The massive increase in construction activities and the growing need for environmental protection are the main drivers for the growth of the geosynthetics market.
New York, Jan. 18, 2021 (GLOBE NEWSWIRE) -- The global market for Geosynthetics is predicted to generate revenue of USD 22.11 Billion by the year 2027. Geosynthetics are mainly polymeric products, widely used in applications of construction and geotechnical engineering. They comprise of high-density polypropylene, polyethylene, and polyester. Geosynthetics are also crucial to several environmental, geotechnical, and hydraulic applications for being extremely durable, economical, and versatile materials. These materials can be integrated for serving as separators, reinforcements, barriers against gases and liquids, drainage facilitators, and filters. Moreover, it exhibits numerous outstanding physical properties, including strength, durability, and stiffness. Additionally, geosynthetics retain their exclusive properties even after being exposed to extreme cold temperatures or environmental conditions. They provide stability as well as strength to the underlying railway grounds and roads.
Rising acceptance of geosynthetics in several applications is promoting the overall industry’s growth. Various emerging countries are investing heavily in environmental and infrastructural projects, fueling market’s growth. Rising applications in wastewater treatment, regulatory support in the improvement of municipal facilities, and several projects undertaken by governments are other factors influencing the industry’s growth. Geosynthetics are highly preferred in landfill and filtration. The continuously surging demand for geosynthetics for dumping industrial, ordinary, and hazardous wastes safely is further propelling the sector’s growth.
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Due to massive outbreak of COVID-19, production shutdowns and supply chain disruptions have resulted in a severe downturn for the overall transportation industry, which is a prominent consumer of geosynthetics, negatively impacting the geosynthetic sales. While the industry is expecting things to return to normal state before the end of the year 2020, negative shock in demand caused by the COVID crisis is anticipated to last.
Further key findings from the report suggest
Geomembranes are extensively utilized in transportation, geotechnics, mining, roads, highway, agriculture, and several applications of water containment. Rising adoption of geomembranes in the application of managing wastewater has increased its consumption in past years.
Geomembranes are the geosynthetics market’s largest segment. They are thin plastic or rubber’s waterproof sheets, used mainly for the purpose of covering in solid or liquid storage facilities. Thus, geomembrane’s primary function lies in serving as moisture barriers, consequently, captured the largest industry share in terms of function.
The geotextiles sub-segment is growing at a fast pace, used in different filtering applications. These are made up of different synthetic fibers rather than other natural fibers, including silk, cotton, or wool.
Geosynthetics are extensively utilized in the transport sector and is anticipated to increase its usage in the same industry in the coming years. They provide strength and stability to the ground beneath roadways and rails.
These materials are widely used in different construction activities for strengthening infrastructure, limiting erosion, and controlling evaporation to promote the safety and longevity of structures.
Robust growth in the North American market has resulted from the rapidly increasing construction activities.
Key players include ACE Geosynthetics, DowDuPont, ACH Foam Technologies, Avintiv Inc., Agru America Inc., Belton Industries Inc., Carthage Mills, Bonar Corporation, CETCO, and Contech Engineered Solutions LLC.
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For the purpose of this report, Reports and Data has segmented into the Global Geosynthetics Market on the basis of type, function, end-use industry, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Geosynthetic Liners and Others
Function Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
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Regional Outlook (Revenue, USD Billion; 2017-2027)
Middle East & Africa
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