Geosynthetics Market Size To Reach USD 14.57 Billion In 2028

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VANCOUVER, BC, September 21, 2021 / PRNewswire / – Global Geosynthetics Market Size Has Reached $ 9.44 billion in 2020 and is expected to register a significantly robust revenue CAGR over the forecast period, according to the latest analysis from Emergen Research.

Conductors:

The continued construction and expansion of road and rail networks in various countries of the world, rapid urbanization in developing countries, as well as the increasing use of geosynthetics in such projects are key factors that are expected to continue to boost the market revenue growth over the forecast period. Geosynthetics are widely used for filtration in road construction works in developed countries. Geosynthetics are also currently more widely used for erosion control, roadside drainage, and soil stability under retaining walls. Sustained developments in building and non-building construction activities and projects are also expected to continue to drive the demand for geosynthetics in non-transportation construction activities, as they can reduce maintenance costs and extend facility life. .

Constraints:

The cost and availability of raw materials are crucial factors influencing the price of geosynthetic products. The majority of geosynthetic raw materials, including polyethylene, polypropylene and PVC, are vulnerable to the volatility of crude oil prices. The cost of raw materials used in the production of geosynthetics is directly affected by the price of crude oil, which is expected to hamper the growth of the market to some extent during the forecast period.

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Growth projections:

The global geosynthetics market revenue is expected to register a CAGR of 5.8% and the market size to grow from $ 9.44 billion in 2020 at $ 14.57 billion in 2028. The robust revenue growth in the market is driven by increased investment in infrastructure and company concerns about improvements in waste management and the deployment of more efficient materials and solutions. Rising global population and rapid urbanization are also key factors that are expected to further propel the market growth during the forecast period.

COVID-19 impact analysis:

The global construction sector has been disrupted by the COVID-19 outbreak, with projects halted due to blockages, resulting in a lack of manpower, limited availability of raw materials, disruption of supply and temporary closures of construction projects. Businesses have reported declining demand for new workspaces, stores and other facilities, resulting in reduced revenues. The construction industry in United States has been strongly affected by a shortage of raw materials, as imports from other countries, including China, have been limited due to the pandemic.

Current trends and innovations:

As mining companies continue to realize the economic and technological benefits of using geosynthetics, the use of geosynthetics in mining operations continues to increase as more entrepreneurs look to deploy this. solution in various countries every year. Highly efficient, space-saving barriers and stronger access roads have been made possible through the deployment of geosynthetic solutions. The increasing use of geosynthetics in mining operations is expected to continue to drive the market growth in the near future.

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Geographic perspectives:

Europe is expected to register steady revenue growth over the forecast period due to the growing awareness of environmentally friendly construction. Infrastructure development in Europe is expected to be stimulated by the growing demand for more affordable housing, the increase in housing projects and the need for expansion in urban areas. The need for infrastructure improvements has grown as environmental considerations and awareness of increasing carbon emissions have grown significantly in the recent past. Governments of various countries have taken steps to support green construction, which is expected to boost market income growth in Europe.

Strategic initiatives:

Some large companies operating in the market include Berry Global, Inc., Agru America, Inc., Solmax International Inc., Officine Maccaferri SpA, NAUE GmbH & Co. KG, Contech Engineered Solutions LLC, Low & Bonar plc, Propex Operating Company LLC , Tensar International Corporation and HUESKER Group

  • In April 2021, Solmax International Inc. announced the expansion of its advanced production capabilities at its geosynthetics plant in Rechlin, Germany, to fabricate Polyethylene Interlock, PolyLock, as well as LL / HDPE Extruded Concrete Anchor Strips that allow engineers and technicians to safely and reliably place and fix Solmax geomembranes to wet concrete.

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Emergen Research has segmented the Global geosynthetics based on type, material, function, application and region:

  • Type Outlook (Volume Million Square Meters, Turnover, Billions USD; 2018-2028)
    • Geogrids
    • Geotextiles
    • Geonets
    • Geomembranes
    • Geofoam
    • Others
  • Material Outlook (Volume Million Square Meters, Revenue, USD Billion; 2018-2028)
    • Polyethylene
    • Polypropylene
    • Polyester
    • PVC
    • Others
  • Outlook Function (Volume Million Square Meters, Turnover, Billions USD; 2018-2028)
    • Separation
    • Filtration
    • Drainage
    • Reinforcement
    • Protection (Cushion)
    • Barrier / Containment
    • Erosion control
  • Application Outlook (Volume Million Square Meters, Revenue, $ Billion; 2018-2028)
    • Water Management
    • Waste Management
    • Civil construction
    • Transport infrastructure
    • Others

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  • Regional Outlook (Volume Million Square Meters, Revenue, USD Billion; 2018-2028)
    • North America
      a. we
      b. Canada
      vs. Mexico
    • Europe
      a. Germany
      b. France
      vs. UK
      D. Italy
      e. Spain
      F. BÉNÉLUX
      g. Rest of Europe
    • Asia Pacific
      a. China
      b. India
      vs. Japan
      D. South Korea
      e. Rest of the APAC
    • Latin America
      a. Brazil
      b. Rest of LATAM
    • Middle East & Africa
      a. Saudi Arabia
      b. United Arab Emirates
      vs. South Africa
      D. Turkey
      e. Rest of the MEA

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