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.
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.
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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.
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
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
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