The global geomembranes market reached a value of US$ 2.8 Billion in 2019. Geomembranes are large-sized impermeable liners that act as protective barriers against fluids, gases and other soluble materials during geotechnical engineering operations. They are majorly manufactured using polyvinyl chloride (PVC), high/low-density polyethylene (H/LDPE) or with the infusion of geotextiles with asphalt, multi-layered bitumen geo-composites and elastomers. They have high shear and tensile strength and are resistant to high temperatures, ultraviolet (UV) rays, punctures and abrasions, and are commonly used for wastewater storage and waterproofing in artificial ponds, lakes and pools. Owing to these benefits, geomembranes find extensive applications across various industries, including energy, oil and gas, agriculture, civil and construction.
The growing mining and construction industries, along with the growing requirement for waste management systems across the globe, are the key factors driving the growth of the market. Geomembrane liners are extensively used for preventing water from seeping into landfills, thus further preventing the process of biodegradation and decomposition of the waste. Furthermore, significant infrastructural development across the globe, especially in emerging nations, is also providing a boost to the market growth. For instance, these membranes are utilized during the construction of roads, highways and bridges as they bind the soil together under asphalt layovers and increase the overall lifespan of the road. Additionally, the development of innovative product variants designed specifically to restrict the flow of naturally occurring gases and various volatile organic compounds is also favoring the market growth. Other factors, including the increasing product adoption by the mining industry, implementation of favorable government policies promoting environmental conservation and enhanced focus on research and development (R&D) activities, are projected to drive the market further. Looking forward, IMARC Group expects the market to reach a value of US$ 4.6 Billion by 2025, registering a CAGR of 8.5% during 2020-2025.
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The competitive landscape of the industry has also been examined with some of the key players being Agru America, Anhui Huifeng New Synthetic Material Co., Atarfil SL, Carlisle Syntec Inc., Carthage Mills, CETCO, Colorado Lining International Inc., Firestone Building Products Company, Geofabrics, GSE Environmental Inc., Officine Maccaferri Spa, Naue GmbH, Nilex Inc,. Plastika Kritis S.A., Solmax International, etc.
Key Questions Answered in This Report:
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