Geosynthetics Market Forecast Report | Global Analysis, Statistics, Revenue, Demand and Trend Analysis Research Report by 2027

 

Geosynthetics Market To Reach USD 22.11 Billion By 2027

Massive increase in construction activities and the growing need for environmental protection are the drivers for the growth of the market.

Market Size – USD 14.07 Billion in 2019, Market Growth – CAGR of 6.2%, Market Trends – High demand from Europe and the Americas.

 

The Global Geosynthetics Market is expected to reach USD 22.11 Billion in 2027 from USD 14.07 Billion in 2019, registering a CAGR of 6.2% through the forecast period. Geosynthetics are polymeric products extensively used in several construction applications and geotechnical engineering. They consist of high-density polypropylene, polyester, and polyethylene. Geosynthetics are very durable in nature, versatile, and economical materials in widespread applications of geotechnical, environmental, and hydraulic. They are integrated to serve in the form of reinforcements, separators, barriers against gases and liquids, drainage facilitators, and filters. It also exhibits various favorable characteristics including, strength, stiffness, and durability.

The growing acceptance of the product is stimulating growth in the industry. Several emerging countries are highly making investments in infrastructure as well as environmental projects, which are fueling the market growth. Numerous factors are influencing the sector, including the regulatory support towards enhancing the municipal facilities, the soaring demand for applications in wastewater treatment, and the national government’s initiative in taking various projects. Geosynthetics are majorly preferred in civil construction and environmental activities, including landfill and filtration. The transport sector is making high use of geosynthetics, augmenting the sector’s growth. The continuous need for geosynthetics for the hassle-free dumping of hazardous, industrial, and ordinary wastes is further accelerating the industry’s dynamics. However, the volatility in the prices of raw materials is obstructing the market.

The pandemic’s impact has posed several challenges to the growth of the geosynthetics industry. The primary reason for the industry’s downfall is the stagnant construction industry’s work. However, it is expected that once the pandemic situation is controlled, the trends in the market would aid in retaining its demand in the coming years.

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Further key findings from the report suggest

·       Geomembranes are majorly utilized in geotechnics, transportation, mining, roads, agriculture, highways, and several applications in water containment. The growing geomembranes’ adoption in applications of wastewater management has fueled its consumption in previous years.

·       The geomembranes sub-segment is the biggest segment in the sector of geosynthetics. These are transparent waterproof plastic or rubber sheets used for the covers or coverings of storage facilities. Therefore, their primary function lies in serving in the form of moisture barrier and subsequently captured the highest share on the basis of function.

·       The geotextiles sub-segment is the fastest-growing type, being largely used in filtering applications. These are synthetic textiles rather than made up of natural fibers like wool, silk, and cotton.

·       The geosynthetics’ use has increased dramatically in the transport sector. They offer strength and stability to roadways and rails ground.

·       Such materials are used extensively at various stages of construction activities for reinforcing infrastructure, controlling evaporation, and limiting erosion to ensure the safety and longevity of structures.

·       The North American market is experiencing a significant rise owing to the acceleration in construction activities.

·       Major companies in the sector are DowDuPont, ACH Foam Technologies, ACE Geosynthetics, Agru America Inc., Avintiv Inc., Belton Industries Inc., Carthage Mills, CETCO, Bonar Corporation, and Contech Engineered Solutions LLC.

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For the purpose of this report, Reports and Data has segmented the Global Geosynthetics Market on the basis of type, function, end-use industry, and region:

Type Outlook (Revenue, USD Billion; 2017-2027)

·       Geotextile

·       Geomembrane

·       Geo-Composite

·       Geosynthetic Liners and Others

Function Outlook (Revenue, USD Billion; 2017-2027)

·       Separation

·       Drainage

·       Filtration

·       Reinforcement

·       Moisture Barrier

End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)

·       Construction

·       Transportation

·       Environmental

·       Others

Regional Outlook (Revenue, USD Billion; 2017-2027)

·       North America

o   U.S.

·       Europe

o   U.K.

o   France

·       Asia Pacific

o   China

o   India

o   Japan

·       Latin America

o   Brazil

·       Middle East & Africa

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