According to IMARC Group latest published report, The global geopolymer market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market 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.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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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.
Competitive Scenario with Key Players:
The competitive landscape of the market has also been analyzed, with some of the key players being IMERYS (NK.PA), Milliken & Company Inc., PCI Augsburg GmbH (Basf), DuPont de Nemours, Inc. (DD), Rocla, WAGNERS FPO (WGN.AX), Universal Corporation’s (NYSE:UVV), Schlumberger Ltd., Murray & Roberts Cementation Co. Ltd., Banah UK Ltd., Zeobond Pty Ltd., Uretek, BASF SE (BASFY), Corning Incorporated (GLW), Nu-Core, Pyromeral Systems and Airbus.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/geopolymer-market
The report cover the below key market segments:
Market Segmentation by Application:
• Cement and Concrete
• Furnace and Reactor Insulators
• Composites
• Decorative Artifacts
Market Segmentation by End-Use Industry:
• Building Construction
• Infrastructure
• Industrial
• Art and Decoration
• Others
Market Segmentation by Region:
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America
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