Hydrophobing Agents Market projected to exceed $1 billion by 2026, says Global Market Insights Inc.
Increasing construction and renovation activities and rising demand from automotive paints is likely to augment the hydrophobing agents market share, says this report.
SELBYVILLE, Del., October 13, 2020 (Newswire.com) - Based on a Global Market Insights Inc., report, the global hydrophobing agents market was estimated at $950 million in 2019 and is slated to surpass $1 billion by 2026, registering a CAGR of 4% from 2020 to 2026. The report provides an in-depth analysis of the key investment avenues, drivers and opportunities, key winning strategies, wavering industry trends, competitive scenarios, and market estimations as well as size.
Increasing consumer awareness regarding the need for healthy hygienic practices during the spread of pandemics such as COVID-19 is likely to raise the demand for cleaning agents and disinfectants, thus boosting the growth of the hydrophobing agents market. The increasing applications of the product in manufacturing cosmetic products such as face powders, compact powders, and blusher, among others, are likely to raise the product demand.
Inks application is expected to reach USD 97.20 million by 2026 from USD 75.02 million in 2019 growing at a CAGR of 3.9% over the assessment period. An increase in the consumption of paper for packaging applications is likely to raise the demand for inks, which may foster hydrophobing agents market growth.
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Hydrophobic polymers are expected to witness a rise owing to their remarkable attributes such as their lubricating properties, separating properties, water repellence, gelling capacity, stabilizing effect, foam inhibition, and acid scavenging properties. Hydrophobic polymers find applications in building & construction, inks, personal care, and paints & coatings owing to their outstanding properties.
The hydrophobing agents market from building & construction applications is expected to reach USD 719.2 million by 2026. The widespread use of hydrophobing agents in mineral & pasty plasters to prevent moisture deterioration.is expected to boost product demand from the construction sector. Rising infrastructural development, increasing spending capacity of people, and spurring renovation activities of residential, commercial, and industrial buildings may further augment market growth.
Some major findings of the hydrophobing agent market report include:
- The demand for global hydrophobing agent products is rising owing to increasing construction and renovation activities across the world.
- The paints and coatings application segment is expected to grow at a CAGR of 3.7% between 2020 and 2026. Changing consumer preference towards the possession of cars with different colors with different effects such as gloss and pearlescent effect is likely to augment the business growth.
- Disruptions in the supply chain and shortage of transportation facilities due to the COVID-19 pandemic may hamper the growth of the market to some extent.
- Europe hydrophobing agents market is expected to reach USD 343 million by 2026 growing at a CAGR of 3.8% during the forecast period.
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Asia Pacific is expected to reach USD 533.54 Million by 2026 owing to the increasing infrastructural development and renovation activities in the region. This is mainly attributed to the rising per capita income of people coupled with the increasing need to own a self-possessed house. The increasing number of mergers, acquisitions and collaborations among key players is expected to further boost the growth of the hydrophobing agents market in the region. Statistics show that China held the highest share of about 47% in the Asia Pacific construction industry in 2014.
Industry players are engaged in inorganic growth strategies such as mergers and acquisitions and partnerships with small players to enhance their client's reach and improve their business. Manufacturers are heavily investing in R&D to provide better quality products with improved features and technological benefits.
Some of the major players in the market include Zschimmer & Schwarz Holding GmbH & Co. KG, Baerlocher GmbH, The Dow Chemical Company, Wacker Chemie AG, Peter Greven, FACI S.P.A, Celanese Corporation.
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting, and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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Source: Global Market Insights Inc.
