Geosynthetics Market Size to Surpass USD 45.25 Bn by 2026

The global geosynthetics market covered major segments by Product (Geotextile Geogrid, Geonets, Geocells, Geofoam, Geosynthetic Clay Liner, Geocomposites) and Region.

Pune, India, June 13, 2023 (GLOBE NEWSWIRE) -- According to a recent report by Fortune Business Insights™, the geosynthetics market trends was valued at USD 27.16 billion in 2018 and is projected to reach USD 45.25 billion by 2026, with a compound annual growth rate (CAGR) of 6.6% during the forecast period.

The usage of sustainable building materials is on the rise and this trend is expected to benefit the global geosynthetics market. Geosynthetics offer a practical solution to reduce the usage of natural materials like aggregates and sand, which in turn simplifies construction activities. By using geosynthetics in a typical cross-section, the depth of the aggregate layer can be reduced, resulting in less mining required for the construction of roads.

Geosynthetics are synthetic materials used in civil engineering and construction projects to improve soil stability, reinforce structures, and provide environmental protection. These materials are commonly made from polymers such as polypropylene, polyester, and polyethylene, and can be classified into various categories such as geotextiles, geomembranes, geogrids, and geocells. Geosynthetics are widely used in applications such as road construction, erosion control, landfills, mining, and agriculture, among others.

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List of companies operating in the Geosynthetics market.

Koninklijke Ten Cate bv

Garware Technical Fibres Ltd.

Fibertex Nonwovens A/S

Techno Fabrics Geosynthetics Pvt. Ltd.

HUESKER

Fibromat (M) Sdn Bhd.

AGRU AMERICA, INC.

Steklonit

Global Synthetics

Strata Systems, Inc.

Pietrucha Group

Report Scope & Segmentation:

Report Attributes

Details

Forecast Period

2023-2026

Forecast CAGR

6.6%

2026 Value Projection

USD 45.25 Billion

Market Size in 2018

USD 27.16 Billion

Historical Data

2015-2017

No. of Pages

180

Report Coverage

Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends

Segments Covered

By Product

By Application

Regions Covered

North America

Europe

Asia Pacific

Latin America

Middle East and Africa

Geosynthetics Market Growth Drivers

0.5 mm to Lead as it Provides Optimum Performance

Increasing Demand from Various End-use Industries to Propel the Product Demand

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Drivers & Restraints-

Rising Demand from Mining Sector to Propel Growth

Geosynthetic materials are now commonly used for creating waste barriers to manage mining by-products. Throughout the mining process, including waste disposal and containment, a large amount of solid waste, such as waste rocks and tailings, is generated. Geomembrane liners are extensively used for lining solutions in this sector, including tailings impoundments, heap leaching, and evaporation ponds.

Many organizations are providing various geomembrane solutions to the mining industry, which accounts for around 40% of the global production of geomembranes. These factors are expected to drive the growth of the geosynthetics market in the years to come. However, the market growth may be hindered by the tendency of geogrids to get damaged when exposed to UV light and low temperatures.

Segmentation:

Geotextile Segment to Lead Backed by Their Possession of Various Advantages

The geosynthetics market is categorized into various product types, including geocomposites, geotextiles, geosynthetic clay liners (GCLs), geonets, geogrids, geofoams, geomembranes, and geocells. Among these, the geotextile segment accounted for 30.47% of the geosynthetics market share in 2018. The increasing usage of geotextiles in construction applications, such as drainage structures, landfills, harbors, roads, and railroads, to improve soil stabilization has contributed to this growth. Additionally, various governments around the world are investing significant amounts of money, which is expected to further boost the growth of this segment.

Moreover, they are conducting awareness programs regarding the functional advantages of these products unlike the conventional materials. A few of the benefits consist of superior load bearing capacity, high tensile strength permeability, and flexibility. Hence, it is upsurging the penetration of such products in agriculture, pavement repair, drainage, road construction, and soil erosion. They are mainly made up of polypropylene, polyethylene, or polyvinyl chloride (PVC). These further aid in preventing erosion by stabilizing soil.

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Major Regional Analysis-

North America to Dominate Owing to Rapid Industrialization

The geosynthetics market is divided into five regions: Latin America, North America, the Middle East and Africa, Asia Pacific, and Europe. North America held the largest share of the market revenue in 2018, amounting to USD 10.27 billion, and is expected to maintain its dominant position. The growth in this region is primarily due to the high demand for metals such as gold, bauxite, zinc, silver, and copper, which has led to the expansion of the mining sector in the US.

Furthermore, the construction, automobile, and electronic industries in North America have a growing demand for various metals, which has attracted the attention of many companies to expand their mineral exploration projects. The ongoing infrastructure projects and rapid industrialization are also expected to drive the growth of the geosynthetics market in this region in the coming years.

Europe is expected to maintain its position as the second-largest market after North America. The growth in this region is driven by the increasing demand for residential buildings. Furthermore, the high number of awareness campaigns promoting the construction of environmentally-friendly infrastructure is expected to aid in the growth of the market in this region. Meanwhile, the Asia Pacific region is expected to experience significant growth due to the increasing disposable income of the population, as well as the rising number of infrastructure development and renovation projects in the region.

Competitive Landscape-

The geosynthetics market comprises of various enterprises, including big, small, and medium-sized companies. These businesses are primarily focused on improving their operations by supplying their products to various end-use industries. Here are some of the recent industry developments:

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Detailed Table of Content:

Introduction

Research Scope

Market Segmentation

Research Methodology

Definitions and Assumptions

Executive Summary

Market Dynamics

Market Drivers

Market Restraints

Market Opportunities

Key Insights

Key Emerging Trends in Global Market

Latest Technological Advancements

Insights on Regulatory Scenario

Porters Five Forces Analysis

Key developments: Mergers, Acquisition, Collaboration, Partnership, and Joint Venture

Geosynthetics Market Analysis, Insights and Forecast – By Product

Key Findings

Market Analysis, Insights, and Forecast – By Product

Geotextiles

By Material

Synthetic

Polypropylene

Polyester

Polyethylene

Natural

Jute

Coir

By Product

Woven

Nonwoven

Knitted

By Application

Road Construction

Erosion Control

Pavement Repair

Drainage

Railroad

Agriculture

Others

Geogrids

By Material

HDPE

Polypropylene

Polyester

By Product

Uniaxial

Biaxial

Multiaxial

By Application

Road Construction

Railroad

Soil Reinforcement

Others

Geomembranes

By Material

HDPE

LDPE

Ethylene Propylene Diene Monomer (EPDM)

PVC

Others

By Technology

Calendering

Extrusion

Others

By Application

Water Management

Waste Management

Tunnels & Civil Construction

Mining

Others

Geonets

By Material

Polyethylene

HDPE

MDPE

By Application

Road Construction

Drainage

Railroad

Others

Geocells

By Material

Polypropylene

HDPE

Others

By Application

Load Support

Water Retention

Channel & Slope Protection

Others

Geofoams

By Product

Expanded Polystyrene (EPS)

Extruded Polystyrene (XPS)

By Application

Road & Highway Construction

Building & Infrastructure

Airport Runways & Taxiways

Others

Geosynthetic Clay Liners (GCLs)

By Application

Containment & Wastewater Treatment

Landfill

Roadways & Civil Construction

Others

Geocomposites

By Application

Water & Wastewater Management

Road & Highway

Landfill & Mining

Soil Reinforcement

Others

Geosynthetics Market Analysis, Insights and Forecast – By Region

Key Findings

Market Analysis, Insights and Forecast – By Region

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

TOC Continued...!

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