PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1512145
PUBLISHER: Prescient & Strategic Intelligence | PRODUCT CODE: 1512145
Market Overview
In 2023, the hygroscopic building material industry produced revenue of USD 866.7 million, which is projected to experience a CAGR of 7.8% over the projection period, attaining USD 1,443.5 million by the end of the decade. This will be attributed to the growth in housing needs of residential, commercial, and industrial structures, increase in population, development in urbanization, shifts in human life, advancement in need for conducive workplaces, and recovery after COVID-19 outbreak.
Key Insights
Inorganic minerals category dominated the market with a 60% share in 2023.
Increasing demand for structural applications drives this category.
Concrete's hygroscopic attributes, low cost, and accessibility contribute to its broad application range.
Clays are essential for ceramics, plasters, and bricks due to their strength, thermal resistance, and durability.
Vast adaptability and widespread use of clays ensure their significant market share.
Affordability and reliability of inorganic minerals and clays maintain their high demand despite economic fluctuations.
Sustainability and eco-friendliness contribute to their dominance as the world moves towards green practices.
Easy availability and minimal environmental impact of inorganic minerals support their increased use.
Technological advancements and ongoing R&D enhance the utility of these materials.
Wider applications in the evolving construction industry boost their significance.
Ability to adapt to changing consumer demands and market conditions cements their market leadership.
The inorganic salts category is projected to experience the highest CAGR of 8% during the projection period, propelled by their capability to absorb and release moisture, advancing indoor humidity control.
Growing emphasis on indoor air quality and moisture management fuels the need for inorganic salts in healthier indoor environments.
Adaptability to numerous materials and applications, armed with constant research and development investments, advances the efficacy and potential uses of inorganic salts.
Building material category dominates the market with a 70% share due to its effectiveness in maintaining indoor air quality, controlling moisture, and sustainability.
Hygroscopic materials like amorphous silica, calcium oxides, and activated alumina are widely used for their moisture adsorption abilities and importance in concrete and dewatering additives.
Versatility and adaptability to industry trends and various climates make these materials ideal for walls, flooring, and insulation.
Residential category predicted to hold a 30% share in 2030, driven by urbanization, population growth, and government housing initiatives.
Rising demand for eco-friendly building materials and energy-efficient homes boosts the residential construction sector.
COVID-19 pandemic increased demand for multifunctional homes, driving innovative construction materials and designs.
APAC region expected to grow at a CAGR of 10% from 2024 to 2030, with China as the largest market, driven by inexpensive labor, growing construction demand, and government efforts on smart cities and sustainable urban development.
Founded in 1947, Porocel Corporation is one of the largest global producers of hygroscopic building materials. It has expanded rapidly, and it now offers a broad range of products, including activated alumina, molecular sieves, and silica gels.