ALBANY, New York, May 10, 2019 /PRNewswire/ -- The global soil stabilization materials market has a highly fragmented vendor landscape, Transparency Market Research (TMR) estimates. Some of the key players in the market include Ube Industries, Ltd., Adelaide Brighton Limited, Tensar International Corporation, Inc., Koninklijke Ten Cate nv, Graymont Limited, SNF Holding, and Lhoist and Thrace Group. In order to gain a competitive edge, the key players in the market are relying on expansion of product portfolios through merger & acquisitions, partnerships, and research & development activities. These initiates have increased the level of competition in the global soil stabilization materials market.
TMR's report based on the global soil stabilization materials market estimated to expand at a CAGR of 6.5% by the forecast period from 2018 to 2028. With the vigorous CAGR, the market is expected to attain a value of US$25 bn by the end of 2028. Based on the applications, the industrial segment's sub-segment, the roads & runways segment is expected to hold for a substantial share and to expand at an impressive CAGR of more than 7% over the forecast period.
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Based on the region, the soil stabilization materials market is segmented into North America, Latin America, China, Japan, Western Europe, Eastern Europe, Middle East & Asia, and SEAP. Of these, North America, China, and Western Europe are estimated to collectively account for more than 70% of the overall share in the soil stabilization materials market in 2017.
Increasing Need for Infrastructural Safety Boosts Market's Growth
Soil stabilization involves alteration of the soil properties by using foreign materials or methods to increase strength and capacity of the soil. Along with strength, the bearing capacity of soil is also increased by the use of stabilization methods as it reduces risks of earthquakes and other land damages. Additionally, adoption of the soil stabilization materials and methods before construction reduces the need of energy, cost, and time, which reduces overall cost of construction.
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The soil stabilization materials market is witnessing growth on the back of numerous government initiates for infrastructural development. Growing investment in the public and private infrastructural development is impacting soil stabilization materials demand substantially.
Booming construction industry mainly across the developing countries is one of the key factors boosting soil stabilization materials market. Rising construction of public infrastructure and enhancement in the facilities by road transportation has triggered demand for the soil stabilization materials. Additionally, growing demand for these materials is creating numerous opportunities for growth and acquiring considerable profits. Thus, numerous companies are entering in to the market with faster and advanced techniques, which in turn, is driving growth of the global soil stabilization materials market.
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Widening Applications across Agriculture Sector to Offer Opportunities for Growth
Moreover, soaring demand for soil stabilization materials across the agriculture sector to enhance productivity. Growing population coupled with demand for improved quality food and grains is encouraging use of the chemicals such as fertilizers and soil stabilization materials. This trend of using soil stabilization materials across agriculture is expected to remain same over the forecast period and impact positively on the growth of the global soil stabilization materials market.
In addition, the rising investments in the governmental projects such as airports, construction of railways, ridges are offering numerous lucrative growth opportunities for growth of the soil stabilization materials market in the coming years. Additionally, the developing countries across the Asia Pacific are estimated to be lucrative markets for the soil stabilization materials market from business and investment point of view.
This information is encompassed in the report by TMR, titled, "Soil Stabilization Materials Market (Type – Minerals & Stabilizers, Polymers, and Others; Application – Industrial, Non-Agriculture, and Agriculture) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028."
For the study, the Soil Stabilization Materials Market has been segmented as follows:
- Minerals & Stabilizers
- Fly Ash
- Portland Cement
- Agricultural Waste
- Sludge & Slag
- Roads & Runways
- North America
- Latin America
- Western Europe
- Eastern Europe
- Middle East & Asia
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