Hygroscopic Building Material Market worth $1,120 million by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 2, 2022 /PRNewswire/ -- According to the new market research report "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 - Global Forecast to 2027", published by MarketsandMarkets™, the global Hygroscopic Building Material Market size is projected to grow from USD 818 million in 2022 to USD 1,120 million by 2027, at a CAGR of 6.5% between 2022 and 2027. Hygroscopic building materials can absorb and store moisture from the surrounding air. The process of absorbing or desorbing depends on the relative humidity (RH) difference in the vapor partial pressure of the air in the vicinity. The hygroscopic potential of a material depends on the available surface area/porosity and material nature. Hygroscopic materials are used in buildings to control the humidity indoors and maintain a habitable environment in residential, commercial, or industrial buildings.
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The commercial enduse segment is estimated to lead the hygroscopic building material market during the forecast period.
Based on end-use, the commercial use of hygroscopic building material accounted for the largest market share in 2021 and is projected to grow at a CAGR of 6.7%. With the burst in population in the last decades, the need for new complexes, shopping malls, and other commercial buildings has increased. These places hold large foot traffic and require a pleasant environment and good ventilation. Hygroscopic materials are used in commercial buildings to achieve an optimum humidity level for people to move at their leisure.
The building material application is expected to have the fastest growth in the hygroscopic building material market during the forecast period.
Based on application, the hygroscopic materials in the building material segment accounted for the largest market share in 2021 and is projected to reach USD 677.6 million by 2027, growing at a CAGR of 6.5%. The segment's high market share can be attributed to its wide use of hygroscopic material as concrete admixtures. Furthermore, various hygroscopic clays or molecular sieves are used as additives in paints & coatings.
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Asia Pacific is expected to be the largest market for hygroscopic building material during the forecast period.
Asia Pacific is the largest market for hygroscopic building material. The availability of low-cost raw materials and labor, coupled with increasing domestic demand, make the region an attractive investment destination for many industries. The rising population, urbanization, industrialization, and concerns related to infrastructure development in China and India are expected to drive the market in this region.
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).
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