ID: MRFR/CnM/7337-HCR | January 2023 | Region: Global | 185 Pages
The global geosynthetics market is estimated to generate a revenue of USD 23.92 billion by the end of 2028. Furthermore, the report predicts the market to thrive at a healthy CAGR of 6.75% during the assessment era.
$23.92 Billion
6.75%
North America
2021-2028
As per the MRFR reports, the global geosynthetics market is estimated to generate a revenue of USD 23.92 billion by the end of 2028. Furthermore, the report predicts the market to thrive at a healthy CAGR of 6.75% during the assessment era.
Geosynthetics refer to products used to stabilize terrain. They are usually polymeric products used to resolve civil engineering issues. These products include geonets, geosynthetic liners, geogrids, geotextile, geo-composite, and geomembranes. These products are made of polyester, polystyrene, polypropylene, polyvinyl chloride, and polyethylene. Geosynthetics system is used in various geotechnical and civil engineering applications, including coastal engineering, dams, canals, retaining structures, railroads, reservoirs, embankments, airfields, and roads. The global market for geosynthetics has witnessed a massive surge in demand in the last few years. The market's growth is primarily credited to the expanding construction industry worldwide. Furthermore, the factors such as industrialization, rapid urbanization, population growth, and changing demographics across developing and developed countries are also projected to boost the market's growth over the forecasted era. Moreover, the presence of several rules and regulations concerning the usage of geosynthetics to enhance the safety of the infrastructure and alleviate terrain is another crucial aspect catalyzing the market's growth in the coming years.
Key Players
Pricing Analysis and Regulatory Framework
The average price for geosynthetics varies from USD 0.15 to USD 4.0 per square meter. The price of the geosynthetics varies based on material and type. Furthermore, fluctuating raw material prices are expected to have an impact on the price of geosynthetics.
The standard tests for geosynthetics have been established by the American Society for Testing and Materials (ASTM).
Market Drivers
Market Restraints
Segmentation
By Type
By Material
By Application
By Region
Regional Analysis
Report Attribute/Metric | Details |
---|---|
Market Size |
|
CAGR | 6.75% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Type, Material, Application, |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Low & Bonar PLC (UK) – Bontec, Tensar Geosynthetics (China) Ltd (China), Thrace Group (Greece), Maccaferri S.p.A. (Italy) – MacDrain, MacMat, MacLine, MacNet, Gorantla Geosynthetics Pvt Ltd. (India), Polymer Group Inc. (US), Geotrst Environmental Science Technology (China), NAUE GmbH & Co. KG, Germany), SKAPS Industries (US), ABG Ltd (UK), Texel Technical Materials, Inc. (US) |
Key Market Opportunities | Recovering growth of the construction industry in the US |
Key Market Drivers |
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The Geosynthetics market can expand at 6.75% CAGR by 2028.
By 2028, the Geosynthetics market value can exceed USD 23.92 billion.
Low & Bonar PLC (UK) – Bontec, Thrace Group (Greece), and Tensar Geosynthetics (China) Ltd (China) are some reputed names in the Geosynthetics market.
The surge in need for geotextile can promote the Geosynthetics market.
The presence of alternative solutions can restrain the Geosynthetics market.