Global Geosynthetics Market to surpass $12 Bn by 2024

January 07, 2020


According to the latest research report titled ‘Geosynthetics Market Size By Product (Geotextile {By Material (Synthetic [Polypropylene, Polyester, Polyethylene], Natural [Jute, Coir])}, By Product {Non-Woven, Woven, Knitted}, By Application {Road Construction, Erosion Control, Pavement Repair, Drainage, Railroad, Agriculture}), (Geogrids {By Material [Polyester, HDPE, PP], By Product [Uniaxial, Biaxial, Multi-Axial], By Application [Road Construction, Railroad, Soil Enforcement]}), (Geomembranes {By Material [HDPE, LDPE, EPDM, PVC], By Technology [Calendering, Extrusion], By Application [Water Management, Waste Management, Tunnels & Civil Construction, Mining]}), (Geonets {By Material [Polyethylene, HDPE, MDPE], By Application [Road Construction, Drainage, Railroad]}), (Geocells {By Material [HDPE, PP, Polyester], By Application [Earth Reinforcement , Load Support, Channel Protection, Slope Protection, Tree Root Protection]}), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, Spain, Poland, China, India, South Korea, Malaysia, Thailand, Australia, Japan, Brazil, South Africa, UAE, Saudi Arabia), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017- 2024’ available at MarketStudyReport.com, the global geosynthetics market is presumed to amass US $12 billion by the year 2024.
 

Expanding construction industry, coupled with increasing number of infrastructure development projects backed by government and the need to improve road construction are fostering the growth of geosynthetics market. These materials are lightweight and have excellent durability. They improve chemical resistivity and decrease permeability of soil for applications such as transportation, wastewater management, agriculture, and mining, which is further boosting the demand for geosynthetics across the globe.
 

Speaking of the product type, geotextile market segment is anticipated to accrue US $8 billion by the year 2024, as the product is extensively used across mining, construction, and other industrial applications. Geotextiles have high chemical resistance and improve soil stability by keeping the layers intact. These factors promote its use across an array of applications including road construction, drainage systems, and erosion control. This, along with federal restrictions for using certain metals & plastics will favor the segmental growth.
 

Considering the geographical outlook, North America geosynthetics market will register a growth rate of 4.5% over the forecast period, owing to the growth of mining industry which uses high performance and eco-friendly geosynthetics. Rising demand for enhanced solid waste management facilities and high quality drainage systems will further stimulate the regional market outlook.
 

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Additionally, Asia Pacific market is projected to cross US $3.5 billion by the year 2024, pertaining to rapid urbanization and upswing in commercial and residential construction. Geosynthetic construction materials improve the strength and durability of buildings while lowering the maintenance cost.
 

The key player functioning in geosynthetics market include Huesker Synthetic, Koninklijke Ten Cate B.V., Lamifab Industries, Techfab India, TENAX, and GSE Holding among others.


Frequently Asked Questions (FAQ) :

Expanding construction industry, coupled with increasing number of infrastructure development projects backed by government and the need to improve road construction are fostering the growth of geosynthetics market. These materials are lightweight and have excellent durability. They improve chemical resistivity and decrease permeability of soil for applications such as transportation, wastewater management, agriculture, and mining, which is further boosting the demand for geosynthetics across the globe.
Geotextile market segment is anticipated to accrue US $8 billion by the year 2024, as the product is extensively used across mining, construction, and other industrial applications. Geotextiles have high chemical resistance and improve soil stability by keeping the layers intact. These factors promote its use across an array of applications including road construction, drainage systems, and erosion control. This, along with federal restrictions for using certain metals & plastics will favor the segmental growth.
North America geosynthetics market will register a growth rate of 4.5% over the forecast period, owing to the growth of mining industry which uses high performance and eco-friendly geosynthetics. Rising demand for enhanced solid waste management facilities and high quality drainage systems will further stimulate the regional market outlook.
The key player functioning in geosynthetics market include Huesker Synthetic, Koninklijke Ten Cate B.V., Lamifab Industries, Techfab India, TENAX, and GSE Holding among others.
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