The latest report by IMARC Group, titled “Geosynthetics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global geosynthetics market exhibited moderate growth during 2015-2020. Geosynthetics are synthetic or natural polymeric materials used as significant components in various engineering processes. They are manufactured from high-density polyester, polypropylene and polyethylene. Geosynthetic products perform various functions such as reinforcement, separation, drainage, containment, barrier and surface erosion management. In recent years, geosynthetics have replaced conventional raw materials used in construction activities. As they can retain their properties when exposed to extreme environmental conditions. As a result, geosynthetics find application in civil engineering, transportation, mining and agriculture industries.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Geosynthetics Market Trends:
The market is primarily driven by the rising construction activities and extensive investments in infrastructural development across the globe. Besides this, with the increasing population and rapid urbanization, there has been a rising concern regarding waste and wastewater management. This has fueled the demand for geosynthetics to facilitate the safe dumping of residential, industrial and hazardous wastes. In addition, geosynthetics are used as landfill caps to prevent the migration of fluids by reducing or eliminating the post-closure generation of leachate and associated treatment costs. Moreover, the market is bolstered by the application of geosynthetics for silt fences and sediment control to minimize erosion. The implementation of favorable government policies is projected to drive the market further. For instance, the United States Environmental Protection Agency (USEPA) is mandating the use of geosynthetics in landfills under the Resource Conservation and Recovery Act (RCRA). Furthermore, the need for a cost-effective alternative to expensive stabilization methods, including dewatering, excavation, and replacement, is creating the demand for geosynthetics across the globe. Looking forward, the market is expected to grow at a CAGR of around 5% during the forecast period (2021-2026).
- Based on the product, the market has been segmented into geotextiles, geomembranes, geogrids, geonets, geosynthetic clay liner (GCL), pre-fabricated vertical drains (PVD), and others.
- On the basis of the type, the market has been classified into woven, non-woven, knitted, and others.
- The market has been categorized based on the material into polypropylene, polyester, polyethylene, polyvinyl chloride, synthetic rubber, and others.
- On the basis of the application, the market has been segregated into road construction and pavement repair, railroads, drainage systems, soil reinforcement and erosion, water and waste management, and others.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Fiberweb (India) Limited, GEO Synthetics LLC, Agru America Inc., Asahi Kasei Advance Corporation, Belton Industries, Polymer Group Limited, HUESKER Inc., Carthage Mills Inc., Thrace Group, Hanes Geo Components, Tenax Group, GSE Environmental, Swicofil AG, Owens Corning, and Low & Bonar Group.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal