Dublin, Aug. 30, 2021 (GLOBE NEWSWIRE) -- The "Global Geosynthetics Market Report 2021-2026" report has been added to ResearchAndMarkets.com's offering.
The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026 during the forecast period.
This growth is attributed to rise in demand in investments on infrastructural developments, and rising concerns over waste and water management globally. Geosynthetics have excellent properties such as high tensile strength, drapability, porosity, and flexibility which allows them to be used in a variety of applications ranging from infrastructure development to environmental protection.
Geotextile accounted for the largest share amongst other materials in the geosynthetics market
Geotextiles is the dominant type of geosynthetics globally in 2020. They are permeable, durable, and engineered fabrics made from synthetic fibers. Geotextiles are used in geotechnical engineering applications such as heavy construction, buildings, pavement construction, hydrogeology, and environmental engineering. Geotextiles have an increasing demand as they are replacing conventional materials and providing environment-friendly solutions. They are also used for drainage and erosion control, pavement and repairs, soil reinforcements & stabilization, embankments, asphalt overlays, and others.
Waste management accounted for the largest market share amongst other applications in the geosynthetics market
Waste management is one of the major applications of geosynthetics accounts for the largest share of the market in 2020. It includes the proper collection, transport, treatment, recycling, and disposal of residential, industrial, and commercial waste.
Geosynthetics are essential for controlling the leakage of contaminated gas and liquid into groundwater, rivers, aquifers, and other. Some amount of wastes are recycled, but the majority are dumped in landfills. Geosynthetics are durable, chemical resistant, corrosion resistant, and are high strength. Due to an increase in population, urbanization, and industrialization, the need for waste management activities is expected to increase during the forecast period.
APAC is the largest and fastest-growing amongst other regions in the geosynthetics market
APAC dominates the geosynthetics market in 2020. The region is growing at a faster rate which accounts for the high growth of the geosynthetics market. The emerging market of India, China, and other countries of the APAC are growing and boosting the regional market growth.
The market growth in the region is driven by rapidly increasing population, urbanization, and industrialization. Growing investment for the development of public infrastructure and demand for solid waste management system are the major factors driving the geosynthetics demand in the region.
The geosynthetics market report analyzes the key growth strategies, such as new product launches, expansions, joint ventures, agreements, partnerships, and mergers & acquisitions to strengthen their market positions.
The key players in this market are SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A ( Italy), Berry Global, Inc ( US), and AGRU America, Inc ( US).
Market Dynamics
Drivers
- Government Policies Boosting Infrastructure Growth Across the Globe
- Evolving Environmental Protection Regulations and Standards to Boost Future Growth of Geosynthetics
- Cost Effectiveness
Restrains
- Volatile Raw Material Prices
- Lack of Quality Control Across Developing Countries
Opportunities
- Developing Countries Will Boost the Future Growth
- Rising Regulatory Standard Fueling Growth
- Opportunities Associated with Oil & Gas and Mining Industries
Companies Mentioned
- Ace Geosynthetics
- Ach Foam Technologies
- Agru America Inc.
- Asahi Geotechnologies Co. Ltd.
- Belton Industries Inc.
- Carthage Mills
- Cetco Lining Technologies
- Contech Engineered Solutions LLC
- Gundle/Slt Environmental Inc. (Gse)
- Hanes Geo Components
- Huesker Synthetic GmbH
- Kaytech Engineered Products
- Low & Bonar plc
- Naue GmbH & Co. Kg
- Officine Maccaferri
- Propex
- Royal Tencate Nv
- Strata Systems Inc.
- Tenax Group
- Tensar Corporation
For more information about this report visit https://www.researchandmarkets.com/r/2bd6hc
