Global Geosynthetics Market to Grow with a CAGR of 5.77% through 2028
Global Geosynthetics Market is expected to grow owing to growth
of the building and construction sector complements throughout the forecast
period.
According to TechSci Research report, “Geosynthetics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”,
the Global Geosynthetics Market stood at USD 10.06 billion
in 2022 and is anticipated to grow with a CAGR of 5.77% % through 2028. This is
attributed to the growing demand for infrastructure development, along with the
growing awareness of sustainable construction practices, has led to a need for
cost-effective solutions for reinforcement and filtration. Moreover, rising
environmental concerns and regulatory requirements for erosion control and
waste management have further emphasized the advantages of geosynthetics in
terms of durability and performance. With expanding applications in
geotechnical engineering and rising investments in civil engineering projects,
the geosynthetics market is experiencing significant growth globally. This
growth is further driven by technological advancements in geosynthetic
materials and manufacturing processes, as they offer effective solutions for
various civil engineering and environmental applications.
Geosynthetics are utilized
throughout various stages of construction activities to enhance infrastructure
strength, mitigate evaporation, and mitigate erosion for the purpose of
promoting the longevity and safety of structures. These high-quality solutions
effectively reduce carbon emissions due to their ecological nature, while also
providing exceptional bearing capacity and evenly distributing load forces,
thus establishing a stable foundation. The construction industry in Europe and
other regions has witnessed a significant surge in carbon emissions. This
alarming trend has prompted manufacturers to innovate and adopt environmentally
friendly alternatives, thereby further stimulating market growth.
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The Global Geosynthetics
Market is segmented based on material, type, function, application and region.
Based on material, the market is bifurcated into polypropylene, polyethylene,
polyester and others. Based on type, the market is bifurcated into geotextile,
geomembrane, geocomposite, geosynthetic liner and others. Based on function,
the market is bifurcated into separation, drainage, filtration, reinforcement
and moisture barrier. Based on application, the market is bifurcated into construction,
transportation, environmental and others. Based on region, the market is
further bifurcated into North America, Asia-Pacific, Europe, South America,
Middle East & Africa.
Based on type, Geotextiles segment is expected to dominate the market during the forecast period. The
superior performance and exceptional qualities of the product, in comparison to
its competitors, are expected to drive significant growth throughout the
forecast period. As a result, it is widely utilized for various applications
including separation, filtration, drainage, reinforcement, and protection. The
field of geotextile products is gaining traction in infrastructure applications
due to its durability, ease of use, and cost-effectiveness. Moreover,
advancements in product technology are anticipated to prolong the product life
cycle, thereby benefiting the application industry. By integrating optical
fiber sensors with geotextiles, multifunction intelligence can be achieved,
enabling monitoring of the health of geotechnical structures and reducing the
risk of collapses and damages. Geotextiles play a crucial role in soil erosion
mitigation and prevention by effectively securing soil in place and
facilitating plant growth. The exploration of geotextile applications in
preventing soil erosion under unpredictable climatic conditions is expected to
further enhance their utilization in the erosion control segment. The
utilization of geotextile in asphalt pavements is anticipated to experience substantial
growth as increasing populations become aware of its advantages. Additionally,
geotextiles are employed in road foundations due to their ability to enhance
weak soil by providing cohesion, thereby extending the lifespan of roads. The
demand for these products is expected to rise alongside the growth of road
infrastructure projects in Asia-Pacific and Central and South America.
Based on application, Environmental
segment is projected to dominate the market throughout the forecast period. This
is primarily used in waste management and driven by the advantageous properties
and benefits offered by geosynthetics. Utilizing geosynthetics for water
harvesting presents a cost-effective solution for groundwater recharge and
effectively addresses waterlogging issues during heavy rainfall events.
Key market players in the Global Geosynthetics
Market are:-
·
Agru America Inc.
·
Avintiv Inc. (Berry Global Inc.)
·
Belton Industries Inc.
·
Bonar Corporation
·
Contech Engineered Solutions LLC (A Quikrete Company)
·
Geo-Synthetics LLC
·
Huesker Synthetic GmbH
·
Jinan GTM Building Materials Co. Ltd
·
Low & Bonar PLC
·
Tessilbrenta SRL
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“The
Asia Pacific region is projected to exhibit market dominance throughout the
forecast period. The escalating demand for oil reinforcement in the
foundational construction of residential buildings in emerging economies like
China and India is anticipated to be a key driver for the overall regional
market. The construction industry in developing regions, particularly Asia
Pacific, is expected to outperform developed regions due to the surge in per
capita income and rapid urbanization.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based global management consulting firm.
“Geosynthetics Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast 2018-2028,Segmented By Type (Liquefaction Terminal and
Regasification Terminal), Mode of Supply (Trucks, Shipment & Bunkering,
Rail Tanks, Pipeline and Others), Storage tank Capacity (Atmospheric,
Pressurized and Floating Storage (FSU)), Application (Transportation,
Industrial Feedstock, Power Geneeration and Others), By Region,” has evaluated the future growth potential of Global Geosynthetics Market and provides
statistics & information on market size, structure, and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Geosynthetics Market..
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