Geopolymer Is Estimated To Witness High Growth Owing To Sustainable Construction Materials
Geopolymer is an inorganic polymeric material consisting of alumino-silicate minerals. It is used in making concrete, cement, and other construction materials. Being eco-friendly in nature, geopolymer helps reduce carbon emissions associated with Portland cement production. It utilizes industrial by-products such as fly ash and slag rather than traditional limestone. This provides an economically viable and environmentally sustainable alternative to ordinary Portland cement.
The global Geopolymer Market is estimated to be valued at Us$ 9.8 Bn in 2023 and is expected to exhibit a CAGR Of 6.2% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Growth in construction activities across the globe owing to rapid urbanization and industrialization is propelling the demand for sustainable construction materials including geopolymer. Moreover, growing environmental concerns regarding carbon emissions from cement industry is further fuelling the adoption of geopolymer. According to statistics, cement production accounts for around 7–8% of global anthropogenic CO2 emissions. This has increased focus on low-carbon alternatives like geopolymer. Additionally, favorable government policies and regulations promoting greener construction are also driving the geopolymer market. For instance, in the European Union, regulatory frameworks such as EU Emissions Trading Scheme discourage the use of Portland cement.
SWOT Analysis
Strength: Geopolymer has high strength and durability. It has lower carbon footprint as compared to traditional cement. Geopolymer production requires significantly lower energy and raw materials. Geopolymer concrete is resistant to fire, chemicals, corrosion and aggressive environments.
Weakness: Limited experience and knowledge about its performance over the long term. Initial set time of geopolymer concrete is more compared to ordinary Portland cement concrete. Curing process requires more care and monitoring compared to traditional cement.
Opportunity: With growing environmental concerns, the demand for sustainable construction material is increasing globally. The market for green buildings and infrastructure is growing rapidly which increases the opportunity for geopolymer market. Strict government regulations to reduce CO2 emissions will further drive the adoption of geopolymer concrete.
Threats: Established infrastructure of traditional cement industry poses threat in terms of distribution and marketing capabilities. Availability of low cost substitutes like fly ash poses threat. Fluctuations in raw material prices can increase the cost of geopolymer.
Key Takeaways
The Global Geopolymer Market Demand is expected to witness high growth over the forecast period supported by rising environmental awareness and stringent regulation on CO2 emissions. Geopolymer concrete has much less carbon footprint compared to traditional cement and offers opportunities for sustainable construction. The global geopolymer market is estimated to be valued at US$ 9.8 Bn in 2024 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030.
Regional analysis :
The Asia Pacific region currently dominates the global geopolymer market and is expected to maintain its leading position during forecast period. Countries like Australia, India and Philippines are pioneering in research and development of geopolymer technology. Government initiatives to promote sustainable infrastructure development will drive the geopolymer market in Asia Pacific region.
Europe is the second largest and fastest growing regional market supported by strict environmental regulations. Countries like France, UK and Germany are major consumers of geopolymer concrete in infrastructure and construction projects.
North America also presents significant growth opportunities driven by increasing green building construction. Major application of geopolymer in the region includes repairing and strengthening of structures.
Key players related content comprises: Key players operating in the geopolymer market are 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 and Airbus.
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https://www.insightprobing.com/the-geopolymer-market-is-estimated-to-driven-by-rising-construction-activities-globally/
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