Global Geomembranes market to be Dominated by Waste Management Sector through 2028
Global Geomembranes market is expected to grow in
the forecast period 2024-2028 due
to increasing demand from the waste management sector.
According to TechSci Research report, “Geomembranes Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Geomembranes
market is anticipated to upsurge at an impressive rate in the forecast period
2024-2028. A significant factor fueling the growth of the Global Geomembranes Market
is wide employment as a component of the capping and lining systems. Additionally,
to adopt waste management methods in the municipal and industrial sectors,
government is supporting the usage of geomembranes through stringent
legislation. Moreover, geomembrane
is used as waterproofing liners within pipelines and tunnels, liners for waste
conveyance canals, agriculture industry, as well as liners for solid waste
landfills and primary, secondary, and tertiary waste piles which further fuels the growth
of Global Geomembranes Market.
For instance, in 2021,
an agreement is signed between the City of Doral and Waste Management company regarding
the installation of approximately 10 acres of a geomembrane on the Southwest
side of the Doral side of the Medley landfill.
Furthermore, the market is being further
stimulated by growing demand from the mining, marine, and water management
sectors.
However, volatility in raw
material costs can slow down the market growth. Also, the availability of other
substitutes can further slowdown the market growth.
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Global Geomembranes Market is segmented
based on raw material, technology, application, and region.
Based on raw material, the market is
categorized into ethylene propylene diene monomer (EPDM), high-density
polyethylene (HDPE), low-density polyethylene (LDPE), and others. High-Density Polyethylene
(HDPE) segment is expected to hold the largest market share in the forecast
period, 2024-2028. This is due to good thermal conductivity, ease of
implementation, chemical inertness, excellent durability, ultraviolet
protection, and good stability.
Based on technology, the market is
segmented into extrusion, calendaring, and others. The Extrusion segment is expected to hold
the largest market share in the forecast period, 2024-2028. As it is widely
used in rainwater harvesting, groundwater protection, building construction, and
environmental protection.
Based
on application, the market is fragmented into water management, marine, mining, waste
management, and others.
Waste Management segment is expected to hold the
largest market share in the forecast period, 2024-2028. As the government encourages
the use of geomembranes by enforcing strict waste management laws & policies
in the municipal and industrial sectors.
Major companies operating in the global Geomembranes
market are:
- Officine Maccaferri S.p.A.
- Solmax Inc.
- Naue GmbH & Co. KG
- AGRU America, Inc.
- Atarfil, S. L.
- Environmental Protection, Inc.
- Seaman Corp.
- Plastika Kritis SA
- Nilex Inc
- Shanghai Yingfan Engineering Material
Co. Ltd
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“Asia Pacific region is
expected to grow at the highest rate during the forecast period due to rapid
industrialization and urbanization. Additionally, the growing understanding of
the advantages of polymer-based geomembrane in mining, water management, and
construction sectors of developing nations create lucrative opportunities for
market growth. Furthermore, in North America, increased shale gas output and a
greater emphasis on waste management applications create huge prospects of
market growth during the forecast period,” said Mr. Karan Chechi, Research
Director with TechSci Research, a research-based global management consulting
firm.
“Geomembranes
Market- Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028 Segmented By Raw Material (Ethylene Propylene Diene Monomer (EPDM),
High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Others), By
Technology (Extrusion, Calendaring, Others), By Application (Water Management,
Marine, Mining, Waste Management, Others), By Region, and Competition,
has evaluated the future growth potential of Global Geomembranes 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 the Global Geomembranes Market.”
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