Geopolymers are alumino-silicate materials that are synthesized when a precursor material containing silicon (Si) and aluminium (Al) reacts chemically with an alkaline hydroxide solution. Geopolymers are used as an alternative to portland cement in the construction industry due to their exceptional strength and fire resistance properties along with having relatively low CO2 emissions during manufacturing. Geopolymer concrete exhibits higher compressive strength than conventional concrete and retains its strength even at elevated temperatures of up to 1000°C. These advantages have resulted in growing application of geopolymers in the construction of industrial floors, repairing structures, fire doors, pipes, tanks, waste containment and encapsulation.

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 key trends:

One of the major trends in the geopolymer market is the rising adoption in precast construction. Geopolymer concrete is increasingly being used to manufacture precast construction products such as pipes, sewerage systems, utility vaults, etc due to its high early strength gain. This enables faster construction cycles. Geopolymers also provide manufacturing advantages over traditional cement such as faster curing at ambient temperature conditions. Leading precast concrete manufacturers are incorporating geopolymer binders in their product portfolio to cater to the increasing demand from infrastructure projects globally.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate as building a geopolymer production facility requires high capital investment. However, switching over from traditional cement production to geopolymer is an opportunity for some cement companies.

Bargaining power of buyers: The bargaining power of buyers is high as geopolymers are a substitute for traditional cement and buyers can easily switch between suppliers based on price and quality.

Bargaining power of suppliers: The bargaining power of suppliers is moderate as the raw materials required for geopolymer production such as fly ash, slag, and alkaline liquids have few substitutes and suppliers. However, alternative materials and supply sources keep the power in check.

Threat of new substitutes: The threat of new substitutes is low as no major substitute for geopolymers is available in the construction industry currently. Geopolymers provide an environmental-friendly and high-performance alternative to cement and concrete.

Competitive rivalry: The competitive rivalry is high due to the presence of numerous regional and global players offering price-competitive geopolymer products. Players compete on performance, properties, sustainability, and pricing of their products.

Key Takeaways

The Global Geopolymer Market Demand  is expected to witness high growth over the forecast period supported by increasing construction activities worldwide and growing environmental concerns. 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.

The Asia Pacific region currently dominates the geopolymer market owing to high construction activities and availability of raw materials in countries like China and India. Stringent environmental regulations regarding industrial emissions are further driving the adoption of geopolymers in the region.

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, and Pyromeral Systems. Major players are focusing on capacity expansions and new product launches catering to niche construction applications to gain market share. Collaboration with construction giants is another strategic focus.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it