The global geopolymer market is expected to display higher growth rate over the next five years. Rapid surge in the geopolymer market is attributed to the growing demand for heat insulating material from building & construction sector. Geopolymers are artificially created, due to which they form long-range covalent bonds and mostly non-crystalline in nature. Most of geopolymers are typically ceramic in nature with amorphous networks. Few geopolymers are naturally occurring such as obsidian. Globally, the market is predicted to generate massive revenue over next five years, providing numerous opportunities for market players to invest for research and development in the geopolymer market.
Growing demand for geopolymer from construction sector is credited to its unique properties such as rapid setting fill, easy to use and lower cost. Geopolymers offer rapid setting fill in comparison with other chemical compounds that expands in to holes and crack. Geopolymer is ideal choice during the repair and rehabilitation procedures. These factors are anticipated to fuel the growth of the market over the forecast period. Geopolymers are gaining traction in several construction activities such as rehabilitation of pipes and structures in public infrastructure sector. Growing demand for geopolymers from gas & oil and chemical industries due to high strength and ultra-low porosity of the materials. Other applications of geopolymer include repair tunnels, bridges, roads, rehab buildings, and containment.
Current development in commercial as well as residential housing sector is key trend supporting market growth in the past few years. Rapid industrialization coupled with rising infrastructural spending are expected to offer several growth prospects for new market entrants over the coming years. Increasing infrastructural activities in developing economies such as India, China and Brazil is fostering market demand for geopolymers in the recent years. Other factors responsible for rapid market growth include increasing the geographical footprint and growing number of production units. Different types of geopolymers available in the market include polymer concrete and binder.
The market is broadly categorized into three major segments based on the application type such as transportation sector, building & construction industry and offshore sector. The building & construction segment is growing rapidly in the geopolymer market with substantial revenue generation in the last few years. Growing popularity of geopolymers in the building & construction segment is attributed to unique properties of geopolymers such rapid setting fill, easy to use and lower cost. The transportation sector segment has also witnessed substantial growth owing to the rising infrastructural spending by local governments.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest techniques in building & construction industry, surge in number of research & development activities in the region and existence of well-established industrial infrastructure.
Asia-Pacific region is estimated to hold major share in the geopolymer market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, rising infrastructural spending, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the geopolymer market are Accumetric LLC, Advanced Technical Resources Industries Pvt., Ltd., Alchemy Geopolymer Solutions LLC, Allied Foam Tech Co., Ask Chemicals GmbH, Banah Ltd., BPS Engineering GmbH, Calera Co., Calstar Products, Inc., and Ceramatec, Inc.
Research Support Specialist, USA