand, increased competition from low-cost imports, and rising inflation. The combination of economic pressures, icy weather disruptions, and subdued activity in key sectors like hygiene and agriculture compounded the challenges for local manufacturers.
During January, icy weather impacted production activities at domestic facilities, while cheap imports from Asia-Pacific (APAC) countries flooded the market. The availability of these imports, facilitated by declining freight rates (down by 5% week-on-week early in January), led to heightened inventory levels and increased competitive pressure on domestic producers. The headline Consumer Price Index (CPI) rose by 0.5% month-over-month, reflecting inflationary challenges that further suppressed consumer spending in SAP-dependent sectors.
In February, the market continued its downward trajectory as freight rates from APAC to the U.S. West Coast dropped by 9.23%, reducing import costs and amplifying the influx of cheaper cargoes. SAP prices declined further, reflecting oversupply and moderate downstream demand. The hygiene sector, a primary SAP consumer, showed steady but unremarkable activity, failing to counterbalance the market's oversupply.
By March, SAP prices remained under pressure, with local manufacturers scaling back operations to mitigate losses. Despite steady availability, sluggish demand and competitive pricing have maintained a challenging market environment.
APAC
In Q1 2025, the APAC superabsorbent polymer market exhibited cautious recovery amid subdued manufacturing activity and fluctuating demand. Supply chains faced persistent input cost inflation and logistical delays, prompting firms to adopt inventory reduction strategies and cautious stock management. Demand showed modest improvement driven by restocking efforts and steady consumption in hygiene and agricultural sectors, although export markets remained uneven. Overall, market sentiment remained fragile with balanced supply-demand dynamics and incremental growth prospects as the quarter progressed. In Indian, Superabsorbent Polymer (SAP) market experiences a heavy downfall recording a 13.12% decline in first quarter 2025. The abundant supply and excess inventory played a vital role in the sharp drop. Additionally, imports were affected falling by 3.98%, as the domestic market struggled to absorb existing stock.
South Korea's SAP prices increased marginally by 0.23% from Q4 2024 to Q1 2025, averaging USD 1293/MT. The intra-quarter price trend was relatively flat, reflecting cautious buying amid subdued manufacturing and inventory drawdowns. Price resilience was supported by rising input costs and selective demand recovery, despite fragile export conditions. The market outlook remains stable with anticipated steady demand and moderate price growth driven by restocking and seasonal factors.
Europe
In the first quarter of 2025, the European Superabsorbent Polymer (SAP) market witnessed a continued decline, driven by subdued demand and cautious procurement trends across key industries.
The market saw a rise in competition from imported SAP, particularly from Asia, where lower production costs and favorable freight rates allowed suppliers to offer cheaper alternatives. This influx of imports reduced the pricing leverage of European manufacturers, forcing many to adopt competitive pricing strategies to retain market share.
Hygiene products remained the primary application driving SAP demand; however, growth was lackluster, constrained by economic uncertainties and high inflation across the region. Consumers, faced with rising costs, prioritized essential purchases, adopting a conservative approach to buying. This cautious behavior led to subdued order volumes, further weakening market dynamics.
In response to oversupply and high inventory levels, European producers scaled back manufacturing capacities to align with the reduced demand. The overall market sentiment in Q1 2025 remained bearish, reflecting a combination of external economic pressures and regulatory challenges.
For the Quarter Ending December 2024
North America
In the fourth quarter of 2024, the U.S. Superabsorbent Polymer (SAP) market experienced significant price fluctuations. In October, SAP prices declined due to a combination of moderate demand growth and increased competition from imports, particularly from Asia and Germany. The stable supply of SAP, bolstered by consistent imports, helped maintain competitive pricing. However, weak domestic demand, particularly from hygiene product sectors, and a reduction in consumer spending led to softening prices despite steady consumption from end-use industries like diapers and adult incontinence products.
In November, the market stabilized, supported by cheaper imports from China. The decline in global freight rates contributed to lower shipping costs, enhancing the competitiveness of imported SAP. However, demand remained subdued due to high interest rates impacting the construction and manufacturing sectors, further slowing SAP consumption. A slight recovery in domestic demand followed the Presidential Election, although overall market activity remained cautious.
By December, SAP prices surged due to rising import costs, primarily driven by increased freight rates from China. Supply chain disruptions, including port congestion and fluctuating fuel prices, added to the overall cost structure. Despite these challenges, demand for SAP in hygiene products and healthcare remained strong, intensifying upward pressure on prices and reflecting the complex market dynamics of Q4 2024.
APAC
In the fourth quarter of 2024, the Superabsorbent Polymer (SAP) market exhibited varying trends across different regions. China saw stable prices throughout the quarter, with no significant fluctuations observed. The stability was due to a balanced supply and demand environment, despite weaker export demand and reduced activity in the construction sector. Manufacturers in China operated at consistent production levels, ensuring an adequate supply of SAP while managing logistics effectively, without any major disruptions.
In Korea, SAP prices remained stable as well, benefiting from steady production and moderate demand. The market was supported by consistent consumption, especially from key sectors such as hygiene and personal care products, contributing to a stable pricing environment.
However, India experienced a decline in SAP prices during Q4 2024. This downturn was attributed to weak demand in the personal care and hygiene sectors, as well as a slowdown in manufacturing activity. Economic uncertainty and export challenges further pressured the Indian market, leading to reduced consumption and price decreases.
Overall, while China and Korea maintained stable SAP prices, India faced a decline, reflecting regional differences in demand and economic conditions during the final quarter of 2024.
Europe
In the fourth quarter of 2024, Superabsorbent Polymer (SAP) prices in Europe experienced a consistent decline, driven primarily by a downward trend in feedstock costs, particularly acrylic acid. As the price of acrylic acid softened, it provided relief to SAP producers, contributing to the overall reduction in SAP prices. Despite this, downstream demand remained subdued, with no significant recovery observed from key industries such as hygiene products and healthcare. The lack of substantial order values from customers further contributed to the weak pricing trend.
Throughout the quarter, downstream activities in Europe showed little momentum, as buyers remained cautious and focused on managing existing inventories rather than placing new orders. This cautious sentiment was a result of broader economic uncertainties, including inflationary pressures and reduced consumer spending, which weighed on manufacturing activity. Additionally, the absence of major disruptions or fluctuations in supply chains helped stabilize the European SAP market at lower price levels.
Despite some expectation for seasonal demand growth during the year-end period, it did not materialize as expected, leaving the market in a state of continued price decline. Overall, the combination of lower feedstock costs and weak demand from downstream sectors shaped the European SAP market in Q4 2024, leading to a consistent decrease in prices throughout the quarter.
For the Quarter Ending September 2024
North America
In Q3 2024, Superabsorbent Polymer (SAP) prices in North America, especially in the USA, showed a mixed trend. Market dynamics were shaped by strong demand from the construction sector, rising global freight rates, and container shortages. The first two months of the quarter saw a downward trend in prices, driven by inexpensive imported cargo from overseas. However, in the last month, prices increased by 2.5% due to supply chain disruptions. The construction industry in the USA experienced moderate growth, which led to higher consumption of SAP.
Concurrently, rising labor costs and supplier charges further pushed prices upwards. The market faced additional uncertainties stemming from potential strikes at ports and approaching storms in the Gulf of Mexico, which impacted purchasing decisions. Moreover, disruptions in shipping routes and congestion at ports exerted additional pressure on prices, while plant shutdowns further intensified the supply chain challenges throughout the quarter.
The quarter recorded a 6% increase from the previous quarter, with a 2% price variance between the first and second half of the quarter. Ultimately, the quarter-ending price stood at USD 1620/MT of SAP CFR USGC in the USA, reflecting a positive pricing environment characterized by increasing trends and strong demand.
APAC
The third quarter of 2024 has been characterized by a mixed trend in Superabsorbent Polymer (SAP) pricing across the APAC region. Several key factors have influenced this market dynamic. The first two months of SAP market declined in China and latter quarter rose due to supply disruptions. Traders reported varied demand conditions: some experienced moderate demand, while others saw sluggish activity, with some buyers choosing to wait and see. Chinese factory activity slowed, exacerbating economic strain amid a prolonged property sector crisis. Further, heavy rainfall and flooding in some areas complicated construction efforts and caused logistical challenges. These adverse conditions led to a slowdown in ongoing projects and hesitance to initiate new ones, reducing demand for the product and reflecting the trend of weakened construction activity in the affected regions. These factors collectively contributed to the stable SAP market, as demand constraints balanced out with supply challenges. Consequently, firms reduced their purchasing activity, although employment levels remained relatively steady. In the latter quarter typhoon Bebinca intensified the situation, causing severe flooding and disrupting logistics during the Mid-Autumn Festival, making transportation more challenging and adding to the already moderate demand. These factors have created significant uncertainty for market participants, who are dealing with tight supply, and logistical obstacles, all of which are contributing to the incline in SAP prices. Moreover, a 2% price hike was observed from the preceding quarter, indicating a continued upward trajectory. The quarter-ending price for SAP in China stood at USD 1343/MT FOB Qingdao, underscoring the prevailing positive sentiment in the pricing landscape.
Europe
In Q3 2024, the Superabsorbent Polymer (SAP) market in Europe experienced a generally stable pricing environment, characterized by minimal fluctuations. This stability was largely supported by steady demand from essential sectors such as hygiene, agriculture, and healthcare, which continued to drive consumption despite broader economic uncertainties. However, Germany stood out with notable price fluctuations, reflecting a more dynamic market landscape. Several factors contributed to this volatility, including ongoing supply chain disruptions that hindered the timely delivery of raw materials and finished products. Additionally, rising input costs—stemming from energy price increases and raw material shortages—placed pressure on manufacturers, prompting them to adjust pricing strategies. Throughout the quarter, the balance between supply and demand remained relatively stable, allowing many manufacturers to adapt effectively to changing market conditions. Some companies focused on optimizing production processes and exploring alternative sourcing strategies to mitigate cost pressures. As a result, while the overall European SAP market exhibited resilience, the specific challenges faced in Germany highlighted the complexities of regional dynamics within the broader landscape. This adaptability underscores the industry’s capacity to navigate evolving economic conditions.
For the Quarter Ending June 2024
North America
In the second quarter of 2024, North America's Superabsorbent Polymer (SAP) market has experienced a notable surge in prices, driven primarily by a stark imbalance between demand and supply. The increase in SAP pricing has been fuelled by heightened demand from downstream sectors such as agriculture and personal care, which are particularly active during the summer season. This surge in demand, combined with persistent supply constraints, has created a bullish market environment. Consumption patterns have been robust, with strategic inventory accumulation further tightening supply. Logistical disruptions, including a significant incident at the Port of Baltimore, have exacerbated these supply chain challenges, adding additional pressure to SAP pricing. Notably, there were no major plant shutdowns reported during this period.
In the United States, the SAP market has seen the most dramatic price changes. Strong demand, coupled with limited supply, has intensified market conditions, allowing suppliers to command higher prices. Seasonal factors and increased manufacturing activity have further strained the supply-demand balance, creating favourable conditions for suppliers to achieve higher profit margins. Despite unfavourable export conditions, there has been notable export activity to South America, driven by heightened demand from the agricultural sector there. Overall, the price trend has been upward throughout the quarter, with a significant 17% increase observed between the first and second halves of the quarter, highlighting the severe demand-supply imbalance.
By the end of the quarter, SAP prices in the USA had reached USD 1600 per metric ton, CFR USGC, reflecting a robust and consistently positive pricing environment. This represents a marked increase from the previous quarter, which saw a price shift of only 2%, underscoring the escalating market sentiment and reinforcing a bullish outlook for SAP in North America. This dramatic rise in prices emphasizes the strength of the market forces at play and the significant impact of supply and demand dynamics on SAP pricing.
APAC
In the second quarter of 2024, the Superabsorbent Polymer (SAP) market in the APAC region has experienced a significant surge in pricing, driven by several pivotal factors. The sharp increase in SAP prices can be attributed to a substantial rise in demand from both the agricultural and pharmaceutical industries. Additionally, supply constraints, amplified by logistical challenges and limited inventory levels, have further intensified the upward pressure on prices. Market participants were recorded to have been engaged in vigorous trading activity, strategically adjusting their inventories to cope with fluctuating market conditions, which has further fuelled the bullish market sentiment. Rising energy costs have also contributed to this trend by increasing operational expenses, leading to higher SAP price offers. South Korea has seen the most pronounced price changes within the SAP market this quarter. The market dynamics have been marked by a consistent upward trend, driven largely by heightened demand from the personal care sector, especially for disposable diapers and adult incontinence products. Seasonal factors are also at play, with anticipated increases in construction activities boosting demand across various sectors. The rising prices of key feedstocks, such as Acrylic Acid, coupled with escalating energy costs, have reinforced the bullish outlook for SAP prices. Compared to the previous quarter, SAP prices have risen by 1%, with a notable 3% increase observed between the first and second halves of the quarter, reflecting the ongoing imbalances between demand and supply. Supply chains have been further strained by disruptions in port operations due to dense fog and partial plant shutdowns, adding to the positive pricing environment. As the quarter concludes, SAP prices in South Korea have reached USD 1280 per metric ton, FOB Busan. This price point underscores the robust demand and constrained supply conditions that have characterized the market throughout the quarter, highlighting a period of significant price escalation driven by a complex interplay of demand, supply disruptions, and rising costs.
Europe
In the second quarter of 2024, the European Superabsorbent Polymer (SAP) market has predominantly exhibited a bullish trend, driven largely by increased demand from agricultural and personal care sectors. The surge in demand is attributed to the current planting season for summer and winter crops, as well as the peak summer season, which has spurred heightened activity in the personal care sector, especially in June. However, demand from the construction sector remains weak, dampening the overall impact on SAP prices.
Consumption patterns for SAP have been strong, with significant inventory accumulation further tightening supply. Unfortunately, logistical challenges have compounded the situation. Floods in May 2024 affecting the Danube, Elbe, and Rhine rivers, along with strikes at ports and disruptions in rail networks, have severely hampered the movement of SAP. These issues have extended delivery times, adding to the supply constraints.
Additionally, the European Central Bank's decision to lower interest rates has positively impacted transactional activity among local buyers, contributing to a favourable demand outlook. Despite these positive factors, the overall rise in SAP prices has been relatively steady. This stability can be attributed to the ongoing subdued demand from the construction sector, which has prevented more substantial price increases. The construction industry continues to face challenges such as project cancellations, delays in permit approvals, and historically low performance in residential construction. The decline in foreign investment sentiment has further exacerbated the situation, resulting in improved availability of subcontractors but a generally pessimistic outlook on purchasing activities for construction materials. In summary, while the European SAP market benefits from strong demand in agriculture and personal care, the persistent weak demand in construction and ongoing logistical disruptions have kept SAP price increases in check, leading to a cautiously optimistic market environment.
