Geosynthetics Market to Generate US$ 26.89 Bn by 2029 Owing to the Expansion of Construction Industry Globally | Future Market Insights, Inc.
Infrastructural developments boost geosynthetics market. The geosynthetics market growth include the rapid infrastructure development in emerging economies, such as India and Brazil, is anticipated to fuel the market growth over the forecast period
NEWARK, Del., Sept. 20, 2022 /PRNewswire/ -- As per Future Market Insights' latest industry analysis, the global geosynthetics market is anticipated to grow with a robust CAGR of 10.1% with a year-on-year growth of 10.16% reaching US$ 13.67 Bn in 2022 and surpassing US$ 26.89 Bn by 2029. There is a surge in the adoption of geosynthetics in a large range of applications such as separation, filtration, and reinforcement. The historical analysis of the geosynthetics market registered a CAGR of 9.0% from 2014 to 2021.
As per FMI analysis, in the first half of 2022, the BPS points in the growth outlook observed in the geosynthetics market reflect a spike of 20 units as compared to the estimated overall half. However, as compared to the first half of 2021, the market is expected to gain a spike of 70 BPS.
On the basis of regional analysis, Asia Pacific Excluding Japan (APEJ) is anticipated to continue the most lucrative geosynthetics market, garnering around 36.1% of the total market share in 2022. Growth in the market is anticipated to be fueled by expanding the construction industry, increasing government support, and the presence of leading geosynthetics market players.
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Key Takeaways
- Over the past few years, geosynthetics have evolved from new engineering materials with limited technical references, to state-of-practice materials with scores of designs and technical tools. These high-tech tools are being utilized in various sectors such as civil engineering, construction, agriculture, and mining industries to stabilize the terrain.
- In the first half of the assessment period, the growth of the market is attributed to rapid adoption in different applications, growing investments in construction & infrastructure projects, increasing government subsidies, and support, and rising environmental concerns.
- Due to expansion in the construction industry, rising government investment in infrastructure development, and manufacturing sector development are the predominant factors influencing the growth of the market.
- Owing to the surging use of geosynthetic products such as geotextiles, geomembranes, and geogrids for containment, filtration, reinforcement, and separation applications is predicted to elevate sales in the geosynthetics market over the projected period.
- Some of the vital key trends observed in the market incorporate expansion of production capacities and upgradation of their product portfolio. In addition to that, major key players are focusing on partnerships, collaborations, the establishment of new plants, acquisitions & other activities.
- The major factor driving growth in the geosynthetics market is its extensive application across several end-use industries. Moreover, growing investments in infrastructural development, rising environmental concerns regarding soil erosion, and increasing government support are some factors driving sales in the market.
- Polymers like polypropylene, polyester, and polyethylene are one of the common ingredients used in the formation of Geosynthetics which are comparatively less prone to decay and corrosion. These products are ideal for solving engineering problems. They are mostly used for stabilizing soil (terrain) during construction activities due to their numerous functional properties such as mechanical response, filtration ability, and chemical resistance.
Competitive Landscape
The global geosynthetics market is considered highly competitive in nature due to the presence of leading market players who are focused on continuously expanding and upgrading their product portfolios. In addition to that, they have also adopted several organic and inorganic growth strategies such as partnerships, collaborations, price reduction, acquisitions, and establishment of new facilities in order to gain a competitive edge in the market.
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More Insights into the Geosynthetics Market
According to FMI studies, China is expected to dominate the global geosynthetics market by accounting for about 36.1% of the total market share in 2022. Surging growth in the country is fueled by the rapid expansion of end-use industries, the availability of low-cost products, the heavy presence of leading market players, and the increasing need for preventing soil erosion.
China is expected to exhibit lucrative growth opportunities as it is one of the leading producers and consumers of geosynthetics in the world. Growth in the public infrastructure sector in the country will propel sales in the market over the forecast period.
Geosynthetics Market by Category
Product Type:
- Geotextile
- Geomembrane
- Geogrid
- Geonet
- Geocomposite
- Geosynthetic clay liner
- Others
Material Type:
- Polyethylene (HDPE/LLDPE)
- Polypropylene (PP)
- Polyester
- Natural fibers
- Others
Primary Application:
- Separation
- Drainage & filtration
- Reinforcement
- Containment
End-use:
- Roads (paved & unpaved)
- Railways
- Retaining walls
- Waterworks and waste treatments
- Landfill & erosion control
- Others
Attributing to the ongoing developments in road and railroad networks all over India, a positive outlook has been displayed for the geosynthetics market between 2022 and 2029. Increasing demand for high-performance and functional geosynthetics in road construction, along with the growing need for preventing excessive soil erosion and rising government initiatives in public infrastructure are some of the factors that are expected to drive the growth of the geosynthetics market in the country.
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Table of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
3. Market View Point
3.1. Macro-Economic Factors
3.2. Forecast Factors & Relevant Impact
4. Global Geosynthetics Market Analysis 2014-2021 and Forecast 2022-2029
4.1. Introduction
4.1.1. Market Volume Projections
4.1.2. Market Size and Y-o-Y Growth
4.1.3. Absolute $ Opportunity
4.2. Value Chain Analysis
4.3. Pricing Analysis
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Report: Geosynthetics Market Size – 2022-2029
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