Chicago, Jan. 12, 2023 (GLOBE NEWSWIRE) -- The global Geomembranes Market is estimated to be USD 2.6 billion in 2022 and is projected to reach USD 3.7 billion by 2027, at a CAGR of 7.6% between 2020 to 2026, as per the recent study by MarketsandMarkets™.
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Browse in-depth TOC on “Geomembranes Market”
211 - Market Data Tables
40 - Figures
193 - Pages
List of Key Players in Geomembranes Market:
- Solmax (Canada)
- Raven Industries (US)
- AGRU (Austria)
- Carlisle Construction Materials LLC (US),
- Atarfil (Spain), PLASTIKA KRITIS (Greece)
- JUTA (Czech Republic)
- Maccaferri (Italy)
- Firestone Building Products (US)
- The NAUE group (Germany)
- Anhui Huifeng New Synthetic Materials (China)
Drivers, Restraints, Opportunities and Challenges in Geomembranes Market:
- Driver: Increased mining activities in APAC and South America
- Restrain: Fluctuating raw material prices on account of volatility in crude oil prices
- Opportunity: Increasing spending on infrastructure development
Key Findings of the Study:
- By type HDPE is expected to hold the largest market size in the global geomembranes market during the forecast period
- By application waste management is expected to grow at the highest CAGR in the global geomembranes market during the forecast period
- APAC is expected to have the largest market share during forecast period
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By type HDPE is expected to hold the largest market size in the global geomembranes market during the forecast period
HDPE, LDPE & LLDPE, PVC, EPDM, and PP are some of the major types of geomembranes available in the market. HDPE is projected to be largest and fastest-growing segment in terms of value during the forecast period. These membranes are cost-effective and are used widely in all regions. HDPE membrane possess excellent chemical & UV resistance and are available at an affordable cost. Their robust performance in critical applications will drive the growth during forecast period.
By application waste management is expected to grow at the highest CAGR in the global geomembranes market during the forecast period
Mining, waste management, water management, and civil construction are the some of the major applications in the geomembranes market. Waste management is estimated to be the fastest-growing application during the forecast period. Geomembranes are essential for controlling the leakage of contaminated gas and liquid into the surrounding environment. These membranes are widely used in landfill caps, landfill covers, landfill liners, temporary landfill closures, animal waste containment, and sludge treatment application due to their ability to accommodate differential settlement in the waste pile.
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APAC is expected to have the largest market share during forecast period
By region, the geomembranes market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. APAC geomembranes market was largest market in 2021. The growth in this region is primarily attributed to enormous potential in mining, wastewater management, and infrastructural activities in the US, Canada, and Mexico. Europe North America was the second-largest market for geomembranes owing to well-established manufacturing and construction sector of the region.
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