The geosynthetics market is expected to grow at a CAGR of over 9% during the forecast period. Geosynthetics are engineering materials, which are designed to improve the mechanical and physical properties of soil. Geosynthetics are light, flexible, possess high tensile strength, and are extendable on the application of loads.
- One of the major factors driving the growth of the market is the increasing demand from the infrastructure sector in Asia-Pacific, mainly in China, India, and ASEAN countries.
- The market has an opportunity in the usage of green roof and green wall in the construction industry to control soil erosion and for the better drainage system to the remove excess rain water from the roof top.
Key Market Trends
Growing Use of Geomembranes in Various Industries
- Geomembranes are thin, impervious sheets of polymeric material used primarily in landfill lining, canal lining, and tunnel lining applications. They are used in all types of landfills, reservoirs, canals, and any other type containment facilities where they serve as a barrier from waste containment.
- They are largely used in geotechnical, transportation, mining, agricultural, roads & highways and various water containment applications.
- Increasing adoption of geomembranes in waste water management applications has largely increased the consumption of geomembranes through the recent years. Mining industry constitutes to be one of the fastest growing industries for the consumption of geomembranes due to excellent chemical resistivity, UV resistivity, elevated temperature range, low permeability, and weatherability, properties of geomembranes.
- Asia-Pacific is expected to be the fastest growing geomembranes market through the forecast period, facilitated by the booming infrastructure industry in the emerging economies of the region. Countries, such as India, China, Thailand, and Indonesia comprise of the key markets for geomembranes in Asia-Pacific.
- Furthermore, the United States Environmental Protection Agency's (EPA) enforcement of lining coal ash sites has led to an increase in sales for the geomembranes market. With the rise in the lining of coal ash sites, lining solid waste sites also seems to be on the rise in the United States, which has further led to somewhat around 7%-10% growth per year in the geomembrane market in the United States.
- Such positive factors are expected to drive the market through the forecast period.
Asia-Pacific Region to Lead the Market
- China and Japan dominated the geosynthetics market in Asia-Pacific region.
- The Chinese construction industry is populated with state-owned and private enterprises. The presence of European construction giants in China is reflecting the highly lucrative nature of the market. Investments fueled by private construction giants and government are collectively pushing the industry significantly.
- Japan's construction sector is expected grow at a moderate pace over the next five years, owing to the increasing investments in public infrastructure, renewable energy, infrastructure, and commercial projects; in turn, improving, both, the consumer and investor confidence.
- Such positive factors are expected to drive the market for geosynthetics in Asia-Pacific region through the forecast period.
The global geosynthetics market is highly fragmented in nature with the presence of a large number of global and regional players in the market. Some of the major players operating in the market studied include Koninklijke Ten Cate bv, Low & Bonar PLC, Propex Operating Company LLC, GSE Environmental, and HUESKER Synthetic GmbH, amongst others.
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