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Hygroscopic Building Material Market Anticipated to be Valued at US$ 1,120 Million by 2027, at a CAGR of 6.5%- Exclusive Report by MarketsandMarkets™

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Hygroscopic Building Material Market Anticipated to be Valued at US$ 1,120 Million by 2027, at a CAGR of 6.5%- Exclusive Report by MarketsandMarkets™

October 21
20:09 2022
Hygroscopic Building Material Market Anticipated to be Valued at US$ 1,120 Million by 2027, at a CAGR of 6.5%- Exclusive Report by MarketsandMarkets™
Browse 117 market data Tables and 45 Figures spread through 164 Pages and in-depth TOC on “Hygroscopic Building Material Market
Hygroscopic Building Material Market by Adsorption Process, End Use, Type (Inorganic Minerals, Inorganic Salts, Natural Materials, Molecular Sieve, Silica/Silicon Dioxide), Application (Building Material, Structural) and Region

The global hygroscopic building material market size is projected to grow from USD 818 million in 2022 to USD 1,120 million by 2026, at a CAGR of 6.5% between 2022 and 2027. Rising demand from emerging markets and growth of construction industry globally are driving the market for hygroscopic building material.  

Asia Pacific is a key market for the production of hygroscopic building materials production and is projected to grow at a CAGR of 7.0% in terms of value during the forecasted period. The availability of low-cost raw materials and labor, coupled with increasing domestic demand, makes the region an attractive investment destination for hygroscopic building materials manufacturers. The Chinese market is the key target for various international players and regional players due to the availability of cheap labor, natural resources, and supportive government policies. This has influenced the use of hygroscopic building material in industrial production.  

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Based on type, inorganic minerals/clays has the largest share in the global hygroscopic building material market. Bentonite is a naturally occurring material produced by the alteration of volcanic ash in marine environments. It mainly consists of the clay mineral smectite, usually montmorillonite which is a highly adsorbent, chemically inert, and non-corrosive substance. Bentonite possesses exceptional hygroscopic properties, plasticity and lubricity, high shear and compressive strength, high dry-bonding strength, low permeability, and low compressibility that make bentonite commercially viable. Bentonite is widely used in foundry sand binding, drilling mud, iron ore palletization, and as a waterproofing and sealing agent in civil engineering works. It has an ability to swell and gel when dispersed in water, which facilitates its use in construction applications, mainly in excavation and foundation works.  

Based on application, The building material segment dominated the hygroscopic building material market, with a share of 60.4% in terms of value, of the overall market in 2021. Hygroscopic building materials such as amorphous silica, activated alumina, and calcium oxides are used in concrete materials owing to their excellent moisture adsorbing ability. Lime or calcium oxide is one of the principal ingredients in the production of portland cement, the basis for most mortars and concrete

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The increase in demand for hygroscopic building material and the growing industrial development in the emerging economies, such as APAC, are driving the market. The key players in this market are Porocel Corporation (US), W.R. Grace (US), Clariant (Switzerland), BASF SE (Germany), Arkema SA (France), Honeywell International (UK), Jalon Chemicals (China), Hengye Inc. (US), Dessica Chemicals (India), and Fuji Silysia Chemical Ltd. (Japan). These players have adopted various strategies such as merger & acquisition, and joint venture in order to strengthen their market position. For instance, in June 2021, This acquisition is favorable for the materials technologies business segment of W.R. Grace. Fine Chemistry Business adds innovative and manufacturing capabilities to the company.  

Porocel Corporation (Evonik) was established in 1937 as a joint venture between Atlantic Richfield and Standard Oil of New Jersey. The company is one of the top manufacturers and marketers of hygroscopic materials. Porocel develops and manufactures activated alumina, specialty adsorbents like silica gel, and activated bauxite. The company offers its products for various applications in industries such as construction and chemical & petroleum processing. It serves its customers through five manufacturing sites and sales offices located in North America, Europe and Asia Pacific. 

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W.R. Grace is one of the global suppliers of specialty chemicals. The company operates through two major business segments: materials technologies and catalyst technologies. W.R. Grace offers hygroscopic building material under its materials technologies segment. This segment offers its products for general industrial purposes which can be further segmented into process adsorbents, static adsorbents, and colloidal silica in catalysts, investment casting binders, refractory additives and construction. The company offers various custom-designed catalysts and adsorbents for the construction industry. It exclusively offers various products for the building and construction industry to improve durability and visual appearance. 

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