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The geopolymers market size is estimated to grow by USD 12.87 billion at a CAGR of 25.57% between 2023 and 2028. The growth of the market depends on several factors such as the increase in the adoption of geopolymers in the cement industry, the increasing demand from the repair and rehabilitation market, and the government initiatives to promote sustainable infrastructure.
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In the landscape of business, innovations drive progress, influenced by environmental factors and shaped by economic conditions. The availability of raw materials and advancements in manufacturing processes dictate product development and operational efficiency. Moreover, addressing sustainability concerns is imperative, ensuring responsible resource utilization and minimizing environmental impact. Concurrently, adherence to stringent government regulations is essential to maintain compliance and foster a conducive business environment.
An increase in adoption of geopolymers in cement industry is the key factor driving market growth. In comparison to Portland cement, geopolymer cement reduces carbon emissions effectively by 70%-80%. The most harmful pollutant from pyro-processing, crushing, grinding, and storage activities is dust, which can lead to respiratory issues. Furthermore, when slag is available as a byproduct, the production of rock-based geopolymer cement produces 80% less CO2 than Portland cement. This is the most advantageous scenario. In the least favorable case of slag manufacture, there is a 70% reduction in CO2 emissions.
Moreover, by doing this, the carbon footprint can be reduced by up to 70%. The products are designed to meet the need for resilient and long-lasting buildings and infrastructure with a low carbon footprint. Consequently, one of the main factors driving the demand for environment-friendly cement solutions, such as geopolymer concrete, is the environmental regulations and emission limits. Hence, the market will witness growth during the forecast period.
Growing focus on green buildings is one of the primary market trends. A green building is one that can have positive effects on the environment and prevent global climate change while reducing or eliminating harmful effects through design, construction, or operation. Sustainable, ethical, and non-toxic building materials are used in the construction of green buildings. Because of this, geopolymer concrete reduces carbon dioxide emissions by about 80%. Since geopolymer assures sustainability, it is increasingly becoming important in green buildings.
In addition, governments across the globe are also encouraging the construction of green buildings. The European Commission's (EC) Green Building Program is a perfect illustration of this. Hence, the focus on green building construction will boost the growth of the market during the forecast period.
Lack of awareness among researchers is a challenge that affects market growth. In contrast to Portland cement, geopolymer concrete has been used on a commercial scale in the construction industry mainly due to the lack of knowledge about geopolymers. Numerous research studies have demonstrated the potential of geopolymer as an infrastructure repair material. The use of geopolymer concrete in highway infrastructure projects still remains low, notwithstanding these studies.
Furthermore, Earth Friendly Concrete (EFC) from Wagners, one of the top producers of geopolymers, was used in conjunction with materials from two prestigious UK companies, Keltbray Group and Capital Concrete. To get past the obstacles that might prevent the market from expanding, end-users must be made aware of the advantages of these materials. Thus, the lack of awareness may impede market growth during the forecast period.
The market growth analysis research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Understanding the chemical composition of materials is crucial for determining their material properties and suitability for various industrial applications. In the construction sector, materials must meet specific standards to ensure structural integrity and safety. Similarly, in the aerospace industry, materials undergo rigorous testing to withstand extreme conditions. Moreover, the energy sector relies on materials with specific properties to enhance efficiency and reliability. In infrastructure projects, materials must meet durability requirements to withstand environmental stressors
The cement and concrete segment is estimated to grow significantly during the forecast period. Cement is one of the most vital commodities in developing economies as it serves as one of the main materials used in concrete production, which is used in the construction of buildings, civil infrastructure, and industrial facilities. Cement production is significantly high, and it is expected to increase further.
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The cement and concrete segment was the largest segment and was valued at USD 1.18 billion in 2018. Waste materials like fly ash and ground granulated blast furnace slag (GGBS) are used to make geopolymer concrete. GGBS and fly ash are both processed using the relevant technology, using geopolymer concrete lowers carbon emissions by lowering the need for Portland cement and stock waste. Geopolymer cement and concrete are used for the construction of pavements, retaining walls, water tanks, and more. Hence, due to its favorable binding properties, the geopolymers cement and concrete segment will boost the growth of the global market during the forecast period.
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APAC is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Due to the increase in construction and infrastructural projects in the APAC region, rapid urbanization, and industrialization in India and China, these two countries are driving the market. Governments in APAC countries such as China, India, Japan, and more are promoting sustainable infrastructure development, which can reduce carbon emissions, which are expected to drive market growth
Moreover, geopolymers are gaining traction as viable alternatives to traditional cement and concrete due to their superior strength, durability, and eco-friendly properties. Furthermore, with geopolymers increasingly being used in building construction, governments and the general public are becoming more aware of the benefits of using geopolymer concrete. Hence, such factors are expected to drive market growth in this region during the forecast period.
The Geopolymers Market, particularly prominent in Asia-Pacific, garners attention from organizations like the World Bank for its green technology potential. Geopolymer materials, including bricks and panels, gain traction for their sustainability benefits. Innovations like Wagner's Earth Friendly Concrete (EFC) and collaborations between the University of Queensland's Global Change Institute (GCI), Hassell, and Bligh Tanner propel market growth. Notable projects like the Toowoomba Wellcamp Airport showcase the practical applications of geopolymers in construction, emphasizing durability and environmental consciousness. With ongoing advancements, the geopolymer market continues to expand, offering eco-friendly solutions to meet the demands of modern infrastructure development.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Geopolymers Market Scope |
|
Market Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 25.57% |
Market Growth 2024-2028 |
USD 12.87 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
25.37 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 36% |
Key countries |
US, China, India, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alchemy Geopolymer Solutions LLC, BASF SE, CEMEX SAB de CV, Ecocem Ireland Ltd., Geopolymer International, Geopolymer Solutions LLC, JSW STEEL Ltd., Kiran Global Chem Ltd., Pyromeral Systems, RENCA Inc., Schlumberger Ltd., smartfix Industries, Terra CO2, Uretek India Pvt. Ltd., Wagners Holding Co. Ltd., and Zeobond Pty Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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