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Geopolymer Market Report by Application (Cement and Concrete, Furnace and Reactor Insulators, Composites, Decorative Artifacts), End-Use Industry (Building Construction, Infrastructure, Industrial, Art and Decoration, and Others), and Region 2024-2032

January 2024 | 139 pages | ID: GF93BE846F7FEN
IMARC Group

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The global geopolymer market size reached US$ 7.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 40 Billion by 2032, exhibiting a growth rate (CAGR) of 20.9% during 2024-2032. The growing focus on sustainable construction practices to reduce carbon footprint, rising awareness about environmental pollution, along with favorable government initiatives, and increasing demand for waste management solutions are some of the major factors propelling the market.

Geopolymer is a mineral-based material that is manufactured through a chemical process that comprises the reaction of aluminosilicate materials with an alkaline solution, commonly involving industrial by-products, such as fly ash or slag. It is widely available as pure inorganic and hybrid geopolymers. It exhibits enhanced mechanical properties, high resistance to fire and chemicals, and has a lower carbon footprint as compared to conventional cement. As it is an eco-friendly and sustainable choice for construction and infrastructure projects, the demand for geopolymers is rising across the globe.

At present, the increasing demand for environmentally friendly and high tensile strength materials in the construction sector is influencing the market positively. Moreover, the rising utilization of geopolymers for repairing bridges, tunnels, and roads across the globe is strengthening the growth of the market. Apart from this, the growing demand for geopolymers, as they reduce energy consumption during production, is offering a favorable market outlook. Additionally, the rising utilization of these polymers in fire and heat-resistant coatings and adhesives is offering lucrative growth opportunities to industry investors. Besides this, the increasing need to reduce global warming is impelling the growth of the market. In addition to this, the rising demand for cost-effective alternatives to Portland cement as a binder in concrete is contributing to the growth of the market.

Geopolymer Market Trends/Drivers:
Rising focus on sustainable construction practices

The increasing focus on sustainable construction practices among individuals and builders across the globe is contributing to the growth of the market. Traditional cement production is a major contributor to carbon dioxide (CO2) emissions and resource depletion. Furthermore, there is a rise in awareness about the harmful impact of greenhouse gas (GHG) emissions in the environment. Apart from this, geopolymers, with their lower carbon footprint and reduced reliance on finite resources, align well with the sustainability goals. In line with this, governing agencies of various countries are encouraging the adoption of sustainable materials by reducing carbon footprint and supporting eco-friendly solutions, which is offering a favorable market outlook.

Increasing awareness about environmental pollution

The rising awareness about environmental pollution that causes various severe diseases among individuals is bolstering the growth of the market. In line with this, geopolymers offer a suitable and eco-friendly alternative to conventional cement that produces significantly fewer greenhouse gas (GHG) emissions. These polymers assist in minimizing resource consumption and improving waste management that aligns closely with the goals of pollution reduction and sustainable development. Apart from this, governing agencies and regulatory bodies of numerous countries are incentivizing the use of environmentally friendly materials by implementing stringent rules and policies to curb carbon emissions. Furthermore, this encourages construction companies to innovate geopolymer-based products and provide a more sustainable environment.

Growing demand for waste management solutions

The rising demand for these polymers in waste management systems, as they address environmental concerns and promote sustainable waste disposal solutions, is strengthening the growth of the market. These polymer-based materials encapsulate hazardous and toxic waste effectively, minimize leaching, and prevent soil and groundwater contamination. This makes them suitable for the creation of durable and stable waste containment structures, such as landfill liners and caps. In line with this, they can utilize industrial by-products like fly ash and slag that divert these materials from landfills. Furthermore, the rising utilization of these polymers, as they offer a practical and ecological solution for managing various types of waste and promoting a safer and cleaner environment for communities and ecosystems, is bolstering the growth of the market.

Geopolymer Industry Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global geopolymer market report, along with forecasts at the global and regional levels for 2024-2032. 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

Cement and concrete represent the largest market segment

The report has provided a detailed breakup and analysis of the market based on the application. This includes cement and concrete, furnace and reactor insulators, composites, and decorative artifacts. According to the report, cement and concrete represented the largest segment. Cement and concrete offer a sustainable alternative to traditional Portland cement. Geopolymer cement is produced by activating aluminosilicate materials with alkali solutions, forming a binder that can replace or supplement conventional cement in construction. Apart from this, it offers enhanced durability, reduced carbon emissions, and improved resistance to chemicals and corrosion. It also aligns with the increasing demand for eco-friendly building materials by addressing the environmental impacts of construction. In addition, various industries are focusing on sustainable practices to minimize the carbon footprint of the industry.

Breakup by End-Use Industry:

Building Construction
Infrastructure
Industrial
Art and Decoration
Others

Infrastructure accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the end-use industry. This includes building construction, infrastructure, industrial, art and decoration, and others. According to the report, infrastructure represented the largest segment. The rising utilization of these polymers in infrastructure development projects due to their improved durability, decreased environmental impact, and versatility. In addition, they offer extended service life, as they are highly resistant to deterioration from factors like harsh weather conditions and chemical exposure. They are utilized in various infrastructure applications, such as roads, bridges, and tunnels. Furthermore, their lower carbon footprint aligns with sustainability goals and attracts public organizations to invest in resilient and environmentally conscious infrastructure.

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Asia Pacific exhibits a clear dominance, accounting for the largest geopolymer market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America. According to the report, Asia Pacific accounted for the largest market share.

Asia Pacific held the biggest market share due to the growing number of power plants. In addition, the rising adoption of geopolymers to manufacture railroad sleepers is bolstering the growth of the market in the Asia Pacific region. Moreover, the increasing demand for these polymers in the concrete mix to reduce the amount of carbon dioxide (CO2) emissions in the region is supporting the growth of the market. Apart from this, the rising focus on eco-friendly practices is contributing to the growth of the market in the region.

Competitive Landscape:
Key players companies are investing in research and development (R&D) activities to develop new formulations, optimize production processes, and enhance the performance characteristics of geopolymer products. This includes exploring different raw materials, alkali activators, and curing techniques to tailor properties for specific applications. In line with this, they are diversifying their product offerings to cater to a broader range of industries and applications. This involves creating specialized blends for construction, infrastructure, aerospace, and other sectors and addressing their unique requirements. Apart from this, companies are forming collaborations with research institutions, universities, and other industry players to share knowledge, leverage expertise, and enhance technologies. Furthermore, manufacturers are ensuring their products adhere to international standards and regulations.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

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
Airbus

Recent Developments:
In March 2023, Schlumberger Ltd (SLB) introduced the EcoShield™ geopolymer cement-free system that minimizes the carbon dioxide (CO2) footprint as compared to conventional well cementing systems in the construction sector.
In 2021, Wagners achieved a milestone with Hutchinson Builders by using Earth Friendly Concrete® for what is the biggest continuous slab pour for a geopolymer concrete.

Key Questions Answered in This Report

1. What was the size of the global geopolymer market in 2023?
2. What is the expected growth rate of the global geopolymer market during 2024-2032?
3. What are the key factors driving the global geopolymer market?
4. What has been the impact of COVID-19 on the global geopolymer market?
5. What is the breakup of the global geopolymer market based on application?
6. What is the breakup of the global geopolymer market based on the end-use industry?
7. What are the key regions in the global geopolymer market?
8. Who are the key players/companies in the global geopolymer market?
1 PREFACE


2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY


4 INTRODUCTION

4.1 Overview
4.2 Properties
4.3 Key Industry Trends

5 GLOBAL GEOPOLYMER MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Application
5.5 Market Breakup by End-Use Industry
5.6 Market Breakup by Region
5.7 Market Forecast

6 MARKET BREAKUP BY APPLICATION

6.1 Cement and Concrete
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Furnace and Reactor Insulators
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Composites
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Decorative Artifacts
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY END-USE INDUSTRY

7.1 Building Construction
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Infrastructure
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Industrial
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Art and Decoration
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Others
  7.5.1 Market Trends
  7.5.2 Market Forecast

8 MARKET BREAKUP BY REGION

8.1 Asia Pacific
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Europe
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 North America
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Middle East and Africa
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Latin America
  8.5.1 Market Trends
  8.5.2 Market Forecast

9 GLOBAL GEOPOLYMER INDUSTRY: SWOT ANALYSIS

9.1 Overview
9.2 Strengths
9.3 Weaknesses
9.4 Opportunities
9.5 Threats

10 GLOBAL GEOPOLYMER INDUSTRY: VALUE CHAIN ANALYSIS

10.1 Overview
10.2 Research and Development
10.3 Raw Material Procurement
10.4 Manufacturing
10.5 Marketing
10.6 Distribution
10.7 End-Use

11 GLOBAL GEOPOLYMER INDUSTRY: PORTERS FIVE FORCES ANALYSIS

11.1 Overview
11.2 Bargaining Power of Buyers
11.3 Bargaining Power of Suppliers
11.4 Degree of Competition
11.5 Threat of New Entrants
11.6 Threat of Substitutes

12 GLOBAL GEOPOLYMER INDUSTRY: PRICE ANALYSIS

12.1 Price Indicators
12.2 Price Structure
12.3 Margin Analysis

13 GEOPOLYMER MANUFACTURING PROCESS

13.1 Product Overview
13.2 Raw Material Requirements
13.3 Manufacturing Process
13.4 Key Success and Risk Factors

14 COMPETITIVE LANDSCAPE

14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
  14.3.1 Imerys Group
  14.3.2 Milliken & Company Inc.
  14.3.3 PCI Augsburg GMBH
  14.3.4 Rocla
  14.3.5 Wagners
  14.3.6 Universal Enterprise
  14.3.7 Schlumberger Ltd
  14.3.8 Murray & Roberts Cementation Co. Ltd
  14.3.9 Banah UK Ltd
  14.3.10 Zeobond Pty Ltd
  14.3.11 Uretek
  14.3.12 BASF
  14.3.13 Corning Inc.
  14.3.14 Nu-Core
  14.3.15 Pyromeral Systems
  14.3.16 Airbus

LIST OF TABLES

Table 1: Global: Geopolymer Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Geopolymer Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 3: Global: Geopolymer Market Forecast: Breakup by End-Use Industry (in Million US$), 2024-2032
Table 4: Global: Geopolymer Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 5: Geopolymer: Raw Material Requirements
Table 6: Global: Geopolymer Market Structure
Table 7: Global: Geopolymer Market: Key Players

LIST OF FIGURES

Figure 1: Global: Geopolymer Market: Major Drivers and Challenges
Figure 2: Global: Geopolymer Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Geopolymer Market: Breakup by Application (in %), 2023
Figure 4: Global: Geopolymer Market: Breakup by End-Use Industry (in %), 2023
Figure 5: Global: Geopolymer Market: Breakup by Region (in %), 2023
Figure 6: Global: Geopolymer Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 7: Global: Geopolymer Industry: SWOT Analysi
Figure 8: Global: Geopolymer Industry: Value Chain Analysis
Figure 9: Global: Geopolymer Industry: Porter’s Five Forces Analysis
Figure 10: Global: Geopolymer (Cement and Concrete) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Geopolymer (Cement and Concrete) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Geopolymer (Furnace and Reactor Insulators) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Geopolymer (Furnace and Reactor Insulators) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Geopolymer (Composites) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Geopolymer (Composites) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Geopolymer (Decorative Artifacts) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Geopolymer (Decorative Artifacts) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Geopolymer (Building Construction) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Geopolymer (Building Construction) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Geopolymer (Infrastructure) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Geopolymer (Infrastructure) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Geopolymer (Industrial) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Geopolymer (Industrial) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Geopolymer (Art and Decoration) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Geopolymer (Art and Decoration) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Geopolymer (Others) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Geopolymer (Others) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Asia Pacific: Geopolymer Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Asia Pacific: Geopolymer Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Europe: Geopolymer Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Europe: Geopolymer Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: North America: Geopolymer Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: North America: Geopolymer Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Middle East and Africa: Geopolymer Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Middle East and Africa: Geopolymer Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Latin America: Geopolymer Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Latin America: Geopolymer Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Geopolymer Manufacturing: Process Flow


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