The Geopolymer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Geopolymer Global Market Report 2024, The geopolymer market size has grown exponentially in recent years. It will grow from $9.77 billion in 2023 to $12.34 billion in 2024 at a compound annual growth rate (CAGR) of 26.3%. The growth in the historic period can be attributed to environmental sustainability, government regulations and standards, demand for high-performance materials, awareness and education, infrastructure development.
The geopolymer market size is expected to see exponential growth in the next few years. It will grow to $32.17 billion in 2028 at a compound annual growth rate (CAGR) of 27.1%. The growth in the forecast period can be attributed to rising construction industry trends, advancements in manufacturing processes, global urbanization and infrastructure projects, increased industry collaboration, research and development initiatives. Major trends in the forecast period include geopolymers in sustainable packaging, integration in the aerospace industry, standardization and certification initiatives, geopolymer concrete in seismic-prone regions, market expansion in developing economies.
The growth in construction activities is expected to propel the growth of the geopolymer market going forward. The process of constructing, renovating, and repairing any public or private structure is referred to as construction. Geopolymers are inorganic materials formed when aluminosilicates are alkali-activated, these aluminosilicate source materials can exist naturally or be generated industrially, and they have potential use in building materials (for example, in concrete manufacturing and soil stabilization). For instance, in January 2023, according to a report published by the Office for National Statistics, a UK-based executive office of the UK Statistics Authority, the level of construction output produced in November 2022 was 3.1%, or $551.56 million (£452 million), higher as compared to February 2020, while repair and maintenance work was 15.5%, or $949.37 million (£778 million), higher than February 2020. Therefore, growth in construction activities drives the geopolymer market.
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The geopolymer market covered in this report is segmented –
1) By Product: Geopolymer Concrete, Geopolymer Binders, Other Products
2) By Application: Cement And Concrete, Furnace And Reactor Insulators, Composites, Decorative Artifacts
3) By End-User: Transportation Infrastructure, Building Construction, Infrastructure, Industrial, Art And Decoration, Offshore, Other End-Users
Major companies operating in the geopolymer market are focusing on strategic partnerships to provide reliable services to customers. A strategic partnership is an arrangement between two or more companies or organizations that helps each other or works together to achieve their respective goals. For instance, in December 2023, Betolar Plc, a Finland-based building material company, partnered with Fujairah Concrete Products, a UAE-based company that manufactures concrete products. This partnership introduced low-carbon concrete paving products and helped the industry reach its sustainability goals. Since the production does not use cement but industrial side streams, the use of new products significantly reduces the CO2 footprint compared to ordinary cement-based paving stones. This initiative aligns with the growing int interest in sustainable and environmentally friendly construction materials.
The geopolymer market report table of contents includes:
1. Executive Summary
2. Geopolymer Market Characteristics
3. Geopolymer Market Trends And Strategies
4. Geopolymer Market – Macro Economic Scenario
5. Global Geopolymer Market Size and Growth
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26. South America Geopolymer Market
27. Brazil Geopolymer Market
28. Middle East Geopolymer Market
29. Africa Geopolymer Market
30. Geopolymer Market Competitive Landscape And Company Profiles
Top Major Players:
- BASF SE
- The Dow Chemical Company
- Schlumberger Ltd
- Schlumberger Limited
- CEMEX S.A.B. de C.V.
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