July 13, 2024
Geopolymer Market

Rising environmental concerns to boost the growth of Geopolymer Market

The global Geopolymer Market is estimated to be valued at US$ 9.80 Bn in 2023 and is expected to exhibit a CAGR of 25.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Geopolymers are inorganic alumino-silicate cements that are produced from industrial by-products such as fly ash or slag. They can be used as an alternative to traditional cement in various construction applications such as concrete, masonry units, road and rail construction, and repair. Geopolymers offer advantages such as high compressive strength, lightweight, durability, fire resistance, acid resistance, and lower heat generation during curing. They also require less energy to produce and emit lower carbon dioxide emissions compared to traditional cement making them more environment-friendly. This is a major factor driving their increasing adoption in construction applications aimed at reducing carbon footprint.

Market key trends:

The rising concerns about greenhouse gas emissions from traditional cement production are driving the adoption of more eco-friendly geopolymer cement as an alternative. Geopolymers emit 80-90% less carbon dioxide than ordinary Portland cement during production. Moreover, various government policies focused on reducing carbon emissions from the construction industry are expected to boost the geopolymer market growth over the forecast period. Advancements in geopolymer technology to enhance mechanical properties, early strength, and workability are also expanding their application scope in the construction sector. Increasing investment in infrastructure development across emerging economies will further provide opportunities for market players over the next few years.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate in the geopolymer market due to high capital requirements and technical expertise needed to enter this industry.

Bargaining power of buyers: The bargaining power of buyers is moderate as geopolymer is differentiated products and switching costs are high for customers.

Bargaining power of suppliers: The bargaining power of suppliers is low as there are numerous raw material suppliers and they do not contribute significantly to the overall cost of geopolymers.

Threat of new substitutes: The threat of new substitutes is low as geopolymers possess unique properties than conventional binders and substitutes require high capital investment in R&D.

Competitive rivalry: The competitive rivalry in the geopolymer market is high due to the presence of numerous international players.

Key Takeaways

The Global Geopolymer Market Size is expected to reach US$ 9.80 Bn in 2023 and exhibit a CAGR of 25% over the forecast period due to increasing demand from the construction industry. Geopolymers are known to provide durability and sustainability as a substitute for Ordinary Portland Cement (OPC) in construction applications.

Regional analysis: Asia Pacific dominates the global geopolymer market and is expected to grow at the fastest rate during the forecast period due to rising construction activities in China and India. Supportive government policies to reduce carbon emissions boost the adoption of geopolymers in the region.

Key players: Key players operating in the geopolymer market are Imerys Group SA, PCI Augsburg GmbH, Rocla Pty Limited, Schlumberger Ltd., Murray & RobertsCementation Co. Ltd., Banah UK Ltd., Zeobond Pty Ltd., Pyromeral Systems SA, ClockSpring NRI (Clock Spring Co Inc), CEMEX S.A.B. de C.V., Wagners LLC, Geopolymer Solutions LLC, Miliken & Company Inc., Corning Inc., Alchemy Geopolymer, Ceské lupkové závody AS, and IPR Inc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it