Farmington, Jan. 09, 2023 (GLOBE NEWSWIRE) -- The Global Geosynthetics Market Size Is Estimated At USD 9.9 Billion In 2022 And Is Projected To Reach USD 13.2 Billion By 2026, Growing At A CAGR Of 6.0% From 2022 To 2030. Geosynthetics market demand will be driven by growth in the construction industry and more uses in erosion control, landfills, separation, and filtration. These are some polymer-based materials that are often used to improve, change, or change the behaviour of different civil engineering tasks. Due to their high tensile strength and ability to improve subsurface drainage, geosynthetic materials have become a new way to build roads, railways, and drainage systems. Geosynthetics do their most important jobs when they drain, filter, separate, protect the environment, and make and strengthen fluid barriers.
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Recent Developments:
- In June 2021, SOLMAX acquired TenCate Geosynthetics, a Netherlands-based supplier of geosynthetics and industrial fabrics. The acquisition is expected to enhance the company's innovative capabilities and global reach. The acquisition is expected to bring additional business opportunities to the company in containment and infrastructure applications in the mining, transportation, energy, waste management, and civil engineering sectors.
- In June 2019, SOLMAX expanded its operations by opening a new geosynthetics facility in Nevada, USA. This expansion is expected to give the company a competitive edge by developing innovative and more reliable products to meet the needs of various end-use industries.
- In July 2020, NAUE developed the first biodegradable nonwoven geotextile product under the brand Secutex Green. The product was developed from organic and renewable materials for civil engineering applications.
- In March 2021, Fibertex Nonwovens has $48 million to expand the capacity of its manufacturing facility in the United States. The new facility is expected to have a spunlace line focused on sustainable product development to meet the growing demands of the North American market.
Segmentation Analysis:
Types Insights
Geotextiles are fabrics made from fibres that don't break down over time, let water and air through, and last a long time. In geotechnical engineering, geotextiles are used in heavy construction, building, paving, hydrogeology, and environmental engineering. They are also used for drainage and erosion control, paving and repairs, soil reinforcement and stabilisation, embankments, asphalt overlays, and other things.
Application Insights
The largest part of the market is made up of waste management. Geosynthetics are used in waste management to do things like filtering, separating, draining, making a barrier, and adding strength. It involves collecting, moving, treating, recycling, and getting rid of residential, industrial, and commercial waste in the right way. Geosynthetics are the only way to stop contaminated gas and liquid from seeping into groundwater, rivers, aquifers, and other sources of fresh water. During the forecast period, more waste management activities are likely to be needed because more people are living in cities and more factories are being built.
Regional Outlook:
During the next few years, North America will have the largest share of the geosynthetics market. Copper, silver, zinc, bauxite, and gold are all important metals that are in high demand. This has helped mining grow in the United States, which has increased demand in regional markets. Due to the growing need for metals in industries like electronics, cars, and building, most companies have been expanding their mineral exploration projects. The geosynthetics market will be driven by the growing number of infrastructure projects and the speed with which they are being built. Increased technological progress and more research and development (R&D) have led to the development of materials that require less maintenance. This will increase demand in the local industry.
Europe is expected to be the second largest geosynthetics market in terms of revenue. This is because more people are becoming aware of the need for green infrastructure. Infrastructure development in Europe could be sped up by the need for more homes. Green infrastructure is becoming more popular as people become more aware of rising carbon emissions and care more about the environment. In Germany, strict laws about how to handle industrial waste and how the municipal sector works could increase demand for geomembranes.
During the forecast period, Asia-Pacific is expected to grow a lot because there will be a lot of new infrastructure innovations and developments. The demand for energy-efficient buildings in the region could grow if people had more money to spend and the government put more money into industrial and commercial building projects.
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Scope of Report:
Market Drivers:
Rapid urbanization and the fast growth of the world's population both lead to more liquid and solid waste. As people become more aware of environmental issues, the need for projects that deal with water and trash in the right way grows. Geotextiles are used as garbage tops to stop liquid from moving into landfills. This cuts down or stops the amount of trash made after a landfill closes and the medical costs that come with it. People are becoming more worried about big and widespread water pollution, so geosynthetics are being used more and more in flood prevention projects.
Market Challenges
The price and supply of raw materials are the main factors that affect the price of finished goods. The price of crude oil affects many of the materials used to make geotextiles, such as polyethylene, ethylene propylene diene, polypropylene, and PVC polymers. Changes in the price of petroleum products have a direct effect on the cost of the raw materials used to make geotechnical parameters. But because of the current epidemic, almost every government has limited travel both within their own country and to other countries. Because of this, there has been a big drop in the need for fuel for cars, which has had an effect on the price of crude oil.
Market Opportunity:
The resource sector is still one of the most important users of geosynthetics. The need for minerals and metals in Asia is expected to drive the mining industry. China is the biggest producer of metals, rare earth metals, copper, gold, coal, and gypsum. India, on the other hand, has put a lot of money into the sector. Also, more and more big mining companies from all over the world are choosing to mine in South America. Peru, Brazil, and Chile are all important countries with a lot of mining potential. Over the last five years, there has been a rise in foreign company investment in these countries. The geosynthetics market is expected to grow over the next few years because mining operations are using better separation techniques more and more.
Key Segments Covered:
Top Market Players:
GSE Holdings, Inc., Koninklijke Ten Cate N.V., Officine Maccaferri S.p.A., NAUE GmbH & Co. KG, Propex Operating Company, LLC, Low and Bonar PLC, TENAX Group, Fibertex Nonwovens A/S, Global Synthetics, AGRU America, TYPAR, HUESKER Group, PRS Geo-Technologies, Tensar International Corp., Solmax, and Others.
Geosynthetics Market by Types:
- Geotextiles
- Geomembranes
- Geogrids
- Geocomposites
- Geonets
- Others
Geosynthetics Market by Applications:
- Water/Wastewater Management
- Transportation Infrastructure
- Civil Construction and Mining
- Energy
- Others
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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