In 2016, scientists at the Universidad Michoacana de San Nicolás de Hidalgo (UMSNH), in Mexicocreates developed antibacterial geopolymer for the construction industry. This resin (known as Antibac) inhibits growth, reproduction and transfer of yeast and fungi, used as cement it can adhere to metal surfaces, glass or ceramics. Brisbane West Wellcamp Airport (BWWA), Toowoomba, Queensland, is Australia’s first greenfield public airport which was built with approximately 40,000 m3 (100,000 tonnes) of geopolymer concrete making it the largest application of this new class of concrete in the world. The global geopolymer market was valued at USD XX million (in terms of revenue) and XX kilotons (in terms of volume) in 2016. The market is expected to reach a value of USD XX million and XX kilotons by 2022, with an estimated CAGR of XX%, and XX%, respectively, during the forecast period (2017-2022).
The global geopolymer business is in its nascent stage and is expected to grow exponentially over the following years and approximated at a CAGR of 30% during the forecast period. There exist a wide variety of potential and existing applications for geopolymer. Some of the geopolymer applications are still in development whereas others are already industrialized and commercialized. The greatest application in volume comes through geopolymer cements and which have been commercialized in many countries, the foremost being Australia and also being manufactured and studied by several research institutes. National standards and codes like the European cement standard, which are more prescriptive in nature and explicitly limit concrete to a Portland cement based binder, are an impediment to the industry. Performance based regulations like the ones implemented in Australia are more beneficial for the growth of research and industry.
Major factors driving the market’s growth are:
Sustainability and Cost Benefits Higher Projected Output for Coal and Iron Environmental Regulations and Emission Strain on Cement Industry Higher Demand from the Repair and Rehabilitation Market Major factors restraining the market’s growth are:
Risk Aversion Attitude of Construction Industry Questionable Potential of Carbon-dioxide Reduction Lack of Similar Concrete Standards and Specifications The market has been segmented by product type and end user application. By product type, Cement, Concrete and Precast Panels dominates the global market with a market share valued at around 65% in 2016. By end user application, buildings segment dominated the global geopolymer market in valued terms with a market share of around 20% in 2016.
The market has also been segmented by geography into Asia-Pacific (APAC), North America, Europe, South America, and Middle East and Africa (MEA). In 2016, in terms of both value and volume Asia-Pacific dominated the market with a share of XX%. Improving economic conditions in Asia-Pacific have raised the financial status of consumers; thus, boosting the demand for buildings and other infrastructural activities in the region (as the region is becoming a new industrial hub), consequently making Asia-Pacific region of immense potential and opportunities.
Opportunities and Major Players
Growing consumer awareness regarding the benefits of geopolymer products and increasing research and development activities in this field is expected to offer numerous opportunities which will help to propel the market’s growth. Some of the major companies dominating the global construction chemicals market with their products, services and continuous product developments are as follows:
BASF SE Dow Chemicals Milliken & Company, Inc. Key Deliverables in the Study
Market analysis for the global geopolymer market, with region specific assessments and competition analysis on global and regional scales Market definition along with the identification of factors instrumental in changing the market scenarios and prospective opportunities Extensively researched competitive landscape section with profiles of major companies along with their market shares Identification and analysis of the macro and micro factors that affect the global geopolymer market on global and regional scales A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped