According to IMARC Group latest published report, The global geopolymer market Size reached US$ 6.0 Billion in 2022. Looking forward, the market expected to reach US$ 19 Billion by 2028, exhibiting a growth rate (CAGR) of 21.2% during 2023-2028.
Year Considered to Estimate the Market Size:
Base Year of the Analysis: 2022
Historical Period: 2017-2022
Forecast Period: 2023-2028
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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Market Trends and Drivers
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global geopolymer market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on application and end-use industry.
Breakup by Application:
- Cement and Concrete
- Furnace and Reactor Insulators
- Composites
- Decorative Artifacts
Based on the application, the market has been segmented into cement and concrete, furnace and reactor insulators, composites, and decorative artifacts. The cement and concrete segment currently accounts for the largest share.
Breakup by End-Use Industry:
- Building Construction
- Infrastructure
- Industrial
- Art and Decoration
- Others
On the basis of end-use industries, the market has been segmented into building construction, infrastructure, industrial, art and decoration, and others.
Breakup by Region:
- Asia-Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market, accounting for majority of the global share.
Competitive Landscape:
The competitive landscape of the market has also been examined with some of the key players being Imerys Group, Milliken & Company Inc., PCI Augsburg GMBH, 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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