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Geosynthetics Market

Geosynthetics Market

Geosynthetics Market - Global Industry Assessment & Forecast

Number Of Pages # Pages:

146

Base Year:

2022

Date

Dec - 2023

Format:

PDF XLS PPT

Report Code:

VMR-2355

Segments Covered
  • By Type By Type Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Others
  • By Application By Application Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Others
  • By Region By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Snapshot
Base YearBase Year: 2022
Forecast YearsForecast Years: 2023 - 2030
Historical YearsHistorical Years: 2017 - 2021
Revenue 2022Revenue 2022: USD 10.3 Billion
Revenue 2030Revenue 2030: USD 17.0 Billion
Revenue CAGRRevenue CAGR (2023 - 2030): 6.50%
Fastest Growing Region Fastest Growing Region (2023 - 2030) Asia Pacific
Largest Region Largest Region (2022): Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost) Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries) Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report Country/Region-specific Report
  • Go To Market Strategy Go To Market Strategy
  • Region Specific Market Dynamics Region Specific Market Dynamics
  • Region Level Market Share Region Level Market Share
  • Import Export Analysis Import Export Analysis
  • Production Analysis Production Analysis
  • Other Others Request Customization Speak To Analyst
Geosynthetics Market Share

The global Geosynthetics Market is valued at USD 10.3 Billion in 2022 and is projected to reach a value of USD 17.0 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 6.50% between 2023 and 2030.

Premium Insights

Due to their great tensile strength and ability to create subsurface drainage, Geosynthetics materials have arisen as an additional component in railroads, drainage systems, and road building. Geosynthetics' primary roles include drainage, separation, filtration, environmental protection, fluid barrier reinforcement, and reinforcing. Geosynthetics are artificial goods that are used to stabilize the earth or foundation. These are polymer products developed to suit the demands of civil engineering. The main product categories are geogrids, geonets, geofoam, geotextiles, geomembranes, and Geosynthetics clay. Because of their polymeric nature, the goods are appropriate for usage in the earth where lasting strength is required. These can also be used in open spaces.

Geosynthetics Market Size, 2022 To 2030 (USD Billion)

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  • Rapid growth in infrastructure in emerging economies like India and Brazil is expected to drive market expansion during the forecast period.
  • The geotextiles segment is growing segment for application throughout the forecast period 2023 to 2030.
  • In 2022, the Asia-Pacific region is the dominant area, with a 40.60% share of the Geosynthetics market.
  • During the projection period, North America is expected to experience much faster revenue growth.

Top Market Trends

  1. Geosynthetics are utilized to strengthen, separate, and stabilize road and pavement foundations. These chemicals are also employed in subsurface drainage systems for dewatering, road base, and structure drainage. Growth in the Asia-Pacific construction industry is likely to be a key driver of Geosynthetics market growth during the forecast period.
  2. Rapid population expansion and urbanization are contributing to rising levels of liquid and solid waste worldwide. As environmental awareness expands, so does the demand for proper waste and water management initiatives. These encouraging policies have aided market growth and attracted investment in the Keyword sector.
  3. The mining industry is a major user of Geosynthetics. The need for minerals and metals in Asia Pacific should fuel the mining sector. China is a significant producer of rare-earth metals, copper, gold, coal, limestone, and iron and steel, while India's iron and steel industry has seen significant investment.
  4. Due to the growing requirement for effective water usage and groundwater remediation, the demand for geo-membrane is also expanding in canal lining applications. Various Asia-Pacific countries, such as India, China, and Uzbekistan, are driving the most demand for geo-membranes for canal lining applications.
  5. Geonets and geocells are important in fostering vegetative growth and providing coastal protection, which helps to reduce soil erosion. Furthermore, current soil preservation projects in various economies such as South Africa, Canada, Spain, and India are likely to propel the market throughout the forecast period.
  6. Extreme outflow losses from canals have exacerbated drainage issues. Geosynthetics are extremely effective at preventing seepage in irrigation and other development projects. Deep patching is a type of road repair that is commonly utilized on low-volume roads in the Pacific Northwest. It is a low-cost mitigation strategy for settling and shallow landslides. Deep patches may be used to spread and slow the growth of roadway shifts over fast-moving landslides.

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Economic Insights

Geosynthetics are frequently employed in infrastructure projects, including roads, bridges, and dams. Economic downturns can result in decreased government and private investment in infrastructure projects, reducing demand for Geosynthetics. In times of economic distress, purchasers may be more price-sensitive and choose less-expensive alternatives to Geosynthetics, even if these choices are less lasting or effective. Currency changes might also have an impact on the growth of the Geosynthetics market. If the value of the local currency falls, imported synthetic materials may become more expensive, limiting demand for these items.

Market Segmentation

Geosynthetics The global Geosynthetics market can be categorized into Type, Application, Region. The Geosynthetics market can be categorized into Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Others based on Type. The Geosynthetics market can be categorized into Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Others based on Application. The Geosynthetics market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Below tree is interactive. You can click the nodes to get more information.

Based on Product Type

Geotextiles to Lead Maximum Market Share Due to The Superior Performance And Functional Advantages Over Other Materials.

In 2022, the geotextiles segment is poised to dominate the global market for Geosynthetics. The segment led the market due to superior performance and functional advantages over other materials. Polypropylene, polyethylene polyester, and polyamide are the synthetic fibers used to make geotextiles. Natural geotextiles, on the other hand, are gaining importance for short-term use or as temporary reinforcement due to rising knowledge about their eco-friendly features, which is complementing industry expansion. Increased use of geotextiles in construction applications such as railroads, highways, harbors, landfills, and drainage structures to improve soil stabilization, as well as government infrastructure investment, will predict industry growth. The growing awareness of the product's functional advantages over high tensile strength permeability and traditional materials, such as flexibility and superior load-bearing capacity, has increased geotextile penetration in the soil erosion, pavement repair, drainage, road construction, and agriculture industries.

Based on Application

The Waste Management segment Expects Dominion Owing to the Growing Demand for Urbanization, population, and Industrialization.

In 2022, the waste management segment will dominate the Geosynthetics market. Geosynthetics are used in waste management for a variety of applications such as filtering, commercial, separating, barriers, draining, and strengthening. Residential and industrial trash must be collected, transported, treated, composted, and disposed of properly. Geosynthetics are critical for reducing polluting gas and liquid leaks into aquifers, rivers, groundwaters, and other sources of freshwater. The demand for waste management activities is predicted to expand throughout the forecast period as a result of growing urbanization, population, and industrialization, driving revenue growth in the category.

Based on Region

Asia Pacific To Dominate Global Sales Owing To Need For Oil Reinforcement In Residential Construction Foundation

In 2022, the Asia Pacific region emerged as the dominant player in the Geosynthetics market. The increasing need for oil reinforcement in residential construction foundation work in China and India is likely to drive the whole regional market throughout the forecast. Because of rising per capita income and fast urbanization, the construction sector in developing countries such as Asia Pacific is expected to surpass that of established nations. The growing demand for metal from the electronics, automobile, and construction industries has prompted the majority of corporations to expand their mineral exploration projects. The geotextile industry will be driven by rapid industrialization and an increase in current infrastructure projects. Rising technological innovation and active R&D operations have resulted in material creation that requires less maintenance, which will boost regional industrial demand.

The Geosynthetics industry in North America is rapidly growing in popularity. The growing need for metals such as copper, zinc, gold, silver, and bauxite has fueled the rise of the mining sector, which has increased the demand for an effective waste management system. Increasing technological developments and increased demand for metals in the construction industry have led enterprises to invest in mineral exploration projects, which is likely to raise demand for Geosynthetics, boosting market growth in North America.

Competitive Landscape

The global Geosynthetics market is highly competitive, with various key players operating in the industry. Some of the major companies in the market include GSE Holdings, Inc., NAUE GmbH & Co. KG; Koninklijke Ten Cate N.V.; Officine Maccaferri S.p.A.; Low and Bonar PLC; Propex Operating Company, LLC; TENAX Group; Fibertex Nonwovens A/S; AGRU America; TYPAR; Global Synthetics; HUESKER Group; PRS Geo-Technologies, Tensar International, Solmax. These businesses are focusing on research and development in order to create innovative and sustainable products. Furthermore, strategic alliances, mergers, and acquisitions are common in the industry as organizations seek to extend their product offerings and market presence.

The key players in the global Geosynthetics market include - 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, Solmax among others.

Recent Market Developments

  • In November 2022, Secutex Green, a product from the Naue GreenLine, was made from renewable raw resources. Enterprises are increasingly using nonwovens to separate, filter, and fasten in their many forms. The product has proven to be effective, notably in landscaping and gardening.
  • In March 2022, Asahi Kasei Pharma struck an exclusive license deal with VectivBio to develop and commercialize the next-generation GLP-2 analog peptide apraglutide in Japan.
  • In July 2023, Freudenberg started up a new geosynthetics production line in Changzhou, China. It enables Freudenberg to provide Enka Solutions built in China to customers in the APAC area for building, industrial, and civil engineering applications. Freudenberg may now provide finished and semi-finished goods to customers in a variety of technical areas.

Segmentation of the Global Geosynthetics Market

Parameter Details
Segments Covered

By Type

  • Geotextiles
  • Geomembranes
  • Geogrids
  • Geofoam
  • Geonets
  • Others

By Application

  • Waste Management
  • Water Management
  • Transportation Infrastructure
  • Civil Construction
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regions & Countries Covered
  • North America - (U.S., Canada, Mexico)
  • Europe - (U.K., France, Germany, Italy, Spain, Rest Of Europe)
  • Asia Pacific - (China, Japan, India, South Korea, South East Asia, Rest Of Asia Pacific)
  • Latin America - (Brazil, Argentina, Rest Of Latin America)
  • Middle East & Africa - (GCC Countries, South Africa, Rest Of Middle East & Africa)
Companies Covered
  • 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
  • Solmax
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis
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FAQ
Frequently Asked Question
  • The global Geosynthetics valued at USD 10.3 Billion in 2022 and is expected to reach USD 17.0 Billion in 2030 growing at a CAGR of 6.50%.

  • The prominent players in the market are 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, Solmax.

  • The market is project to grow at a CAGR of 6.50% between 2023 and 2030.

  • The driving factors of the Geosynthetics include

    • Growing Construction Industry Shall Drive Market

  • Asia Pacific was the leading regional segment of the Geosynthetics in 2022.