Global Soil Stabilization Market Size 2024, Forecast To 2033
6 Mar, 2024
The soil stabilization market has witnessed strong growth, increasing from $27.76 billion in 2023 to $29.22 billion in 2024, indicating a compound annual growth rate (CAGR) of 5.2%. This robust growth in the historical period is attributed to considerations of maintenance and durability, applications in industrial and commercial construction, innovations in additives and techniques, mitigation of natural disasters, and a commitment to environmental sustainability. Looking ahead to 2028, the market is anticipated to experience steady growth, reaching $35.31 billion with a CAGR of 4.9%. This projected growth is linked to factors such as cost-effectiveness and long-term benefits, the adoption of geotechnical solutions, the ongoing increase in infrastructure development, a focus on sustainable construction, and government investments in infrastructure. Key trends in this forecasted period include remote sensing and monitoring, the promotion of green soil stabilization techniques, innovative biopolymer solutions, applications of nanotechnology, and the integration of geosynthetics.
Global Soil Stabilization Market Key Driver
The escalating construction activities are poised to propel the growth of the soil stabilization market. Construction activities encompass various tasks involved in constructing, renovating, or building structures, contributing to economic growth through job creation and the utilization of land, soil resources, and construction materials. Soil stabilization plays a crucial role in construction by improving soil properties to make it suitable for building foundations, roadways, and other infrastructure projects. As reported by the Office for National Statistics in November 2021, the value of new construction work in Great Britain saw a notable increase of 15.3%, reaching $119,750 million, compared to $103,815 million in 2020. Furthermore, in 2021, the U.S. Census Bureau reported a 15.6% increase in the number of housing units started, totaling an estimated 1,595,100 compared to 1,379,600 in 2020 in the United States. Hence, the burgeoning construction activities are expected to continue driving the growth of the soil stabilization market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Soil Stabilization Market ReportGlobal Soil Stabilization Market Segments
The soil stabilization market covered in this report is segmented –
1) By Method: Chemical Soil Stabilization, Mechanical Soil Stabilization, Thermal Soil Stabilization, Biological Soil Stabilization
2) By Additives: Polymers, Mineral Agents, Stabilizing Agents
3) By End-User: Commercial, Residential, Industrial, Agriculture, Other End-Users
By Geography:The regions covered in the soil stabilization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the soil stabilization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global soil stabilization market report during the forecast period. The regions covered in the soil stabilization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Soil Stabilization Industry Players
Caterpillar Inc., Volvo Construction Equipment AB, The Fayat Group, Wirtgen Group, Carmeuse Lime & Stone, AltaCrete Inc., SNF Holding Company Inc., Soilworks LLC, AggreBind Inc., Graymont Limited, Global Road Technology International Holdings Limited, SCR-Sibelco NV, Boral Limited, The Low & Bonar Group, Tensar International Corporation, Boxley Materials Company Inc., Casella Organics Inc., Tim O’hare Associates LLP, B.D. White Top Soil Company, Clearflow Enviro Systems Group Inc., AET Group Inc., BASF SE, CTS GeoServices Corp., Dust Control Technology Inc., GSE Environmental LLC, Huesker Synthetic GmbH, Kemira Oyj, Maccaferri Group S.p.A., MoDoM Group, Propex Operating Company LLC
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Soil Stabilization Market Overview
Soil stabilization refers to the process of improving the physical and chemical properties of soil to enhance its engineering properties and make it suitable for construction or other applications. It involves modifying the soil to increase its strength, durability, and load-bearing capacity.
Soil Stabilization Global Market Report 2023 provides data on the global soil stabilization market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The soil stabilization market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.