How Has The GeosyntheticsMarket Size Evolved In Recent Years?
The geosynthetics market has seen considerable growth due to a variety of factors.
• The growth of the geosynthetics market has been robust in the past few years. Projected to expand from $13.7 billion in 2024, it is expected to reach $14.88 billion in 2025, showing a compound annual growth rate (CAGR) of 8.6%.
The significant growth in the previous period is due to factors such as infrastructure development, environmental regulations, urbanization, construction of landfills, and the mining and oil & gas sectors.
What Is The Projected Growth Of The Geosynthetics Market?
The geosynthetics market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the geosynthetics market is anticipated to witness significant expansion, with projections suggesting it could reach $21.57 billion by 2029, growing at a compound annual growth rate (CAGR) of 9.7%.
Factors such as resilience to climate change, waste management, recycling initiatives, infrastructure durability, and improvements in water and wastewater treatment, as well as coastal protection, are contributing to this growth during the forecast period. Key trends within this timeframe include the use of geosynthetic reinforcement in road construction, the application of geosynthetic liners in waste dumpsites, the incorporation of geotextiles in farming practices, the advancements in geocomposite technologies, and innovating for sustainability using materials.
What Are The Primary Growth Drivers In The Geosynthetics Market?
The development of the construction sector is propelling the geosynthetics market expansion. This sector primarily focuses on the creation and maintenance of structures. Geosynthetics are acknowledged to enhance the caliber of factory-produced construction materials, as they offer a cost-effective solution for many functions, including separation, filtration, reinforcement, drainage, waterproofing, erosion management, containment, and protection. For example, the Indian Ministry of Statistics and Programme Implementation anticipates a double-digit growth of 10.7% in the construction field in 2022. Consequently, the advancement of the construction industry is predicted to fuel the growth of the geosynthetics market in the future.
What Is The Segmentation Of The Global Geosynthetics Market?
The geosynthetics market covered in this report is segmented –
1) By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Other Types
2) By Material: Polyethylene, Polypropylene, Polyester, PVC, Other Materials
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, Other Applications
Subsegments:
1) By Geotextiles: Woven Geotextiles, Non-Woven Geotextiles, Knitted Geotextiles
2) By Geomembranes: HDPE (High-Density Polyethylene) Geomembranes, LDPE (Low-Density Polyethylene) Geomembranes, PVC (Polyvinyl Chloride) Geomembranes
3) By Geogrids: Uniaxial Geogrids, Biaxial Geogrids, Triaxial Geogrids
4) By Geofoam: Expanded Polypropylene (EPP) Geofoam, Expanded Polystyrene (EPS) Geofoam
5) By Geonets: Plastic Geonets, Composite Geonets
6) By Other Types: Geocomposites, Geotextile Tubes, Geocells
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What Emerging Trends Are Shaping The Geosynthetics Market Landscape?
The trend of strategic alliances and cooperations is increasingly emerging as a prominent trend within the geosynthetics industry. Many leading corporations in this market are turning to such alliances and cooperations in order to dominate the sector. For example, Commercial Metals Co., a steel and metal manufacturing company based in the US, purchased Tensar International Corp in April 2022, though the transaction amount was not disclosed. This purchase furthers CMC's aim to broaden its prime position in construction reinforcement by adding more valuable products that align well with their current range. Tensar Corporation, based in the US, is a proven producer of geosynthetic products.
Who Are the Key Players in the Geosynthetics Market?
Major companies operating in the geosynthetics market include:
• GSE Holdings Inc.
• NAUE GmbH & Co. KG
• 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.
• Propex Operating Company LLC
• Global Synthetics Pty Ltd.
• TYPAR
• Tenax Pidilite India Private Limited
• Solmax International Inc.
• CETCO Minerals Technologies Inc.
• Carthage Mills
• Geofabrics Australasia
• Geosynthetics Limited
• Hanes Geo Components
• Kaytech Engineered Fabrics
• Maccaferri Canada Ltd.
• Mattex Geosynthetics
• Nilex Inc.
• Owens-Corning Fiberglass Company
• Polymer Group Inc.
• Presto Geosystems
• Raven Industries
• Strata Systems
• TenCate Geosynthetics Americas
• Thrace Group
• Titan Environmental Containment
• Tuflex India Pvt. Ltd.
• Wrekin Products Ltd.
What are the Regional Insights into the Geosynthetics Market?
Asia-pacific was the largest region in geosynthetics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geosynthetics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
