Geosynthetics Market Segmented By Geotextiles, Geomembranes, Geogrids, Geonets Product
Industry: Chemicals and Materials
Published Date: September-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 250
Report ID: PMRREP4119
The global geosynthetics market is projected to increase from a valuation of US$ 13.9 Bn in 2022 to US$ 26 Bn by the end of 2032, expanding at a high-value CAGR of 6.5%.
| Report Attribute | Details |
|---|---|
|
Geosynthetics Market Size (2022E) |
US$ 13.9 Bn |
|
Projected Market Value (2032F) |
US$ 26 Bn |
|
Market Growth Rate (2022-2032) |
6.5% CAGR |
|
Contribution of Asia Pacific to Global Market (203A) |
41.9% |
“Rising Count of Government-Undertaken Projects to Enhance Civic Amenities”
In recent years, many national governments are undertaking projects for the enhancement of civic amenities. In addition, there has been an increase in the use of geosynthetics in transportation, which is likely to increase further over the coming years. Geosynthetics are used to provide strength and stability to the underlying soil in roadways and railway tracks.
“Growing Global Demand for Waste Management”
There has been a significant increase in the requirement for geosynthetic, which is to be used for industrial waste. Further, the growing need for the dumping of hazardous waste in a safer way on regular basis is likely to stimulate demand for geosynthetics.
Further, the increased demand for industry solutions in many applications, for instance, waste management, erosion control, and mining is likely to fuel sales opportunities in the market. Along with this, emerging and developed countries with huge environmental projects and infrastructure are undertaking various assignments, which also create sales avenues in the industry.
“Volatile Prices of Raw Material Dampening Market Progress”
The prices of the raw materials that are used to produce geosynthetics are not fixed. It is changing constantly which is likely to restrict growth opportunities in the respective industry. In addition, the majority of these raw materials are downstream products of petrochemicals due to which the prices of geosynthetics are not fixed.
“Increased Investments on Several Projects Generating Growth Opportunities in Asia Pacific”
Out of all the regional markets, Asia Pacific is estimated to lead in the global market due to increased investments in several projects that are related to waste management and city transportation. Moreover, China is anticipated to contribute the largest share to the regional market. Malaysia, South Korea, and India are prominent countries that are anticipated to gain a noteworthy share owing to large infrastructure projects.
North America is contributing with the second-largest share in the global market. In addition, European countries have a comparatively lower share in the global market. But, the scenario in the European region is predicted to change with a rising count of projects on waste management.
Geosynthetics are polymeric products generally made-up of polyester, polypropylene, and polyethylene. These products retain their properties when exposed to harsh environmental conditions. These products are generally preferred in civil construction and environmental activities such as landfill and filtration.
Based on characteristics, geosynthetics are classified as geotextiles, geomembranes, geogrids, geofoams, and geonets among others. Geomembranes and geotextiles are among the largest used geosynthetics. However, geomembranes generate higher revenues than geotextiles.
The market for geosynthetics was mainly driven by huge projects undertaken by several national governments to enhance civic amenities. The usage of geosynthetics has increased immensely in the transportation sector and is likely to grow in the near future. Geosynthetics provide stability and strength to the underlying soil in railway and roadway tracks.
The demand for geosynthetics is likely to grow for industrial waste, hazardous waste, and the safe dumping of regular waste. Geosynthetics are used in various applications such as mining, erosion control, and waste management, among others. The major opportunity for geosynthetics is from developed and emerging countries where huge infrastructure and environmental projects are undertaken. However, volatile raw material prices may hamper the growth of the market as most of these materials are downstream products of petrochemicals.
Some of the key players in the geosynthetics market are Propex Global, GSE Environmental, Low & Bonar PLC, FiberWeb PLC, and Agru America, among others.
| Attribute | Details |
|---|---|
|
Forecast period |
2022-2032 |
|
Historical data available for |
2017-2021 |
|
Market analysis |
USD million for value |
|
Key regions covered |
|
|
Key countries covered |
|
|
Key market segments covered |
|
|
Key companies profiled |
|
|
Report Coverage |
|
|
Customization & pricing |
Available upon request |
By Product Type:
By Region:
To know more about delivery timeline for this report Contact Sales
The global geosynthetics market is estimated to progress at a CAGR of 6.5% through 2032.
The geosynthetics market is currently valued at US$ 13.9 Bn.
Asia Pacific dominates the global market with 41.9% share.
