Geosynthetics Market Size to Surpass USD 45.25 Bn by 2026 | With 6.6 % CAGR
The global geosynthetics market covered major segments by Product (Geotextile Geogrid, Geonets, Geocells, Geofoam, Geosynthetic Clay Liner, Geocomposites) and Region.
Pune, India, June 13, 2023 (GLOBE NEWSWIRE) — According to a recent report by Fortune Business Insights™, the geosynthetics market trends was valued at USD 27.16 billion in 2018 and is projected to reach USD 45.25 billion by 2026, with a compound annual growth rate (CAGR) of 6.6% during the forecast period.
The usage of sustainable building materials is on the rise and this trend is expected to benefit the global geosynthetics market. Geosynthetics offer a practical solution to reduce the usage of natural materials like aggregates and sand, which in turn simplifies construction activities. By using geosynthetics in a typical cross-section, the depth of the aggregate layer can be reduced, resulting in less mining required for the construction of roads.
Geosynthetics are synthetic materials used in civil engineering and construction projects to improve soil stability, reinforce structures, and provide environmental protection. These materials are commonly made from polymers such as polypropylene, polyester, and polyethylene, and can be classified into various categories such as geotextiles, geomembranes, geogrids, and geocells. Geosynthetics are widely used in applications such as road construction, erosion control, landfills, mining, and agriculture, among others.
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List of companies operating in the Geosynthetics market.
- Koninklijke Ten Cate bv
- Garware Technical Fibres Ltd.
- Fibertex Nonwovens A/S
- Techno Fabrics Geosynthetics Pvt. Ltd.
- HUESKER
- Fibromat (M) Sdn Bhd.
- AGRU AMERICA, INC.
- Steklonit
- Global Synthetics
- Strata Systems, Inc.
- Pietrucha Group
Report Scope & Segmentation:
| Report Attributes | Details |
| Forecast Period | 2023-2026 |
| Forecast CAGR | 6.6% |
| 2026 Value Projection | USD 45.25 Billion |
| Market Size in 2018 | USD 27.16 Billion |
| Historical Data | 2015-2017 |
| No. of Pages | 180 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Geosynthetics Market Growth Drivers | 0.5 mm to Lead as it Provides Optimum Performance |
| Increasing Demand from Various End-use Industries to Propel the Product Demand |
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Drivers & Restraints-
Rising Demand from Mining Sector to Propel Growth
Geosynthetic materials are now commonly used for creating waste barriers to manage mining by-products. Throughout the mining process, including waste disposal and containment, a large amount of solid waste, such as waste rocks and tailings, is generated. Geomembrane liners are extensively used for lining solutions in this sector, including tailings impoundments, heap leaching, and evaporation ponds.
Many organizations are providing various geomembrane solutions to the mining industry, which accounts for around 40% of the global production of geomembranes. These factors are expected to drive the growth of the geosynthetics market in the years to come. However, the market growth may be hindered by the tendency of geogrids to get damaged when exposed to UV light and low temperatures.
Segmentation:
Geotextile Segment to Lead Backed by Their Possession of Various Advantages
The geosynthetics market is categorized into various product types, including geocomposites, geotextiles, geosynthetic clay liners (GCLs), geonets, geogrids, geofoams, geomembranes, and geocells. Among these, the geotextile segment accounted for 30.47% of the geosynthetics market share in 2018. The increasing usage of geotextiles in construction applications, such as drainage structures, landfills, harbors, roads, and railroads, to improve soil stabilization has contributed to this growth. Additionally, various governments around the world are investing significant amounts of money, which is expected to further boost the growth of this segment.
Moreover, they are conducting awareness programs regarding the functional advantages of these products unlike the conventional materials. A few of the benefits consist of superior load bearing capacity, high tensile strength permeability, and flexibility. Hence, it is upsurging the penetration of such products in agriculture, pavement repair, drainage, road construction, and soil erosion. They are mainly made up of polypropylene, polyethylene, or polyvinyl chloride (PVC). These further aid in preventing erosion by stabilizing soil.
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Major Regional Analysis-
North America to Dominate Owing to Rapid Industrialization
The geosynthetics market is divided into five regions: Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. North America held the largest share of the market revenue in 2018, amounting to USD 10.27 billion, and is expected to maintain its dominant position. The growth in this region is primarily due to the high demand for metals such as gold, bauxite, zinc, silver, and copper, which has led to the expansion of the mining sector in the US.
Furthermore, the construction, automobile, and electronic industries in North America have a growing demand for various metals, which has attracted the attention of many companies to expand their mineral exploration projects. The ongoing infrastructure projects and rapid industrialization are also expected to drive the growth of the geosynthetics market in this region in the coming years.
Europe is expected to maintain its position as the second-largest market after North America. The growth in this region is driven by the increasing demand for residential buildings. Furthermore, the high number of awareness campaigns promoting the construction of environmentally-friendly infrastructure is expected to aid in the growth of the market in this region. Meanwhile, the Asia Pacific region is expected to experience significant growth due to the increasing disposable income of the population, as well as the rising number of infrastructure development and renovation projects in the region.
Competitive Landscape-
The geosynthetics market comprises of various enterprises, including big, small, and medium-sized companies. These businesses are primarily focused on improving their operations by supplying their products to various end-use industries. Here are some of the recent industry developments:
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends in Global Market
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Key developments: Mergers, Acquisition, Collaboration, Partnership, and Joint Venture
- Geosynthetics Market Analysis, Insights and Forecast – By Product
- Key Findings
- Market Analysis, Insights, and Forecast – By Product
- Geotextiles
- By Material
- Synthetic
- Polypropylene
- Polyester
- Polyethylene
- Natural
- Jute
- Coir
- Synthetic
- By Product
- Woven
- Nonwoven
- Knitted
- By Application
- Road Construction
- Erosion Control
- Pavement Repair
- Drainage
- Railroad
- Agriculture
- Others
- By Material
- Geogrids
- By Material
- HDPE
- Polypropylene
- Polyester
- By Product
- Uniaxial
- Biaxial
- Multiaxial
- By Application
- Road Construction
- Railroad
- Soil Reinforcement
- Others
- By Material
- Geomembranes
- By Material
- HDPE
- LDPE
- Ethylene Propylene Diene Monomer (EPDM)
- PVC
- Others
- By Technology
- Calendering
- Extrusion
- Others
- By Application
- Water Management
- Waste Management
- Tunnels & Civil Construction
- Mining
- Others
- By Material
- Geonets
- By Material
- Polyethylene
- HDPE
- MDPE
- By Application
- Road Construction
- Drainage
- Railroad
- Others
- By Material
- Geocells
- By Material
- Polypropylene
- HDPE
- Others
- By Application
- Load Support
- Water Retention
- Channel & Slope Protection
- Others
- By Material
- Geofoams
- By Product
- Expanded Polystyrene (EPS)
- Extruded Polystyrene (XPS)
- By Application
- Road & Highway Construction
- Building & Infrastructure
- Airport Runways & Taxiways
- Others
- By Product
- Geosynthetic Clay Liners (GCLs)
- By Application
- Containment & Wastewater Treatment
- Landfill
- Roadways & Civil Construction
- Others
- By Application
- Geocomposites
- By Application
- Water & Wastewater Management
- Road & Highway
- Landfill & Mining
- Soil Reinforcement
- Others
- By Application
- Geotextiles
- Geosynthetics Market Analysis, Insights and Forecast – By Region
- Key Findings
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
TOC Continued…!
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