The global geosynthetics market size was USD 27.16 billion in 2018 and is projected to reach USD 45.25 billion by 2026, exhibiting a CAGR of 6.6% during the forecast 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”.
Segmentation
The geosynthetics market is segmented by type, application, and geography.
By Type:
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Geotextiles: The largest and most widely used category of geosynthetics, geotextiles include fabrics used for soil stabilization, filtration, drainage, and separation.
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Geomembranes: Flexible synthetic membranes that serve as barriers to fluids or gases in applications like landfills, reservoirs, and containment ponds.
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Geogrids: Used primarily in reinforcement and stabilization of soils in road construction, retaining walls, and other applications requiring high tensile strength.
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Geocells: 3D honeycomb-like structures used in soil stabilization and erosion control.
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Geocomposites: A combination of geosynthetics materials that provide integrated solutions for various applications.
By Application:
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Roadways and Pavement: Geosynthetics play a critical role in road construction by reinforcing subgrades, improving pavement performance, and increasing road lifespan.
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Landfills: Geomembranes are widely used in landfills for containment of hazardous waste and to prevent contamination of surrounding soil and groundwater.
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Erosion Control: In both civil engineering and environmental protection, geosynthetics help in controlling soil erosion, especially in coastal areas and hilly terrains.
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Drainage: Geosynthetics are used in drainage systems to manage stormwater runoff and control water flow in highways, railroads, and buildings.
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Reinforced Earth Structures: Geogrids and geotextiles are commonly used in the construction of retaining walls, slopes, and embankments.
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Agriculture: Geosynthetics like geotextiles and geomembranes are used in agricultural applications for soil improvement, water retention, and as protective barriers.
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 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.
Get More Information: https://www.fortunebusinessinsights.com/geosynthetics-market-102545
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)
Industrial Development:
July 2019: Action Plumbing Supply and Innovative Soil Solutions was acquired by Ferguson Enterprises. The acquisition is set to expand geotextile business in the U.S. and erosion capabilities.
