According to the latest report by IMARC Group titled, “Geopolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market reached a value of US$ 3.8 Billion in 2018. Looking forward, the market is expected to reach a value of US$ 16.2 Billion by 2024, growing at a CAGR of 27% during 2019-2024.
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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.
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.
Breakup by Application:
• Cement and Concrete
• Furnace and Reactor Insulators
• Decorative Artifacts
Breakup by End-Use Industry:
• Building Construction
• Art and Decoration
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• North America
• Asia Pacific
• Middle East and Africa
• Latin America
The report has also examined the competitive landscape of global geopolymer market. Some of the major players in the market are Imerys Group / Ags Argil's & Minéraux, Milliken & Company Inc., PCI Augsburg GMBH, DowDuPont, 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.
Key highlights of the report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Competitive Structure
• Profiles of Key Players