The geosynthetics market consists of sales of the geosynthetics by entities (organizations, sole traders, and partnerships) that provide separation, filtration, strengthening, stiffening, drainage, barrier, and protection, among other properties. Geosynthetics are man-made synthetic materials that are in the shape of strips, sheets, or three-dimensional structures constructed of polymeric or natural materials. They are simple to prepare and transport and they can aid in the greening of construction projects. Geosynthetics have been effectively used to conduct a variety of functions that considerably contribute to the good performance of roadways.
The main types of geosynthetics are geotextiles, geomembranes, geogrids, geofoam, geonets, and others. The geotextiles are utilized to improve soil stability, limit erosion, and improve drainage. Geotextiles could be prepared from a broad range of polymers and manufacturing processes, making them correct in a wide range of civil construction processes. These are manufactured using polyethylene, polypropylene, polyester, PVC, and others, and have functions such as separation, filtration, drainage, reinforcement, protection, barrier/containment, and erosion control. Geosynthetics are used in waste management, water management, transportation infrastructure, civil construction, and other applications.
The global geosynthetics market size is expected to grow from $10.44 billion in 2021 to $11.53 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The global geosynthetic market size is expected to reach $15.03 billion in 2026 at a CAGR of 6.9%.
The growth of the construction industry is contributing to the growth of the geosynthetics market. The construction industry mainly involves building and repairing structures. Geosynthetics are considered to improve the quality of factory-manufactured construction products as they provide an economical solution for various functions such as separation, filtration, reinforcement, drainage, waterproofing, erosion control, containment, and protection. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, the growth of the construction industry is expected to drive the growth of the geosynthetics market going forward.
Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the geosynthetics market. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in April 2022, Commercial Metals Co, a US-based steel and metal manufacturer acquired Tensar International Corp for an undisclosed amount. This acquisition advances CMC’s strategy to expand leadership in construction reinforcement with value-added products that complement the existing offerings. Tensar Corporation is a US-based manufacturer of proven geosynthetic products. Moreover, in May 2020, Freudenberg, a Germany-based diversified group of companies whose products include housewares and cleaning products, automobile parts, textiles, building materials, and telecommunications acquired Low & Bonar PLC for an undisclosed amount. With this acquisition, Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it will further expand. Low & Bonar PLC is a UK-based manufacturer of technical textiles.
In June 2021, Solmax, a Canada-based geosynthetics manufacturer acquired TenCate Geosynthetics for an undisclosed amount. This acquisition helps Solmax create a positioning to accelerate its vision of driving innovation, and standards. TenCate Geosynthetics is a US-based company that develops geosynthetics.
Major players in the geosynthetics market are Koninklijke Ten Cate B.V, GSE Holdings Inc., NAUE GmbH & Co. KG, Texas Spa, Fibertex Nonwovens A/S, HUESKER Synthetic GmbH, Tensar International Corporation, AGRU America Inc., Low & Bonar PLC, Groupe Solmax Inc, Officine Maccaferri SpA, Asahi Kasei Advance Corporation, Belton Industries Inc, and Propex Operating Company LLC.
Asia-Pacific was the largest region in geosynthetics market in 2021. Asia-Pacific is also expected to be the fastest-growing region in the global geosynthetics market during the forecast period. The regions covered in the global geosynthetics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the global geosynthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The global geosynthetics market is segmented -
1) By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Others
2) By Material: Polyethylene, Polypropylene, Polyester, PVC, Others
3) By Function: Separation, Filtration, Drainage, Reinforcement, Protection (Cushion), Barrier or Containment, Erosion Control
4) By Application: Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Others