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.
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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.
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