As per Future Market Insights’ latest industry analysis, the global geosynthetics market size is anticipated to grow with a robust CAGR of 10.1% with a year-on-year growth of 10.16% reaching US$ 13.67 Bn in 2022 and surpassing US$ 26.89 Bn by 2029. There is a surge in the adoption of geosynthetics in a large range of applications such as separation, filtration, and reinforcement. The historical analysis of the geosynthetics market registered a CAGR of 9.0% from 2014 to 2021.
On the basis of regional analysis, Asia Pacific Excluding Japan (APEJ) is anticipated to continue the most lucrative geosynthetics market, garnering around 36.1% of the total market share in 2022. Growth in the market is anticipated to be fueled by expanding the construction industry, increasing government support, and the presence of leading geosynthetics market players.
Geosynthetic Materials are man-made materials used in geotechnical engineering and civil engineering applications to enhance soil and rock performance. These materials are typically made from synthetic polymers such as polyethylene, polypropylene, polyester, and nylon. They are designed to have high strength, durability, and resistance to environmental factors such as water, chemicals, and UV radiation.
Geosynthetic materials are used in a variety of applications, including soil stabilization, erosion control, drainage, landfill liners, and mining operations. They can be used alone or in combination with other materials to provide a cost-effective and efficient solution to engineering challenges. The use of geosynthetic materials has become increasingly popular in recent years due to their versatility and effectiveness in a wide range of applications.
For details on vendors and their offerings – Request a sample report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-475
Key Takeaways
- Over the past few years, geosynthetics have evolved from new engineering materials with limited technical references, to state-of-practice materials with scores of designs and technical tools. These high-tech tools are being utilized in various sectors such as civil engineering, construction, agriculture, and mining industries to stabilize the terrain.
- In the first half of the assessment period, the growth of the market is attributed to rapid adoption in different applications, growing investments in construction & infrastructure projects, increasing government subsidies, and support, and rising environmental concerns.
- Due to expansion in the construction industry, rising government investment in infrastructure development, and manufacturing sector development are the predominant factors influencing the growth of the market.
- Owing to the surging use of geosynthetic products such as geotextiles, geomembranes, and geogrids for containment, filtration, reinforcement, and separation applications is predicted to elevate sales in the geosynthetics market over the projected period.
- Some of the vital key trends observed in the market incorporate expansion of production capacities and upgradation of their product portfolio. In addition to that, major key players are focusing on partnerships, collaborations, the establishment of new plants, acquisitions & other activities.
- The major factor driving growth in the geosynthetics market is its extensive application across several end-use industries. Moreover, growing investments in infrastructural development, rising environmental concerns regarding soil erosion, and increasing government support are some factors driving sales in the market.
- Polymers like polypropylene, polyester, and polyethylene are one of the common ingredients used in the formation of Geosynthetics which are comparatively less prone to decay and corrosion. These products are ideal for solving engineering problems. They are mostly used for stabilizing soil (terrain) during construction activities due to their numerous functional properties such as mechanical response, filtration ability, and chemical resistance.
Competitive Landscape
The global geosynthetics market is considered highly competitive in nature due to the presence of leading market players who are focused on continuously expanding and upgrading their product portfolios. In addition to that, they have also adopted several organic and inorganic growth strategies such as partnerships, collaborations, price reduction, acquisitions, and establishment of new facilities in order to gain a competitive edge in the market.
Key Companies Profiled
- AGRU Kunststofftechnik GmbH
- Low & Bonar PLC
- Tensar Corporation
- Raven Industries, Inc.
- Thrace Group
- GSE Environmental Inc.
- Officine Maccaferri S.p.A.
- Koninklijke Ten Cate B.V.
- HUESKER Synthetic GmbH
- Solmax International Inc.
- Geofabrics Australasia Pty. Ltd.
- Garware-Wall Ropes Ltd.
Ask an Analyst@ https://www.futuremarketinsights.com/ask-question/rep-gb-475
Geosynthetics Market by Category
Product Type:
- Geotextile
- Geomembrane
- Geogrid
- Geonet
- Geocomposite
- Geosynthetic clay liner
- Others
Material Type:
- Polyethylene (HDPE/LLDPE)
- Polypropylene (PP)
- Polyester
- Natural fibers
- Others
Primary Application:
- Separation
- Drainage & filtration
- Reinforcement
- Containment
End-use:
- Roads (paved & unpaved)
- Railways
- Retaining walls
- Waterworks and waste treatments
- Landfill & erosion control
- Others
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
LinkedIn| Twitter| Blogs | YouTube
For Sales Enquiries: sales@futuremarketinsights.com