The geosynthetics market is poised for substantial growth, with projected revenues reaching US$ 15,177.60 million in 2023 and an anticipated surge to US$ 16,710.54 million by 2033. This robust expansion is underscored by a projected Compound Annual Growth Rate (CAGR) of 10.1% throughout the forecast period. The increasing demand for geosynthetics, driven by their versatile applications in construction, environmental protection, and infrastructure development, is set to propel the market’s upward trajectory, promising significant opportunities for stakeholders in the coming decade.
A new avenue in civil engineering to drive the market is geosynthetics, which is thought to offer innovative solutions for geotechnical, hydraulic, environmental, and transportation problems. As a result, infrastructure works can be built with more efficiency and sustainability, and with greater resilience and sustainability. Woven geosynthetics are becoming more popular due to their ability to distribute loads and strengthen soil.
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Climate change poses increasing challenges for infrastructure, so geosynthetics will be used to build a resilient system to resist hurricanes, floods, and sea level rise. Materials such as these can help protect coastal areas, control erosion, and manage stormwater. With mass infrastructure projects that require resilient soil reinforcement and separation applications, these materials are a logical choice as they are highly tensile and dimensionally stable.
Real-time monitoring of infrastructure performance could be achieved by integrating sensors and technology into geosynthetics. Predictive maintenance can be conducted using this data, resulting in early detection of problems and extending the lifespan of a project. As technology advances and awareness programs become more popular, the market is expected to grow.
For instance, the Advanced Textile Association (ATA) held A Geosynthetics Conference in February 2023. Co-hosted with the International Erosion Control Association (IECA) Annual Conference and Expo, Kansas City, Mo., the conference brought together geotechnical, erosion control and stormwater experts. More than 1,800 attendees attended both conferences, and 186 exhibits took place, for a combined exhibition area of double that of the two associations.
Key Takeaways
- According to FMI, through 2033, geotextiles will account for 37.2% of market revenue.
- The polypropylene segment is expected to hold a market share of 50.2% during the forecast period.
- By 2033, the United Kingdom is expected to experience an 8.2% CAGR until 2033.
- Geosynthetic market demand in the United States is expected to increase by 10.3% CAGR throughout 2033.
- A 13.2% CAGR is expected to be achieved by 2033 for the geosynthetics market in India.
“Innovations in manufacturing techniques and the adoption of eco-friendly materials will drive demand for geosynthetics. A combination of regulations and standards and increasing demand for smart geosynthetics will drive market growth in the next few years,” says Analyst at FMI.
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Competitive Landscape
As geotextile materials become increasingly popular and eco-friendly materials become available, several market players are establishing production facilities in emerging economies. With increasing investments, partnerships, and mergers, demand for geosynthetics is growing.
Market Developments Include
- In June 2023, Infra.Market entered into definitive documents, through its parent company Hella Infra Market Private Limited, in order to acquire a majority stake in Strata Geosystems (India) Pvt Ltd (“Strata”) with a market value of INR 9,100 Million from Glen Raven Technical Fabrics LLC (“Glen Raven”). Strata India also acquired Glen Raven’s geosynthetics business in the United States as part of the transaction.
- In October 2022, Armando Alvarez Group and RedSea, a world leader in sustainable agriculture technology, entered into an exclusive agreement to supply hot-climate-compatible greenhouse covers. The new greenhouse cover is ideal for farming in hot and water-scarce regions. Results from the tests show exponential increases in harvest, reduced irrigation and fertigation costs and lower energy consumption.
Key Companies Profiled
- AGRU Kunststofftechnik GmbH
- Low & Bonar PLC
- Tensar Corporation
- Raven Industries, Inc.
- Thrace Group
- GSE Environmental Inc.
- Officine Maccaferri S.p.A.
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Segmentation Analysis of the Geosynthetics Market
By Product Type:
- Geotextile
- Geomembrane
- Geogrid
- Geonet
- Geocomposite
- Geosynthetics Clay Liner
- Others
By Material Type:
- Polyethylene (HDPE/LLDPE)
- Polypropylene (PP)
- Polyester
- Natural fibers
- Others
By Primary Application:
- Separation
- Drainage & Filtration
- Reinforcement
- Containment
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
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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