Global $16.2 Billion Geopolymer Market Report, Size, Share, Trends and Forecast to 2024
The global geopolymer market is currently driven by the increasing infrastructural activities and initiatives undertaken by governing authorities across the globe to minimize greenhouse gas emissions.
Global Geopolymer Market Trends:
As per the latest report by IMARC Group, titled “Geopolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global geopolymer market size reached US$ 3.8 Billion in 2018. Geopolymers are inorganic ceramic materials that are synthesized by combining source materials that are rich in silica and alumina, including fly ash (FA) and ground granulated blast furnace slags (GGBFS), and strong alkali solutions such as potassium hydroxide (KOH) and sodium hydroxide (NaOH). While most of these polymers are artificially produced, a few also occur naturally. As geopolymers offer thermal insulation and high heat resistance, they are utilized in fire and heat resistant coatings, high-temperature ceramics, toxic and radioactive waste encapsulation and cement for forming concrete.
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Global Geopolymer Market Trends:
The geopolymer market is experiencing robust growth owing to rapid urbanization, growing global population and increasing infrastructural activities, particularly in the Asia Pacific region. As geopolymers offer advantageous properties, such as low creep, acid resistance, high strength, ultra-porosity and low drying shrinkage, they are rapidly replacing Portland cement as a binder in concrete. Additionally, geopolymers are cheaper than Portland cement, and their production emits lesser carbon dioxide. Therefore, they find applications in the repairing of roads, bridges, tunnels, and rehabilitation of pipes and structures in the civil infrastructure, oil and gas, and chemical industries. Further, governments in numerous countries are introducing stringent regulations to reduce greenhouse gas emissions. For instance, the EU Emissions Trading Scheme (ETS) sets a maximum cap on emissions with allocated allowances that have assisted in reducing greenhouse gas emissions in the region. Looking forward, the market is projected to reach a value of US$ 16.2 Billion by 2024, expanding at a CAGR of around 27% during 2019-2024.
Insights on Market Segmentation:
Breakup by Application
1. Cement and Concrete
2. Furnace and Reactor Insulators
4. Decorative Artifacts
Based on the application, the market has been classified into cement and concrete, furnace and reactor insulators, composites, and decorative artifacts. Amongst these, the cement and concrete segment exhibits a clear dominance in the market.
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Breakup by End-Use Industry
1. Building Construction
4. Art and Decoration
On the basis of the end use, the market has been segmented into building construction, infrastructure, industrial, art and decoration, and others. Currently, building construction accounts for the majority of the total market share.
Breakup by Region
1. Asia Pacific
3. North America
4. Middle East and Africa
5. Latin America
Region-wise, the market has been divided into Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. At present, Asia Pacific represents the leading market, holding the majority of the global share.
The competitive landscape of the market has been examined with some of the key players being Imerys Group, Milliken & Company Inc., PCI Augsburg GMBH, DowDuPont, Rocla, Wagners, Universal Enterprise, Schlumberger Ltd., Murray & Roberts Cementation Co. Ltd., Banah UK Ltd., Zeobond Pty Ltd., Uretek, BASF, Corning Inc., Nu-Core, Pyromeral Systems and Airbus.
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