Geosynthetics Market Size to Worth Around USD 51.63 BN by 2030

Ottawa, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The global geosynthetics market size was accounted at USD 30.26 billion by 2022. Terrain stabilization products are referred to as geosynthetics. Typically, polymeric goods are utilized to address civil engineering problems. These goods include geomembranes, geotextiles, geogrids, geonets, and geosynthetic liners. polyvinyl chloride, Polyester, polystyrene, polypropylene, and polyethylene are the materials used to make these goods. Numerous geological and civil engineering uses, such as coastal management, retaining walls, dams, airfields, canals, railroads, reservoirs, embankments, and roadways, utilize geosynthetics systems. The last several years have seen a dramatic rise in the need for geosynthetics on the international market.

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The global expansion of the construction sector is generally credited with driving the industry's development. Additionally, the market is expected to increase at a faster rate throughout the predicted period due to factors like modernization, fast urbanization, population expansion, and shifting demographics in both developed and developing nations. Another important factor driving the market's expansion in the next decades is the existence of numerous laws and regulations governing the use of geosynthetics to improve the safety of infrastructures and level the landscape.

Key Insights:

• Asia Pacific dominated the market with 41.9% revenue share in 2021.
• The geotextiles product segment has accounted revenue share of 48.5% in 2021.
• The geomembranes segment is growing at a CAGR of 11.4% from 2022 to 2030.
• The water/wastewater management application segment is expanding at CAGR of 10.8% between 2023 to 2030.

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Regional snapshots:

In 2022, the geosynthetics market in the United States was the furthermore market sector. During the forecast timeframe, the sector is expected to have a significant expansion, driven by rising US infrastructure investment expenditures and strict building restrictions. The market for geotextiles within the area is anticipated to rise as a result of the enhancement of public infrastructures and rising construction activity. With a share of the market of roughly 38%, the area had the highest contribution. It is anticipated that this market will expand at the quickest rate, driven by rising infrastructure building spending in India, China, Malaysia, and Indonesia. Due to the economic and political unrest in the continent, the construction sector in North America is predicted to increase somewhat. Increasing expenditures in construction and infrastructure developments, especially in preparation for mega-events like the FIFA World Cup 2022 and the World Expo 2020 in Dubai in Qatar, are credited with driving the expansion of the market sector.

Report Scope

Market dynamics:

Drivers:

Rising amounts of liquid and solid waste are a result of both rapid urbanization and the world's constantly expanding population. The need for programs that appropriately handle water and garbage is increasing as a result of growing environmental consciousness. Geotextiles are used as garbage tops to inhibit liquid movement into landfills by reducing or preventing the post-closure production of waste and associated medical expenditures. Geosynthetics are being used more frequently in a variety of flood mitigation operations as a result of the growing public concern over significant and pervasive water contamination. The use of geosynthetics liners in sewage treatment lagoons at sewage treatment facilities to protect water supplies, such as rivers, lakes, ponds, reservoirs, and aquifers, is likely to increase the need for geosynthetics throughout the predicted period.

Restraints:

The main variables influencing end-product costs are the costs and supply of raw materials. The majority of raw materials needed for geosynthetics, such as polypropylene, polyethylene, polyvinyl chloride, and the ethylene propylene diene monomers, are sensitive to changes in crude oil prices. The cost of the materials needed to create geosynthetics is significantly affected by changes in the price of oil products. However, practically every government has restricted both domestic and foreign travel as a result of the present epidemic. As a result, there has been a major drop in the need for transportation fuel which has had an impact on oil prices.

Opportunities:

The resource industry continues to be one of the geosynthetics' largest customers. The need for minerals and metals in Asia is expected to fuel the mining industry. In contrast to India, which has witnessed significant investments in the industry, China is the world's top producer of metals, rare earth metals, copper, gold, coal, and gypsum. Additionally, major international mining firms are increasingly preferring to mine in South America. Important countries like Peru, Brazil, and Chile have large mining capacities, and foreign firm investment has increased there during the past five years. The rising usage of better separation techniques in mining operations is likely to drive growth in the geosynthetics marketplace throughout the predicted time frame.

Challenges:

The prices and availability of raw materials are the primary factors affecting finished product pricing. The price of crude oil has an impact on the majority of raw materials used to make geosynthetics, including polypropylene, polyethylene, ethylene propylene diene, and polyvinyl chloride monomers. Changes in the price of petroleum products have an immediate impact on the price of the raw materials required to develop geotechnical characteristics. However, almost all governments have imposed restrictions on internal and international travel as a result of the current pandemic. The demand for transportation fuel has significantly decreased as a result, which has affected crude oil prices.

Report highlights:

A flexible fabric comprised of polymer filaments or fibers is called geotextile. Polypropylene has become the most widely used polymer for making geotextiles. Geosynthetics, which can be interwoven or disintegrated, have an open, pore structure. Due to its high tensile toughness and exceptional hydraulic and mechanical qualities, the geotextile category held the greatest share of the worldwide geotextiles industry. In general, polyvinyl chloride (PVC), polyethylene, and polypropylene are used to create geomembranes, which are polymer layers. Due to their great chemical inertness and longevity, additional performance was most frequently employed in landfill operations. Made of polyethylene, polypropylene, or polyester, geogrids are usually applied for reinforcing purposes. High-density polypropylene is typically used to make geonets, which are applied to drainage channels.

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Recent developments:

• SOL MAX acquired TenCate Geosynthetics, a Dutch manufacturer, and distributor of geotextiles and industrial fabrics, in June 2021. The merger should increase the company's ability to grow and influence the world. The acquisition is expected to provide the company with additional commercial opportunities in container and infrastructure solutions for the mining, waste management, transportation, and civil engineering industries.
• In June 2019, SOL MAX will grow its enterprise by constructing a new geotextiles facility in Nevada, the United States. The work is projected to give the company a competitive advantage by producing new, more reliable products to cater to several end-use sectors.
• In July 2020, NAUE produced its first recyclable nonwoven geosynthetic fabric under the trademark Secutex Green. The product is constructed from sustainable and natural materials for use in structural engineering.
• TriAx geogrid, a product used in the transportation sector, has recently undergone improvements thanks to Tensar International Company. TriAx geogrid considerably improves soil stabilizing effectiveness and road homogeneity.
• A new production facility for Strata System was inaugurated in Gujarat, India, in February 2019. To fulfill the rising need for geosynthetic reinforcement, the company intends to create HDPE geocells and StrataGrid geogrid. It is projected that the new factory will have the sufficient manufacturing capacity to meet the needs of both the domestic geotextiles market in India and overseas exports.
• Fibertex Nonwovens will invest USD 49 million in March 2021 to increase the production capacity of its US manufacturing facility. The new plant is planned to have a spunlace operations line that focuses on sustainable product design to meet the rising demand from the North American market.
• In May 2019, NAUE added new production lines to its facility in Adorf, Germany, expanding its geogrid production capability.
  
  

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