The global Geosynthetics market is forecast to reach USD 22.11 Billion by 2027, according to a new report by Reports and Data. These are polymeric products used in geotechnical engineering and construction applications. They are made of high-density polyethylene, polyester, and polypropylene. Geosynthetics are economical, very durable, and versatile materials in various hydraulic, geotechnical, and environmental applications. They can be integrated to serve as reinforcements, separators, barriers against liquids and gases, filters, and drainage facilitators. It also has several favourable physical properties such as durability, strength, and stiffness. They retain their properties when exposed to cold environmental conditions. They provide strength and stability to the underlying ground of roads and railways.
Global acceptance of the market product is expected to stimulate growth in the global geosynthetics market. Emerging and developed countries are investing heavily in environmental and infrastructure projects, which are expected to fuel market growth. Several other factors influencing the market include regulatory support for improving municipal facilities, the growing demand for waste and water treatment applications, and the national governments have taken on several projects. Geosynthetics are highly preferred in environmental activities and civil construction, such as filtration and landfill. The transport sector makes extensive use of geosynthetics, which are expected to increase. The continually growing demand for it for the safe dumping of ordinary, industrial, and hazardous wastes could propel the growth of the market. However, the fluctuating prices of raw materials are the main factor restricting the market.
The COVID-19 impact:
The COVID-19 pandemic is expected to have a massive downward impact on the global Geosynthetics market in 2020, the reason being the halt in the construction industry, which was responsible for the significant demand in market share terms in 2019. After the pandemic, however, trends discussed in the study of the global market do hold ground.
Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the transportation industry, which is a significant market for Geosynthetics application, which will have short-term impacts on its sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
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Key participants include DowDuPont, ACE Geosynthetics, ACH Foam Technologies, Agru America Inc., Avintiv Inc., Belton Industries Inc., Bonar Corporation, Carthage Mills, Contech Engineered Solutions LLC, and CETCO, among others.
Further key findings from the report suggest
• Geomembranes are widely used in geotechnics, transportation, mining, agriculture, roads, and highways and various water containment applications. The increasing adoption of geomembranes in wastewater management applications has dramatically increased its consumption in recent years.
• Geomembranes represent the largest segment of geosynthetics. These are thin waterproof sheets of rubber or plastic used mainly for the coverings and covers of liquid or solid storage facilities. Thus, their primary function is always to serve as a moisture barrier and, as a result, captured the largest market share by function.
• Geotextiles form the fastest-growing type and also used in filtering applications, which also has the highest CAGR by function. These are textiles in the traditional sense of the term but made up of synthetic rather than natural fibers, such as cotton, silk, or wool.
• The use of geosynthetics has increased vastly in the transport sector and is expected to increase in the future. They provide stability and strength to the soil beneath rails and roadways.
• These materials are used at several stages of construction activities to strengthen infrastructure, control evaporation, and limit erosion to promote the longevity and safety of structures.
• A significant boost to the market in North America resulted from an expected acceleration in construction activity.
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For the purpose of this report, Reports and Data have segmented into the global Geosynthetics market on the basis of Type, Function, End-Use Industry, and Region:
Type Outlook (Revenue, USD Billion; 2017-2027)
• Geosynthetic Liners and Others
Function Outlook (Revenue, USD Billion; 2017-2027)
• Moisture Barrier
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
• North America
• Asia Pacific
• Latin America
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Key point summary of the report:
• It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
• The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
• Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
• The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
• The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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