Geopolymers Market to grow at a CAGR of 25.57% during 2024-2028
The Geopolymers Market is expected to grow at a CAGR of 25.57% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 12.86 billion. In the construction sector, the trend towards green buildings is gathering momentum. These structures not only contribute positively to the environment and help mitigate climate change, but they also minimize or eliminate harmful impacts through design, manufacturing, and operation. Sustainable, ethical, and non-toxic materials are prioritized in their construction. Geopolymer concrete, made from industrial by-products like fly ash from thermal power plants and ground granulated blast furnace slag from iron production, is a prime example of an eco-friendly building material. By using geopolymer concrete, carbon dioxide emissions are significantly reduced by approximately 80%. Given its commitment to sustainability, geopolymer concrete is increasingly becoming a crucial component in the development of green buildings.
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Technavio analysts predict that the Cement and concrete subsegment will lead the Product segment during 2024 and 2028 In the construction industry, ordinary cement, or ordinary Portland cement (OPC), is an essential inorganic binding material recognized for its superior bonding properties. When combined with water, sand, gravel, and other construction elements, cement transforms into a robust, rock-like substance due to its unique blend of minerals. Cement plays a pivotal role in developing economies, serving as a primary component in concrete production for the construction of buildings, civil infrastructure, and industrial facilities. With a substantial production volume and forecasted growth, cement's manufacturing process is cost-intensive, particularly due to the long-distance transportation requirements.
Here are the various ways based on which the market is segmented:
Key Companies and Market Insights
Some of the key companies in the Geopolymers Market include:
There are several factors that are causing the market to flourish increase in adoption of geopolymers in cement industry
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The Geopolymer market is gaining significant attention due to its eco-friendly properties compared to conventional cement. Geopolymers are mineral-based materials made from aluminosilicate sources like slag, industrial by-products, and fly ash (FA), which are mixed with an alkaline solution to undergo a chemical process without the need for burning fuel. This results in a lower carbon footprint, making it an attractive alternative to traditional cement. Geopolymers offer several advantages over conventional cement, including resistance to fire and improved mechanical properties. These properties make them an ideal choice for various applications, such as grout and binders for precast panels and concrete. The use of industrial by-products like FA in the production of geopolymers also helps reduce pollutants and dust emissions from the cement industry. Moreover, the production of geopolymers generates fewer greenhouse gases compared to the production of conventional cement. Geopolymers are increasingly being used in the construction industry for various applications, including the production of 5G base stations. The market for geopolymer materials is expected to grow significantly in the coming years due to their environmental benefits and superior properties.
In accordance with Technavio's market research, the global geopolymers market is classified as a segment of the expansive specialty chemicals industry. This market encompasses businesses and products involved in the production of high-value-added chemicals utilized in the manufacturing process of a diverse range of items, including, but not limited to, fine chemicals, additives, advanced polymers, adhesives, sealants, specialty paints, pigments, and coatings. The specialty chemicals market's size is determined by the consolidated revenue generated by manufacturers specializing in high-value-added chemicals. Factors propelling the growth of the global specialty chemicals market include the increasing preference for specialty adhesives and sealants, driven by the expanding demand for these products across various industries.
The Geopolymers Market is experiencing significant growth, fueled by the increase in adoption of geopolymers in cement industry. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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