As per the latest report by IMARC Group, titled “Geopolymer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global geopolymer market size reached US$ 3.8 Billion in 2018. 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.
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Global Geopolymer Market Trends:
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. Looking forward, the market is projected to reach a value of US$ 16.2 Billion by 2024, expanding at a CAGR of around 27% during 2019-2024.
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Market Summary:
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