Dublin, July 20, 2023 (GLOBE NEWSWIRE) -- The "Global Hygroscopic Building Material Market by Type, Adsorption Process, End-User - Cumulative Impact of COVID-19, Russia Ukraine Conflict, and High Inflation - Forecast 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The Global Hygroscopic Building Material Market size was estimated at USD 963.15 million in 2022, USD 1.04 billion in 2023, and is projected to grow at a Compound Annual Growth Rate (CAGR) of 8.67% to reach USD 1.87 billion by 2030.
In this report, 2018 to 2021 are considered as historical years, 2022 is base year, 2023 is estimated year, and years from 2024 to 2030 are considered as forecast period.
The Cumulative Impact of COVID-19, the Russia-Ukraine Conflict, and High Inflation is expected to have significant long-term effects on the Global Hygroscopic Building Material Market, impactingdemand-supply balances, pressure on pricing variants, and import/export and trading.
The Market Share Analysis offers an insightful look at the current state of vendors in a particular market space. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share.
The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Additionally, the report addresses the impact of High Inflation on the global economy and details fiscal policies measuring and reducing its effects on demand, supply, cash flow, and currency exchange.
Market Segmentation & Coverage:
- Based on Type, the market is studied across Inorganic Minerals & Clays, Inorganic Salts, Molecular Sieve, Natural Hygroscopic Materials, and Silica or Silicon Dioxide.
- The Inorganic Salts is projected to witness significant market share during forecast period.
- Based on Adsorption Process, the market is studied across Chemical Adsorption and Physical Adsorption.
- The Chemical Adsorption is projected to witness significant market share during forecast period.
- Based on End-User, the market is studied across Commercial, Industrial, and Residential.
- The Industrial is projected to witness significant market share during forecast period.
- The Americas commanded largest market share of 38.74% in 2022, followed by Europe, Middle East & Africa.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 181 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.04 Billion |
| Forecasted Market Value (USD) by 2030 | $1.87 Billion |
| Compound Annual Growth Rate | 8.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising construction activities with growing expenditures on residential, commercial, and industrial construction
- Increasing consumer focus on standardizing indoor air humidity
- Favorable governmental initiatives and investments for energy-saving construction materials
Restraints
- Limited adoption of hygroscopic building materials owing to safety issues
Opportunities
- Ongoing research and development activities for advancement of hygroscopic building materials
- Overgrowing urbanization coupled with rising consumer shift towards comfortable residential spaces
Challenges
- Issues relating to depletion of raw materials
Market Trends
- Cumulative Impact of COVID-19
- Cumulative Impact of Russia-Ukraine Conflict
- Cumulative Impact of High Inflation
- Porter's Five Forces Analysis
- Value Chain & Critical Path Analysis
- Regulatory Framework
Competitive Landscape
- Arkema S.A.
- BASF SE
- Clariant AG
- Desicca Chemical Pvt. Ltd.
- Evonik Industries AG
- Fuji Silysia Chemical Ltd.
- Hengye Inc.
- Honeywell International Inc.
- Jalon Chemicals
- Kureha Corporation
- Merck KGaA
- Sorbead India
- W. R. Grace & Co.
- ZEOCHEM AG by CPH Chemie + Papier Holding AG
- ZR Catalyst Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/iruawv
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