The global reached US$5 Billion in 2021. Looking forward, the market expects to reach US$15.8 Billion by 2027, exhibiting at a CAGR of 21.5% during 2022-2027, according to IMARC Group.
| Report Metric |
| Historical: 2015-2020 |
| Base Year: 2020 |
| Forecast Year: 2021-2026 |
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Geopolymers are materials comprising chains or networks of mineral molecules that are linked with covalent bonds. They can be both natural and synthesized. Obsidian (volcanic glass) fragments are the major component of natural geopolymer blends. Commercially produced geopolymers can be formed by using industrial waste as raw material. They can be used in applications to fully or partially replace ordinary Portland cement (OPC) with added benefits such as improved resistance to fire, heat and aggressive chemicals as well as a significant reduction in carbon footprint. As a result, geopolymers are replacing OPC in several construction applications.
Market Trends and Drivers
The global geopolymer market is currently witnessing robust growth which can be accredited to the significant expansion of the construction industry. Rapidly increasing population, economic reforms and urbanization, especially in the developing countries, have resulted in infrastructural development, thus catalyzing the market growth. In addition, the repair and rehabilitation activities in the construction industry have also stimulated the market.
Moreover, apart from being an affordable option, the manufacturing process of geopolymers is less energy-intensive and emits lesser carbon dioxide than that of OPC. With increasing environmental concerns and emission restrictions on the cement industry, the demand for geopolymers is witnessing a rise, thus further contributing to the market growth.
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.
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Breakup by Application:
- Cement and Concrete
- Furnace and Reactor Insulators
- Composites
- Decorative Artifacts
Breakup by End-Use Industry:
- Building Construction
- Infrastructure
- Industrial
- Art and Decoration
- Others
Breakup by Region:
- Asia-Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
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