Market Research Report
Geosynthetics Market Size, Share & Trends Analysis Report By Product (Geotextiles, Geomembranes, Geogrids, Geonets, Geocells), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2020 - 2027
|Geosynthetics Market Size, Share & Trends Analysis Report By Product (Geotextiles, Geomembranes, Geogrids, Geonets, Geocells), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2020 - 2027|
Published: August 28, 2020
Grand View Research, Inc.
Content info: 143 Pages
Delivery time: 2-10 business days
Market Growth & Trends
The global geosynthetics market size is expected to reach USD 21.61 billion by 2027, according to a new report by Grand View Research Inc., expanding at a CAGR of 5.6% from 2020 to 2027. Rapidly rising penetration of geosynthetics in the development of civil transportation infrastructure for heavy traffic is likely to fuel the market growth over the forecast period.
The COVID-19 pandemic outbreak across the globe has forced several governments to impose lockdown regulations in their respective economies. The aforementioned situation has boosted the construction of civil transportation infrastructure due to low traffic, thereby positively influencing the market growth.
Geosynthetic products are witnessing rising usage in mining operations as the mining companies are focusing on its economic and technical advantages. Moreover, heap leaching has emerged as a key technic for the extraction of valuable material from the ore, thereby driving the demand for the products owing to their high usage in heap leach projects.
Key industry participants are engaged in mergers & acquisitions to gain a strong foothold in the market. For instance, in 2017, Solmax, a leading player in the geosynthetics industry, acquired GSE Environment to form a combined business unit with a broader manufacturing unit, along with a worldwide commercial network.