Geosynthetics, a broad category of synthetic materials, are revolutionizing the construction and civil engineering sectors. These versatile materials play a vital role in enhancing the stability, durability, and sustainability of infrastructure projects. Geosynthetics encompass a range of products, including geotextiles, geomembranes, geogrids, geocells, and geocomposites. They are extensively utilized in applications such as road construction, soil reinforcement, erosion control, landfill management, and water management. The global Geosynthetics Market is experiencing steady growth, driven by the increasing need for cost-effective and sustainable solutions in infrastructure development.
The global geosynthetics market is expected to develop with a strong CAGR of 10.1% and year-over-year increase of 10.16%, reaching US$ 13.67 billion in 2022 and surpassing US$ 26.89 billion by 2029, according to Future Market Insights’ most recent industry report. Geosynthetics are increasingly being used in a variety of applications, including filtration, reinforcement, and separation. From 2014 to 2021, the geosynthetics market experienced a CAGR of 9.0%, according to historical study.
Gain a market overview from industry experts and unlock valuable insights to drive your business growth. Download our sample now @ 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.
- Cooley Group
Need clarification on the report? Don’t hesitate to reach out! We’re here to provide the answers you need regarding this valuable resource @ 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