The Global Market for Geosynthetics is Projected to Reach 10.6 Billion Square Meters by 2024
Growing Need for New, Improved
Infrastructure & Dedicated Government Efforts to Fund Infrastructure Growth
to Benefit the Global Geosynthetics Market, According to a New Report by Global Industry Analysts,
Inc.
GIA
launches comprehensive analysis of industry segments, trends, growth drivers,
market size, share and demand forecasts on the global Geosynthetics market. The global market for Geosynthetics
is projected to reach 10.6 billion square meters by 2024, driven by growing
investments in large-scale government funded infrastructure projects.
Geosynthetics
refer to natural or synthetic polymeric materials that are employed in civil
engineering and other applications to acquire desired traits such as
separation, sealing, protection, drainage and filtration among others. Appropriate
for high-durability ground uses, these products have been witnessing tremendous
adoption driven by increasing investments in infrastructure development
projects, stringent building codes and environmental regulations. Growing
infrastructure development works in emerging markets, particularly in
Asia-Pacific, are expected to infuse significant momentum in the market going
forwards. High durability of the materials, improving cost-effectiveness and
their environmental friendly attributes are driving their adoption in various
applications. Increasing concerns regarding environmental protection and
greater knowledge of the advantages of these products in a wide range of
applications is a major factor expected to drive growth.
Geotextiles,
which are permeable materials that are commonly used to reduce or prevent soil
erosion, represent the largest segment. Geotextiles also find use in
applications such as road industry, pavement repair and waste management works
for filtration, separation, reinforcement, draining and protection. Recovery in
global construction and infrastructure markets, and growing demand for
automotive textiles, protective textile, defense textiles and structural
canopies are driving the market for geotextiles. Geomembranes, which includes materials
such as LDPE, HDPE, PP, PVC and EPDM used primarily in water and waste
management applications, represent the fastest growing segment. Growing issues
concerned with environmental protection, water consumption, water scarcity as
well as ground water conservation are expected to drive demand for geomembranes
the subsequent years.
As
stated by the new market research report on Geosynthetics, Asia-Pacific represents
the largest market worldwide. The region also represents the fastest growing
market worldwide, with a CAGR of 12.7% through the analysis period, driven by growing
large-scale infrastructure, water management and road and railway construction
projects. Construction represents the largest end-use application for
geosynthetics. Recovery in global construction markets and introduction of various
legislations such as sedimentary runoff restrictions at the construction sites
and various other measures including soil protection and erosion control are
driving demand for geosynthetics in this segment. Growing roads and railways
projects worldwide and growing adoption rates are driving demand for
geosynthetics in the Roads & Infrastructure segment. Ability of
geosynthetics to enhance durability of roads by augmenting strength and
stability of the underlying soil in railway tracks and roads, enhance drainage
facilities and prevent erosion will drive the adoption rate of
geosynthetics.
Major
players in the market include AGRU America Inc., Berry Global Inc., CETCO,
Fibertex Nonwovens A/S, GSE Environmental Inc., Hanes Geo Components, Low &
Bonar PLC, Mattex Geosynthetics, NAUE GmbH & Co. KG, Officine Maccaferri
SPA, Propex Operating Company LLC, Raven Industries Inc., TenCate Geosynthetics
Americas, Tenax Corporation, Tensar International Corporation Inc. and
Thrace-LINQ Inc. among others.
The
research report titled “Geosynthetics: A Global
Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market
trends, issues, drivers, mergers, acquisitions and other strategic industry
activities of global companies. The report provides market estimates and
projections for Geosynthetics in volume terms for all major geographic markets
such as United States, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia and Rest of Europe), Asia-Pacific (Australia, China, India, and
Rest of Asia-Pacific), Latin America and Rest of World. Product Types analyzed
include Geomembranes, Geotextiles and Others. Global market for geosynthetics
is further analyzed by the following applications Construction, Ecological,
Roads & Infrastructure and Others. The report also analyzes the US market
in value terms by applications - Ground Stabilization & Reinforcement,
Containment, Drainage and Others.
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