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Global Geosynthetics Market to Grow at a CAGR of 6.10% During 2022-2027, Driven by the Rapid Technological Advancements

According to a new report by EMR titled, ‘Global Geosynthetics Market Report and Forecast 2022-2027’, the market attained a value of USD 14.2 billion in 2021. The industry is further expected to grow at a CAGR of 6.10% in the forecast period of 2022-2027 to reach a value of USD 20.3 billion by 2027.

The global geosynthetics industry is driven by the growing investments in infrastructure development activities across residential and commercial sectors. In this regard, geotextiles are used for drainage and erosion control, pavement repairs, soil reinforcements and stabilisation, and embankments, among others. Also, geosynthetics in construction activities reduces the rutting during construction of unpaved roads. During road construction, the reinforcements can be vulnerable to high dynamic stresses during the installation of coarse-grained cover soils and base course materials. Therefore, in order to prevent any damage from the high stresses, geosynthetics are used in road construction. In addition, geosynthetics is also used in coastal protection under environmental activities. In this regard, geosynthetic liners are used as replacements for either compacted clay liners or geomembranes, or they are used in a composite manner to augment the more traditional liner materials. These factors are expected to support the market growth in the forecast period.

The growing investments by the leading market players in mergers and acquisitions are expected to support the market growth in the forecast years. For instance, in March 2021, Solmax, a leading geosynthetics manufacturer, announced the successful acquisition of Propex, a leading North American geosynthetics vendor, which will help reinforce the former’s position in the geosynthetics industry. Furthermore, the growing demand for geosynthetic products in wastewater treatment applications is expected to support the market growth in the forecast years. Some of the major market players in the wastewater treatment industry include Dow Water and Process Solutions, part of the Dow Inc. (NYSE: DOW), and Ecolab Inc. (NYSE: ECL).

Market Analysis by Type, Application, and Region:

  • The market, on the basis of type, can be divided into geotextiles, geomembranes, geogrids, geonets, and geocells, among others.
  • The major applications of geosynthetics include water/wastewater management, transportation infrastructure, civil construction and mining, and energy, among others.
  • The regional markets for geosynthetics include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for geosynthetics is being driven by the growing investments in infrastructure development activities. 
  • The rapid advancements in technology are also aiding the growth of the geosynthetics industry.
  • The increased research and development activities by the leading geosynthetics manufacturers are also contributing to the market growth. 
  • The growing availability of innovative solutions and the heightened demand for geosynthetics across various sectors are further adding to the market expansion.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for geosynthetics for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the types, applications, and regions of geosynthetics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global geosynthetics market are Agru America Inc., Avintiv Inc., GEO NATPET, HUESKER Synthetic GmbH, and Asahi Kasei Advance Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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