by The global geopolymer market is driven by increasing demand for sustainable and eco-friendly construction materials. Geopolymer is an inorganic polymer binder used in concrete as an alternative cementitious material. It is formed through alkali activation of materials containing silicon and aluminum such as fly ash and slag. Geopolymers exhibit several advantages over ordinary Portland cement including higher compressive strength, chemical and thermal resistance, low energy consumption during production, and carbon dioxide emission reduction compared to traditional concrete.
The global geopolymer market is estimated to be valued at US$ 11.29 Mn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Geopolymer binds aggregate materials together much like concrete but produces considerably less carbon dioxide emissions in its production process compared to Portland cement. It can be molded into various prefabricated construction components and offers significant environmental benefits. Geopolymers are widely used in building infrastructure, residential and commercial construction. The material is gaining acceptance as a sustainable alternative to ordinary concrete mainly due to declining resource availability of limestone for Portland cement production and increasing concerns regarding carbon footprint of the cement industry. The global geopolymer market is driven by stringent environmental regulations promoting use of low-carbon building materials.
Market key trends:
One of the key trends in the geopolymer market size is growing application in pre-cast construction where large prefabricated structural components are cast offsite using geopolymer concrete and later assembled on construction sites. This improves construction efficiency. Another major trend is expansion of geopolymer production capacity by key market players to cater to rising demand from the construction industry. Many companies are investing in R&D to develop innovative geopolymer binder formulations with enhanced physical and chemical properties for different construction applications.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as it requires significant capital investment to setup manufacturing facilities for geopolymer materials.
Bargaining power of buyers: The bargaining power of buyers is low as geopolymer market is highly fragmented with presence of numerous suppliers. However, buyers have modest bargaining power due to availability of substitutes.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials used in geopolymer production such as fly ash, slag are commoditized. However, suppliers have bargaining power due to high switching costs for buyers.
Threat of new substitutes: The threat of new substitutes is high as cement and concrete are economically viable substitutes for certain non-structural applications of geopolymers.
Competitive rivalry: The competitive rivalry is high due to presence of numerous international and local players offering similar geopolymer products.
Key Takeaways
The global geopolymer market is expected to witness high growth over the forecast period of 2024 to 2031. The market size is projected to reach US$ 11.29 Mn in 2024 from US$ 7.18 Mn in 2019, growing at a CAGR of 6.2% during the forecast period.
Regional analysis: Asia Pacific region dominated the global geopolymer market in 2019 and is expected to maintain its dominance during the forecast period. This can be attributed to growing construction activities in China and India. Europe is also expected to witness significant growth in the geopolymer market driven by stringent environmental regulations favoring sustainable construction materials.
Key players: Key players operating in the geopolymer market are 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. Imerys Group, Milliken & Company Inc. and PCI Augsburg GMBH are recognized as leading players in the global geopolymer market.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
