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 expansion observed in the historical period can be attributed to environmental sustainability, government regulations and standards, the demand for high-performance materials, awareness and education, and 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 anticipated growth in the forecast period can be attributed to rising trends in the construction industry, advancements in manufacturing processes, global urbanization and infrastructure projects, increased industry collaboration, and research and development initiatives. Major trends expected in the forecast period include the use of geopolymers in sustainable packaging, integration in the aerospace industry, standardization and certification initiatives, the application of geopolymer concrete in seismic-prone regions, and market expansion in developing economies.

The anticipated increase in construction activities is expected to drive the growth of the geopolymer market in the future. Construction, encompassing the processes of building, renovating, and repairing public or private structures, is a key driver for the demand in geopolymer materials. Geopolymers, formed through alkali activation of aluminosilicates, hold potential applications in various building materials, such as concrete manufacturing and soil stabilization. Notably, a January 2023 report from the UK's Office for National Statistics indicated a 3.1% increase in construction output in November 2022, amounting to $551.56 million (£452 million), compared to February 2020. Additionally, repair and maintenance work saw a 15.5% rise, reaching $949.37 million (£778 million) higher than February 2020. Consequently, the surge in construction activities is a driving force for the geopolymer market.

The anticipated growth in infrastructure development is poised to drive the expansion of the geopolymer market in the foreseeable future. Infrastructure development involves the construction and enhancement of fundamental physical systems and facilities serving a country, city, or region, such as transportation, power plants, water and sanitation systems, schools, and communication networks. The rising demand for advanced and durable building materials such as geopolymers is attributed to the global growth in infrastructure, particularly in emerging nations. These materials, known for their strength and chemical resistance, find valuable applications in numerous infrastructure projects. For instance, in 2022, the Bureau of Transportation Statistics reported that the net value of transportation infrastructure and assets, classified as transportation capital stock, reached $10.68 trillion. This represented a 6.5% increase from 2021 to 2022, highlighting the significant role of rising infrastructure development in propelling the geopolymer market.

Key players in the geopolymer market are actively developing innovative technologies, including low-carbon alternatives for well construction cement. A low-carbon alternative involves materials or energy sources that emit fewer greenhouse gases than conventional fossil fuels such as coal, oil, and natural gas. Schlumberger NV, a global technology company based in the United States, introduced EcoShield in June 2023 - an industry-first geopolymer technology that can reduce up to 85 percent of embodied CO2 emissions. This revolutionary cement-free system, utilizing industrial waste streams and locally sourced natural materials, can prevent up to 5 million metric tons of CO2 emissions annually. EcoShield offers a more environmentally friendly well-integrity solution, applicable to various field scenarios, including corrosive environments and different stages of the well life cycle.

Key players in the geopolymer market are strategically emphasizing collaborations through partnerships to deliver reliable services to their customers. A strategic partnership denotes an arrangement where two or more companies or organizations work together to achieve their respective goals. For instance, in December 2023, Betolar PLC, a Finland-based building material company, collaborated with Fujairah Concrete Products, a UAE-based concrete product manufacturer. This strategic partnership introduced low-carbon concrete paving products, contributing to the industry's sustainability goals. By utilizing industrial side streams instead of cement in production, these innovative products significantly reduce the CO2 footprint compared to conventional cement-based paving stones. This aligns with the growing interest in sustainable and environmentally friendly construction materials.

In February 2022, Inland Pipe Rehabilitation, a privately held trenchless solutions provider based in the United States, acquired Inliner in an undisclosed deal. This acquisition bolsters IPR's capabilities and service solutions while expanding its presence across North America. The merger of IPR and Inliner aims to fortify both entities, offering customers an unparalleled breadth and depth of services within the industry. Inliner, headquartered in Georgia, is a leading provider of trenchless pipe rehabilitation solutions, specializing in heat-cured and UV-based cured-in-place-pipe (CIPP) geopolymer rehabilitation, manhole renewal, and construction management services.

Major companies operating in the geopolymer market report are BASF SE, The Dow Chemical Company, Schlumberger Ltd., Schlumberger Limited, CEMEX S.A.B. de C.V., Corning Inc., Sika AG, Imerys Group SA, Rocla Pty Limited, Murray & Roberts Cementation Co. Ltd., NMAD Ltd., Wagners LLC, Fengyuan Chemical Co., Ltd., Inland Pipe Rehabilitation Inc., Alchemy Geopolymer, Technische Universiteit Delft, Clock Spring Co Inc., PCI Augsburg GmbH, Ecocem Materials Ltd., Pyromeral Systems SA, Zeobond Pty Ltd., Metna Co., Ltd., CeraTech USA LLC, Banah UK Ltd., Geopolymer Solutions LLC, Miliken & Company Inc., České lupkové závody AS, RENCA LIMITED, University of Sheffield, Crystalactor.

Asia-Pacific was the largest region in the geopolymer market in 2023. Western Europe is expected to be the fastest-growing region in the global geopolymer market during the forecast period. The regions covered in the geopolymer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the geopolymer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Geopolymers can be classified into main types such as geopolymer concrete, geopolymer binders, and others. Geopolymer concrete is an innovative material characterized by extended chains or networks of inorganic molecules, offering an alternative to traditional Portland cement concrete in the construction of transportation infrastructure. These find applications in various sectors, including cement and concrete, furnace and reactor insulation, composites, decorative artifacts, and are utilized by diverse end-users such as transportation infrastructure, building construction, industrial, art and decoration, offshore, and others.

The geopolymers market research report is one of a series of new reports that provides geopolymers market statistics, including geo polymers industry global market size, regional shares, competitors with a geopolymers market share, detailed geo polymers market segments, market trends and opportunities, and any further data you may need to thrive in the geopolymers industry. This geopolymers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The geopolymer market consists of sales of alumino-silicate minerals such as kaolinite, feldspar, and various industrial wastes, and alkaline activators such as sodium hydroxide, potassium hydroxide, sodium silicate, and potassium silicate. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.