Global Geomembrane Market Size to Reach USD 3.67 Billion in 2032 | Emergen Research

Vancouver, Oct. 17, 2023 (GLOBE NEWSWIRE) -- The global Geomembrane Market size was USD Billion 2.10 in 2022 and is expected to register a steady revenue CAGR of 5.8% during the forecast period, according to latest analysis by Emergen Research. Increasing funding for construction of infrastructure, such as canals, water reservoirs, and transportation systems, is a key factor driving market revenue growth. Geomembranes are created by the use of impermeable geosynthetic material constructed of thin and continuous polymer sheets. Geomembranes stop contaminants or hazardous compounds from leaking into the environment, by forming an impermeable barrier. In addition, geomembranes are frequently utilized as confinement barriers for irrigation storage needs and potable water storage requirements to stop leaks. In projects including mining, sewage treatment, and canal building, geomembranes are used together with other geosynthetic materials to control the flow of fluid and provide containment.

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For many important sectors, geosynthetic products are now an essential component of the construction process. Their major advantages over conventional alternatives are their cost and physical features. Geosynthetics are constructed from different synthetic polymers and combined with rock or soil to improve the stability of terrain. These products are employed in civil, mining, and transportation infrastructure projects because these can be utilized to address various engineering issues relating to soil encouragement, erosion control, and containment.

However, installing geomembranes can be difficult since these need both expert labor and specialized equipment, which could cause delays and raise costs if done incorrectly. Budgetary constraints may also arise from high price of materials for geomembranes such as High-Density Polyethylene (HDP)E and Polyvinyl Chloride (PVC), especially for large-scale applications. These are major factors, which could restrain market revenue growth. 

Scope of Research

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Major Companies and Competitive Landscape

The global geomembrane market is consolidated, with many companies accounting for majority market revenue. Major companies are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective geomembranes. Some major companies included in the global geomembrane market report are:

• Minerals Technologies Inc.
• Geofabrics Australasia Pty Ltd.
• Carthage Mils
• Naue GmbH & Co. KG
• JUTA Ltd.
• Solmax International Inc.
• Officine Maccaferri Spa
• Bridgestone Americas, Inc.
• Carlisle SynTec Systems
• The International Geosynthetics Society

Strategic Development

• On 20 December 2021, Seaman Corp. introduced a new fireproof geomembrane called XR-FR in its XR Geomembranes line of goods. The XR-FR product is suitable for use in above ground combustible and explosive liquid tank secondary containment. It complies with ULC S668, a Canadian ’Standard for liners used for secondary containment of aboveground flammable and combustible liquid tanks‘. Liquids that are flammable contain ethanol or methanol, explosive liquids, and combustible liquids that contain up to 5% Biodiesel (B5) can all be used with Class IA secondary container liners.

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Some Key Highlights from the Report

• The tunnel liners & civil engineering segment is expected to account for largest revenue share in the global geomembrane market during the forecast period. This is because geomembranes are vital for providing waterproof and moisture barrier solutions, due to which these are used in tunnel lining and civil engineering projects. Geomembranes are installed as liners inside tunnels and other underground constructions to stop water from getting in and preserve the construction's structural integrity. Furthermore, geomembranes are essential in civil engineering to increase the longevity and safety of underground structures because these can successfully isolate the tunnel from groundwater, guarantee long-term durability, and prevent damage from leaks.
• The High-Density Polyethylene (HDPE) segment is expected to register steadily fast revenue growth rate in the global geomembrane market during the forecast period. This is attributed to increasing use of HDPE as these are the most popular geomembrane and first choice for lining projects due to their longevity, robust Ultraviolet (UV) resistance, and relatively low material cost.  HDPE geomembranes are frequently chosen for exposed applications, such as landfill, reservoir covers, pond and canal liners. Furthermore, HDPE geomembrane can withstand higher temperatures as these are additionally strong due to their weight.
• The Asia Pacific market accounted for largest revenue share in the global geomembrane market in 2022 owing to rising demand from the agriculture sector. Farmers frequently employ HDPE liners to line ponds and dams as these offer dependable and affordable containment options. Geomembranes are also utilized in nurseries for several purposes such as soil confinement and waterproofing.  
• On 10 September 2021, Dow launched INTREPID 2499 Bimodal HDPE Resin for geomembranes. Compared to conventional, established materials, this resin will provide superior performance and an extended lifespan in highly oxidative situations. This premium high-density polyethylene resin has remarkable resistance to high temperatures, chemicals, corrosion, Slow Crack Development (SCG), tearing, punctures, and abrasion due to its complex molecular architecture.

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Emergen Research has segmented the global geomembrane market on the basis of type, technology, end-use, and region:

• Type Outlook (Revenue, USD Billion; 2019–2032)
  • High Density Polyethylene (HDPE)
  • Ethylene Propylene Diene Monomer (EPDM)
  • Low Density Polyethylene (LDPE)
  • Polypropylene (PP)
  • Polyvinyl Chloride (PVC)
  • Others
• Technology Outlook (Revenue, USD Billion; 2019–2032)
  • Extrusion
  • Calendering
  • Others
• End-use Outlook (Revenue, USD Billion; 2019–2032)
  • Water Management
  • Mining & Construction
  • Waste Management
  • Tunnel Liners & Civil Engineering
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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