"Geopolymer Market Estimated To Witness High Growth Owing To Increasing Construction Activities"
Geopolymers are inorganic aluminosilicate polymers that are formed via alkali activation of materials containing silicon and aluminum. They are usually produced from aluminosilicate materials such as fly ash and calcium-rich materials such as slag. Geopolymers are gaining popularity as sustainable and eco-friendly alternative to Portland cement in construction applications. They offer advantages such as lower CO2 emissions, higher strength and durability compared to traditional cement. Geopolymers find widespread usage in construction of buildings, roads, bridges etc. The global geopolymer market is estimated to be valued at US$ 9.8 Bn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the key drivers augmenting the geopolymer market growth is increasing construction activities across both commercial and residential sectors globally. Rapid urbanization, population growth and economic development in emerging economies are propelling the demand for new buildings, infrastructure and housing. Further, stringent regulations regarding greenhouse gas emissions from cement industry is also favoring adoption of geopolymer as a sustainable cement alternative. Geopolymers release 80% lesser CO2 during production compared to Portland cement. The rising awareness about environmental protection and sustainability is compelling construction players to opt for greener building materials like geopolymers. Focus on sustainable construction driven by green building standards and initiatives will continue accentuating market growth over the forecast period.
SWOT Analysis
Strength: Geopolymer cement has three main strengths- it has lower carbon footprint than ordinary Portland cement as it emits less CO2 during production; it is more durable and has higher compressive strength than Portland cement; it utilizes industrial by-products such as fly ash and reduces landfill waste.
Weakness: Geopolymer cement has two main weaknesses- the exact chemistry of geopolymerization is still being researched and is not fully understood; the material is relatively new and lacks the established track record and familiarity of Portland cement.
Opportunity: There are two key opportunities for geopolymer cement - Growing construction industry worldwide is expected to boost demand for greener and more sustainable cement alternatives; Strict emission regulations being implemented by various governments worldwide will drive replacement of Portland cement with environment-friendly geopolymer cement.
Threats: Supply chain disruptions due to pandemic may impact raw material availability and price volatility; Substitutes such as calcium sulfoaluminate cement may emerge as stronger alternatives.
Key Takeaways
The Global Geopolymer Market is expected to witness high growth over the forecast period of 2023 to 2030. Regional analysis reveals that the Asia Pacific region currently dominates the market and is expected to retain its leading position throughout the forecast period due to rapid industrialization and infrastructure growth in countries like China and India. The region is estimated to account for over 40% share of the overall geopolymer market by 2030. The Latin American region is poised to offer lucrative opportunities owing to upcoming mega construction projects plans across Brazil, Mexico and other countries.
Key players operating in the geopolymer market are RANplan Wireless Network Design Ltd, Comarch SA, Siterra Corporation (Accruent), Fulcrum, Amdocs, Atoll Solutions (Forsk), Wireless Network Infrastructure Management (WNIM) by Excelacom, C-Net, Bentley Systems, WebNMS (Zoho Corporation), Tower Cloud, RUCKUS Analytics (Commscope), GenieACS, Netadmin Systems AB, NMSaaS (Network Management Services as a Service). Rising investments in R&D of advanced geopolymer formulations by major players along with capacity expansion initiatives are expected to further aid business growth over the coming years.
Get more insights on this topic: https://www.newswirestats.com/geopolymer-market-size-and-share-analysis-growth-trends-and-forecasts-2023-2030/
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