Hygroscopic Building Material Market by Type (Inorganic Minerals, Inorganic Salts, Natural Materials, Molecular Sieve, and Silica/Silicon Dioxide), End-User (Residential, Commercial, and Industrial): Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026673 | Pages: 100 | Industry: Chemicals and Materials | Date: Oct 2022 | Type: Global

The market crossed US$ 818.0 million mark in 2022 and is expected to hit US$ 1,268.5 million by 2030, recording a CAGR of 5.5% during the forecast period.

Hygroscopic building material market has been significantly growing with the increasing population and rapid urbanization

According to the United Nations (UN) Department of Economic and Social Affairs/Population Division and World Population 2019, the world population is anticipated to reach 9.5 billion by 2050. The rapid urbanization and industrialization has escalated residential and commercial construction. Moreover, the migration of rural residents to urban regions boosts the development of cities and towns. In accordance with the report by the Population Reference Bureau (PRB), China, India, and other Asian countries accounted for a population of around 4.6 billion in 2020. The APAC Human Development Report (2019) published by the United Nations Development Programme projected that the total population in the Asia Pacific is expected to reach 4.99 billion by 2050, of which urban population is forecast to be 64%. Therefore, the increasing investment in residential and commercial properties, due to growing population is anticipated to increase the demand for hygroscopic building material. 

Within the report, the market is segmented into type, end-user, and geography. By type, the market is further divided into inorganic minerals, inorganic salts, natural materials, molecular sieve, and silica/silicon dioxide. By end-user, the market is further fragmented into residential, commercial and industrial. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Growing adoption of amorphous silica, activated alumina, and calcium oxides in building materials

The building materials include utilization of amorphous silica, activated alumina, and calcium oxides, owing to its distinct characteristics such as moisture adsorbing ability and wide utilization scope in concrete materials and dewatering additives. Concrete is composed of cement, fine aggregates and coarse aggregates. However, the concrete materials and structures is affected by cracks induced by freeze-thawing, carbonization, alkali-aggregate reactions, chemical attacks, and rebar corrosion, thus affecting the durability of concrete. Moreover, coastal buildings are ruined by salt, and hygroscopic performance of the building materials significantly affects the building energy consumption. Thus, the addition of hygroscopic building material in concrete enhances durability and absorbs moisture.

Rising demand from emerging markets such as residential, commercial and industrial construction

The emerging economies such as China and India, has witnessed a rise in residential and commercial construction. This has resulted in upsurge in the demand of hygroscopic building materials in various applications. The risen real estate business, construction of private properties and investment in residential and commercial properties has influenced the construction sector. These factors are expected to boost the hygroscopic building material market globally during the forecast period.  

Recent strategic developments in hygroscopic building material market

The hygroscopic building material market has undergone several significant developments, and a few of these have been mentioned below:

  • In June 2021, W. R. Grace & Co. acquired Fine Chemistry Services business of Albemarle Corporation. The deal value was disclosed as US$ 570 million. The acquisition aims to strengthen and expand pharmaceutical portfolio.

The hygroscopic building material market is driven by several players implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Porocel Corporation, W.R. Grace, Clariant, BASF SE, Honeywell International are among the prominent players operating in the market.

Target audience for the report:

  • Raw material providers
  • Hygroscopic building material end users
  • Hygroscopic building material manufacturers
  • Hygroscopic building material -related associations, organizations, forums, and alliances
  • Government bodies, such as regulating authorities and policy makers
  • Venture capitalists, private equity firms, and start-up companies
  • Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Type:
    • Inorganic Minerals
    • Inorganic Salts
    • Natural Materials
    • Molecular Sieve
    • Silica/Silicon Dioxide
  • End-User:
    • Residential
    • Commercial
    • Industrial
  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa
  • Companies profiled
    • Porocel Corporation
    • W.R. Grace
    • Clariant
    • BASF SE
    • Honeywell International

The List of Companies
- Porocel Corporation
- W.R. Grace
- Clariant
- BASF SE
- Honeywell International

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