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Geosynthetics Market Size To Touch USD 21.4 Billion By 2028, Due To Rapidly Rising Penetration In The Development Of Civil Transportation Infrastructure | Grand View Research, Inc.

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Geosynthetics Market Size To Touch USD 21.4 Billion By 2028, Due To Rapidly Rising Penetration In The Development Of Civil Transportation Infrastructure | Grand View Research, Inc.

May 31
07:52 2022
Geosynthetics Market Size To Touch USD 21.4 Billion By 2028, Due To Rapidly Rising Penetration In The Development Of Civil Transportation Infrastructure | Grand View Research, Inc.
Grand View Research, Inc. – Market Research And Consulting
According to new report available with Grand View Research, rising awareness pertaining to the effectiveness of geosynthetics in controlling erosion through soil reinforcement and keeping the layers intact is projected to bolster geosynthetics market growth.

Geosynthetics Industry Overview

The global geosynthetics market size was valued at USD 13.3 billion in 2020 and is expected to reach USD 21.4 billion by 2028, at a CAGR of 6.0% from 2020 to 2028. 

Rapid infrastructure development in emerging economies, such as India and Brazil, is anticipated to fuel the market growth over the forecast period. Lockdown measures imposed by the governing authorities to contain the spread of coronavirus are expected to take a toll on the respective economies and the impact is expected to evolve in the upcoming months, post neutralization of the virus. This, in turn, is expected to create uncertainty regarding the growth of the market in the next couple of years. Prevailing strict government protocols in the U.S. related to the application of geosynthetics for silt fence and sediment control to minimize erosion are anticipated to have a positive impact on market growth. Furthermore, the U.S. EPA has mandated the use of geosynthetics in landfills under the Resource Conservation and Recovery Act (RCRA).

Gather more insights about the market drivers, restrains and growth of the Global Geosynthetics Market

According to the FAO, currently, over 30% of the soil has been eroded globally, which has resulted in land loss, slope instability, and loss in reservoir capacity due to silting. Rising awareness pertaining to the effectiveness of geosynthetics in controlling erosion through soil reinforcement and keeping the layers intact is projected to bolster market growth.

                         The U.S. geosynthetics market size, by product, 2018 - 2028 (USD Billion)

Geonets and geocells play a key role in promoting vegetative growth and providing shore protection, in turn, preventing soil erosion. Moreover, the ongoing soil preservation projects in various economies, including South Africa, Spain, Canada, and India, are expected to drive the market over the forecast period.

Extreme outflow losses from canals have amplified the drainage concerns. Geosynthetics are highly effective in controlling seepage problems in irrigation and other development projects. In addition, they are used in the design and construction of low embankment dams, channels, and slope protection and in controlling seepage losses from channels and reservoirs.

 

Geosynthetics Market Segmentation

Based on the Product Insights, the market is segmented into Geotextiles, Geomembranes, Geogrids, Geonets and Geocells.

  • The geotextile product segment led the market and accounted for a 48.7% share of the global revenue in 2020.
  • Geomembranes are estimated to expand at a CAGR of 4.6% in terms of revenue from 2020 to 2028 on account of rising awareness regarding the product’s application as floating covers for reservoirs to control evaporation, reduce the Volatile Organic Compounds (VOCs) emission, and minimize the demand for drainage and cleaning.

 

Based on the Geosynthetics Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America (CSA), and Middle East & Africa (MEA).

  • In 2020, Asia Pacific dominated the market and accounted for 41.4% share of the global revenue. Rising demand for oil reinforcement in the foundation work of residential buildings in the emerging economies of China and India is expected to drive the overall regional market over the forecast period.
  • Europe accounted for over 20.4% share of the global revenue in 2020 owing to various construction directives, such as 89/106/EEC and M/107 European Union, which has mandated the application of geosynthetics for infrastructure projects.

 

Market Share Insights:

  • July 2019: Ferguson Enterprises acquired Action Plumbing Supply and Innovative Soil Solutions to expand erosion control capabilities and geotextile business in the U.S.
  • December 2017: A Canadian-based company, Groupe Solmax, a provider of high-quality polyethylene (PE) geomembranes mainly for environmental and industrial applications, acquired manufacturer of geosynthetics lining, GSE Environmental. Both the companies will operate globally in the geosynthetics products business, delivering large manufacturing players with high-quality containment systems for industrial, domestic, or hazardous retention ponds, waste burial sites, heap leaching pads, and fracking.

 

Key Companies Profile:

Factors such as the expansion of manufacturing capacities in the developing economies of the Asia Pacific and the Middle East offer a competitive edge to the geosynthetics manufacturers. Furthermore, industry participants are entering into strategic agreements with raw material suppliers and equipment manufacturers to maintain an uninterrupted supply. Key players in the market are entering into agreements with emerging players to expand their distribution capacities, thereby increasing their market reach.

Some prominent players in the global Geosynthetics market include

  • GSE Holdings, Inc.
  • Koninklijke Ten Cate N.V.
  • Officine Maccaferri S.p.A.
  • NAUE GmbH & Co. KG
  • Propex Operating Company, LLC
  • Low and Bonar PLC
  • TENAX Group
  • Fibertex Nonwovens A/S
  • Global Synthetics
  • AGRU America
  • TYPAR
  • HUESKER Group
  • PRS Geo-Technologies
  • Tensar International Corporation
  • Solmax

 

Order a free sample PDF of the Geosynthetics Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

Web: https://www.grandviewresearch.com

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