The latest report by IMARC Group, titled “Europe Geopolymer Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028,” finds that the Europe geopolymer market size reached US$ 1.3 Billion in 2022. Geopolymers are sustainable materials comprising mineral molecules linked with covalent bonds. They are formed by polymerizing an alkaline solution and aluminosilicate, such as metakaolin, mining wastes, and fly ash. These materials occur naturally and can be synthesized chemically in the laboratory. They are inorganic, provide thermal stability, durability, and resistance to high temperatures, heat, and cold, offer high tensile strength, minimize carbon footprint, and use industrial waste products, including fly ash, coal power plants, and slag. As a result, geopolymers are gaining traction in the construction industry as a binder to reduce the usage of natural resources and carbon dioxide (CO2) emissions from cement plants across Europe.
Europe Geopolymer Market Trends:
The market is primarily driven by rising environmental awareness across the region. Moreover, the increasing product utilization in fire and heat-resistant coatings and adhesives, high-temperature ceramics, medicinal applications, and toxic and radioactive waste encapsulation are accelerating the product adoption rate. Additionally, the widespread adoption of geopolymers due to their numerous advantages, such as low creep and acid resistance, ultra-porosity, low drying shrinkage, and high strength, are providing lucrative growth opportunities to industry players. Besides this, the growing applications of geopolymers as binders in bridges, residential structures, construction, and runways are influencing market growth. Furthermore, extensive research and development (R&D) activities conducted by key players to commercially manufacture geopolymers with slag produced from the metal processing industry are propelling the market growth. Other factors, including high investment, rapid industrialization, and various technological advancements in the construction sector, are creating a positive market outlook across the European region. Looking forward, IMARC Group expects the market value to reach US$ 3.9 Billion by 2028, exhibiting a CAGR of 19.9% during the forecast period (2023-2028).
- Based on the application, the market has been categorized into cement and concrete, furnace and reactor insulators, composites, and decorative artifacts.
- On the basis of the end use industry, the market has been classified into building construction, infrastructure, industrial, art and decoration, and others.
- Country-wise, the market has been divided into Germany, France, the United Kingdom, Italy, Spain, and others.
- The competitive landscape of the industry has also been examined in the report with detailed profiles of the key players operating in the industry.
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