The global geosynthetics market size was USD 27.16 billion in 2018. The market valuation is projected to reach USD 45.25 billion by 2026 at a CAGR of 6.6% during the 2019-2026 period. Increasing number of construction activities and rising applications in landfills, erosion control, filtration, and separation is anticipated to increase the market share for geosynthetics during the forecast period. Building of geo-systems is set to facilitate the sustainable construction activities for market progress. The rise in the demand from the mining industry for creation of waste barriers is expected to pose an opportunity for market growth. Fortune Business Insights™ mentioned this in a report titled, “Geosynthetics Market, 2024-2032”.
Geosynthetics Market Segmentation
Geotextiles to Hold Major Part Due to Increasing Number of Construction Activities
Based on product analysis, the market is segmented into geotextiles, geomembranes, geogrids, geonets, geofoams, geocells, geosynthetic clay liners (GCLs), and geocomposites. Geotextiles held a major part in the market due to increasing number of construction activities such as roads, railroads, landfills, harbors, and drainage structures for enhancing soil stabilization and increase in the spending by the government. Companies have been offering polypropylene made nonwoven geotextiles which is set to push market growth.
Geogrids are made from polymers such as HDPE, polyester, and polypropylene. They are used for retaining of walls, railroad construction, and base reinforcement. The growth of the market due to increase in the spending and increase in the transportation activities. High demand for urban drainage systems is likely to drive the demand for the product.
Geosynthetics Report Coverage
This report covers the overview of this market that provides an analysis of product, impact of COVID-19 pandemic, segmentation, drivers and restraints, regional insights, new developments, and key players present in the market. Dynamic change in the market is subjected to alter the demand in the forecast period.
Drivers & Restraints
Growing Demand from the Mining Industry to Enhance Market Expansion
Growing demand from the mining industry is one of the key market drivers which is expected to fuel geosynthetics market growth. They are used to create the waste barriers for the by-product of the mining. Mining produces waste rock and solid wastes. They are significantly used for lining solution, heap leaching, evaporation ponds, and tailings impoundments which is predicted to propel market development. Growing construction industry and activities is anticipated to add synergy to propel market progress. Increasing number of infrastructure spending in the Russia, Germany, U.K., India, Australia, Germany, and Poland is set to propel market growth.
Regional Geosynthetics Industry Insights
Increasing Demand for Various Metals in North America to Support Market Growth
North America to hold largest part in the geosynthetics market share due to noteworthy demand for metals such as zinc, copper, silver, gold, and bauxite. Enhanced mining industry in the U.S. is expected to bolster the demand in the North America. The region stood at USD 10.27 billion in 2018 due to increasing demand for metals from industries such as construction, metal, and automobile in the region.
Europe is also expected to have the second largest part in the market share due to rising demand for environment friendly infrastructure in the region. Rising awareness regarding carbon emissions is set to push demand for geomembranes.
Competitive Landscape:
New players entering the market have launched their new product lines making the market more competitive with their advanced solutions. It includes R&D investments, launch of new and advanced products in the market. Companies have been adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Key Players Present in the Market
- GSE Environmental (U.S.)
- Koninklijke Ten Cate BV (Netherlands)
- TENAX SPA (Italy)
- Fibertex Nonwovens A/S (Denmark)
- Tensar International Corporation (U.S.)
- Strata Systems, Inc. (U.S.)
- AGRU AMERICA, INC. (U.S.)
- Global Synthetics (Australia)
- Terram Geosynthetics Pvt. Ltd. (U.K.)
- Tuflex India (India)
- CTM Geosynthetics (India)
- HUESKAR (Germany)
- Mahashree Geomembrane (India) Pvt. Ltd. (India)
- Steklonit (Russia)
- SKAPS Industries (U.S.)
- Texel (U.K.)
- Fibromat (M) Sdn Bhd. (Malaysia)
- Pietrucha Group (Poland)
