Geosynthetics Market

Geosynthetics Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Geosynthetics Market grew at a CAGR of 6.5% between 2017-2021 and is estimated to be US$ 12,143.6Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 8.3% and is expected to reach a valuation of US$ 26,954.5Mn by 2032 end.

The market is anticipated to grow as geosynthetics, including geomembranes and geosynthetic clay liners (GCLs), are being used for waste management applications such as food waste management, e-waste management, and medical waste management. In mining, geomembranes are increasingly used as lining materials, mostly in evaporation ponds, tailings management, and heap leaching.

Market Dynamic

THE EXPANSION OF THE CONSTRUCTION INDUSTRY IS SPURRING DEMAND FOR GEOSYNTHETIC PRODUCTS

The increasing industrialization of the region’s developing economies has created significant opportunities throughout the developing nations of North America. The expansion of the North American geosynthetics market is further supported by rising government spending and international investments related to construction activities.

Geosynthetics have grown significantly in the region over the past few years thanks largely to government initiatives in nations like the US and Canada to promote the infrastructure and the thriving residential sectors. During the forecast period, it is anticipated that the growing emphasis on green infrastructure solutions for cost-effectiveness, energy savings, and pollution reduction will accelerate growth.

FLUCTUATING RAW MATERIAL PRICES DUE TO THE VOLATILITY IN THE PRICES OF CRUDE OIL

The main variables influencing end-product prices are the costs and supply of raw materials. Most raw materials needed for geosynthetics, such as polyethylene, polypropylene, polyvinyl chloride, and ethylene propylene diene monomer, are sensitive to changes in crude oil prices.

Changes in the price of crude oil directly impact the cost of the raw materials needed to manufacture geosynthetics. However, almost every nation has banned domestic and international travel due to the current pandemic. As a result, there has been a significant drop in the fuel demand for transportation, impacting crude oil prices.

INCREASING INVESTMENTS IN INFRASTRUCTURE DEVELOPMENTS ARE ANTICIPATED TO BOOST THE GROWTH OF THE GEOSYNTHETICS MARKET

The growth of the geosynthetics market is anticipated to be aided by rising infrastructure development investments and rising consumer awareness of the advantages of geotextiles during the assessment period.

Geosynthetics have developed over the past few years from new engineering materials with few technical references to cutting-edge materials with hundreds of designs and specialized tools. They stabilize the terrain in the civil engineering, building, agricultural, and mining industries.

Market Segments Covered in Report

By Type:

• Geotextiles
• Geomembranes
• Geogrids
• Geofoam
• Geonets
• Others

By Application:

• Waste Management
• Water Management
• Transportation Infrastructure
• Civil Construction
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why is the demand in the Geomembranes sector high?

Due to growing awareness of the product’s use as floating coverings for reservoirs to control evaporation, limit the emission of volatile organic compounds (VOCs), and reduce the need for drainage and cleaning, geomembranes are predicted to grow at a steady CAGR in terms of revenue from 2023 to 2032.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Over 52.3% of global revenue was generated in the Asia Pacific region, which led the industry. Over the projected period, the overall regional market is anticipated to be driven by the increased demand for oil reinforcement in the foundation work of residential buildings in the expanding countries of China and India.
• Due to numerous construction directives, including 89/106/EEC and M/107 European Union, which have required geosynthetics for infrastructure projects, Europe accounted for a sizable portion of the market. Furthermore, the municipal and industrial waste management practices were subject to strict regulations from the German government.

Competition Analysis

The market for geosynthetics is highly competitive, with the top players continuously adding to and modernizing their product lines. Additionally, to gain a competitive edge in the market, they have implemented various organic and inorganic growth strategies, including alliances, collaborations, price reductions, acquisitions, and the construction of new facilities.

The key developments in the Global Geosynthetics Market:

• In December 2021, Propex, a well-known North American geosynthetics firm with a solid background in the construction, transportation, flood protection, and automotive industries, was successfully acquired by Solmax. The company’s geosynthetics business will greatly expand across numerous geographies due to the acquisition.
• In November 2021, Geogrid was added to Industrial Plastics’ extensive array of geosynthetic materials, the company revealed.

A list of some of the key suppliers present in the market are:

• 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
• NAUE GmbH & Co. KG
• Advanced Drainage Systems, Inc.

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.