Geosynthetics Industry Targets US$ 26.89 Billion by 2029 with 10.1% CAGR Growth

According to the most recent market research analysis from Future Market Insights, the worldwide geosynthetics industry is expected to grow at a robust CAGR of 10.1% and a year-over-year increase of 10.16%, surpassing US$ 26.89 billion by 2029 and reaching US$ 13.67 billion in 2022. Some of the novel geosynthetic applications include filtration, reinforcement, and separation. According to historical data, the geosynthetics sector is expected to grow at a CAGR of 9.0% between 2014 and 2021.

Geographically, the geosynthetics market is diversified, with considerable demand from North America, Europe, Asia Pacific, and other areas. Asia Pacific, in particular, is likely to see significant growth as a result of increased infrastructure development and government measures encouraging environmentally friendly construction methods.

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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

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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

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, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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