Global Geopolymer Concrete Market Expected to Reach USD 67,732.3 Million by 2031

According to a recent market study published by Growth Market Reports, titled, “Global Geopolymer Concrete Market, By Type, By Application, By Distribution Channel, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 11,163.6 million in 2022 and is expected to expand at a growth rate of 22.4% by 2031.

According to the Growth Market Reports industry analyst, the global geopolymer concrete market is anticipated to register significant growth during the forecast period, 2022-2031. Rising demand for industrial waste management is driving the market. Increasing demand for green buildings is supporting the market growth.

Geopolymer cement concrete is made from the utilization of waste materials such as fly ash and ground granulated blast furnace slag (GGBS). Fly ash is the waste product generated from thermal power plants and ground granulate blast furnace slag is generated as waste material in steel plants. Both fly ash and GGBS are processed by appropriate technology and used for concrete works in the form of geopolymer concrete. The use of this concrete reduces the stock of wastes and carbon emissions by reducing the demand for Portland cement. The major constituents of geopolymer concrete are aluminum and silicon, which are provided by industrial byproducts such as fly ash or slag or thermally activated natural materials such as kaolinite and an alkaline activating solution that polymerizes these materials into molecular chains and networks to form a hardened binder. It is also called inorganic polymer cement or alkali-activated cement.

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Primary and secondary research methodology is used for keen observation and study of the global geopolymer concrete market. Primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information about the syndicated as well as consulting projects. Primary interviews are conducted with stakeholders across the industry verticals at regular intervals in line with the ongoing studies and to be updated with the latest market trends & developments. Validation of the estimated market size and current & future trends is done by the key opinion leaders (KOLs). These KOLs are the CXO level people from key companies in the industry and possess experience of around 10-20 years in the industry. The secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights, and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports, and investor presentations are scanned to understand the competitive scenario, details & developments, and the overall competitive landscape. Regional government and statistical databases are analyzed for macro & micro analysis. Research publications and paid data are referred to obtain and validate the market estimations, budget, expenditure, and other statistical insights.

The COVID-19 pandemic has highlighted economic disparities in the global demand in the crisis of global interdependence and governance challenges. Pandemics are isolated concerns for businesses and prospects for emerging patterns and vulnerabilities. Strict measures are required for monitoring the pandemic, which affected businesses and caused unanticipated short and long-term effects. Consequently, pandemics are problems for the individual market and an enhancement of existing dynamics and limitations. In the long-term, COVID-19 serves as an opportunity for manufacturers to reconsider their commitment to the supply chain in regions prone to outbreaks and to reconfigure themselves regionally. In the present scenario, COVID-19 is hampering the production process of several manufacturing industries and businesses. Moreover, trade barriers are further reducing the demand-supply of various products and services. However, the reduction in outdoor activities and social distancing has created lucrative opportunities for the market.

Key Takeaways from the Study:

• Key market players include Kuttuva Silicates Private Limited, CEMEX, S.A.B. de C.V., GEOPOLYMER SOLUTIONS LLC, Kiran Global Chem Limited, Uretek, Wagners, Zeobond Pty Ltd.

• On the basis of type, the fly ash based segment is expected to dominate the market, during the forecast period. Fly ash (FA) is easily available and can be used largely to produce geopolymer concrete. FA-based geopolymer concrete is a potential substitute for traditional concrete. The use of commonly obtainable and cost-effective FA as mineral fillers in concrete reduces the consumption of ordinary Portland cement.

• On the basis of application, the building segment is projected to expand at a XX% CAGR during the forecast period. This is attributed to the fact that geopolymer concrete is a sustainable material for the construction of buildings. It can be used in place of Portland cement concrete to reduce the adverse effect of extreme CO2 emission.

• On the basis of the distribution channel, the manufacturer segment is dominating, as consumers prefer to buy geopolymer concrete directly from manufacturers as manufacturers can develop their mix design procedure and have better control over the quality of the product. This approach can also help reduce the cost of production.

• Based on region, Asia Pacific is expected to hold a major share of the market during the forecast period. The increasing demand for geopolymer concretes to reduce the amount of carbon dioxide (CO2) emissions in the region is supporting the growth of the market. The rising focus on eco-friendly practices is contributing to the growth of the market in the region.

Report Scope:

Target Audience:

• Supply-side: Raw material suppliers and Manufacturers  

• Demand Side: Industrial sectors

• Regulatory Side: Concerned government authorities and other regulatory bodies