Global Geopolymer Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Product (Geopolymer Concrete, Geopolymer Binder, Others), By End-User (Transportation Infrastructure, Construction, Offshore, Others), And By Geography - Forecasts From 2021 To 2026
- Published : Feb 2022
- Report Code : KSI061610843
- Pages : 128
The global geopolymer market is projected to grow at a CAGR of 29.84% during the forecast period to reach US$40.008 billion by 2026, from US$6.431 billion in 2019. Geopolymers are inorganic ceramic materials that create a non-crystalline network over a long distance. Geopolymers are becoming more popular because of their strong heat and fire resistance. Furthermore, the worldwide geopolymer market is being driven by rising infrastructure construction, particularly in emerging nations. They are also used in the civil infrastructure, oil and gas, and chemical industries to repair bridges, tunnels, and highways, as well as the rehabilitation of pipes and buildings. Additionally, the market's growth is being aided by the increasing use of geopolymer.
The increasing geopolymer usage across various sectors, due to its heat and fire resilience, is expected to propel the overall market forward in the coming years.
Geopolymers play an important function in the construction sector. Large amounts of greenhouse gases are discharged into the atmosphere as a result of quickly rising construction activity, owing to the world's rapidly growing population. This has a major environmental impact. With the growing influence of greenhouse gases on the environment released either during cement production or in other ways, the total during construction of building materials has allowed the development and usage of geopolymers, which is boosting market demand. In addition, the growth in construction activities is also anticipated to aid in the market expansion during the forecast period. For instance, the construction sector in the United Kingdom performed better than anticipated in the first half of 2021, according to statistics from the Office for National Statistics (ONS), which shows that the industry grew by 20.4 percent year on year (YoY) during the first half of 2021. Geopolymer has gotten a lot of interest in recent years as a substitute for Ordinary Portland Cement (OPC) and lime in the stabilization of soil and other uses for sidewalks, bridges, and other transportation constructions. In addition, the increased investments by governments around the world in the transportation segment are also likely to increase the growth of the global geopolymer market. For example, the government of Canada has planned to invest more than $180 billion in public transit projects, green infrastructure, social infrastructure, commerce and transportation networks, and Canada's rural and northern communities through the 'Investing in Canada' infrastructure plan over the next 12 years.
The market is also influenced by the increased adoption of numerous benefits such as high resilience, low creep, acid resistance, ultra-porosity, low drying contraction, and usage in the oil and gas, civil infrastructure, and chemical industries for rebuilding bridges, tunnels, roads, and pipe and structure rehabilitation. The growing focus on sustainability and environmental concerns are also boosting the market growth. Geopolymer concrete, an alternative to Portland-based concrete, employs waste elements from industrial mining and power plants, resulting in a cleaner environment. This is accomplished by encapsulating these waste materials within the cement, which would otherwise have to be disposed of, posing an environmental risk. For instance, in June 2021, Snohetta and Saferock, a Norwegian startup, developed geopolymer concrete that reduces carbon emissions by over 70%. Saferock's unique technique, which is based on the massive volume of industrial wastes generated worldwide, will give these by-products a new lease of life.
By region, the Asia Pacific is anticipated to witness the fastest growth in the global geopolymer market during the forecast period.
The Asia Pacific region is expected to hold a considerable share due to the increased demand from the end-user industries. Rising investments by major economies in the region such as India and China are also expected to fuel the market growth during the forecast period. For instance, according to the Civil Aviation Administration of China (CAAC), the country has opened 12 new airports and is working on a 13th airport in Shaanxi province. In addition, the country has enlarged the runway at Zhangjiakou Ningyuan Airport, increasing the airport's capacity from 600,000 to one million passengers per year. This is a critical airport for the 2022 Beijing Winter Olympics. Additionally, to boost regional economies, China wants to enhance the entire length of its national expressway system by 47 percent by 2035. At the end of 2019, the central government's expressways reached 108,600 kilometers. According to the Ministry of Transportation, this will be increased to 160,000 km. Furthermore, in India, between April 2000 and June 2021, FDIs in the construction development industry and construction activities totaled US$ 26.14 billion and US$ 25.38 billion, respectively, according to the Department for Promotion of Industry and Internal Trade (DPIIT). Infrastructure activities received 13 percent of the overall FDI inflows of US$ 81.72 billion in FY21.
Because of the interruptions generated by end-user industries around the world, the introduction of COVID-19 had a negative influence on the geopolymer business. The construction industry was one of the most hit, with ongoing projects halted and all new projects postponed due to a shortage of workers and government-imposed rigorous standards aimed at preventing the spread of the disease by the year 2020. Demand for geopolymers is predicted to recover in the next years as industries begin to recover beginning in the third quarter of 2021.
Global Geopolymer Market Scope:
|Market size value in 2019||US$6.431 billion|
|Market size value in 2026||US$40.008 billion|
|Growth Rate||CAGR of 29.84% from 2019 to 2026|
|Forecast Unit (Value)||USD Billion|
|Segments covered||Product, End-User, And Geography|
|Regions covered||North America, South America, Europe, Middle East and Africa, Asia Pacific|
|Companies covered||3M, NITTO DENKO CORPORATION, Avery Dennison Corporation, tesa SE, Intertape Polymer Group, Shurtape Technologies LLC, LINTEC Corporation|
|Customization scope||Free report customization with purchase|
- By Product
- Geopolymer Concrete
- Geopolymer Binder
- By End-user
- Transportation Infrastructure
- By Geography
- North America
- South America
- Middle East & Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
Frequently Asked Questions (FAQs)
Q1. What is the size of the global geopolymer market?
A1. Geopolymer market was valued at US$6.431 billion in 2019.
Q2. What are the growth prospects for geopolymer market?
A2. The global geopolymer market is projected to grow at a CAGR of 29.84% during the forecast period.
Q3. What will be the geopolymer market size by 2026?
A3. The geopolymer market is projected to reach a total market size of US$40.008 billion by 2026.
Q4. What factors are anticipated to drive the geopolymer market growth?
A4. The rapid infrastructure development, more specifically in the emerging economies, is driving the growth of the global geopolymer market.
Q5. How is the global geopolymer market segmented?
A5. The global geopolymer market has been segmented by product, end-user, and geography.
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of End-Users
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. Geopolymer Market Analysis, by Product
5.2. Geopolymer Concrete
5.3. Geopolymer Binder
6. Geopolymer Market Analysis, by End-user
6.2. Transportation Infrastructure
7. Geopolymer Market Analysis, by Geography
7.2. North America
7.3. South America
7.5. Middle East and Africa
7.5.1. Saudi Arabia
7.6. Asia Pacific
7.6.4. South Korea
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. Banah UK Ltd
9.2. CEMEX SAB de CV
9.3. ?eských Lupkových Závodech AS
9.5. Geopolymer Solutions LLC
9.7. Murray & Roberts
9.8. PCI Augsburg GMBH
9.9. Rocla Pty Limited
9.10. Schlumberger Limited
NITTO DENKO CORPORATION
Avery Dennison Corporation
Intertape Polymer Group
Shurtape Technologies LLC
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