Global Geosynthetics Market is forecasted to register a CAGR of 6.5% between 2019 and 2025 and to be valued at USD 27.5 Billion.
Geosynthetics materials include geotextile, geomembranes, geogrids, geo-composite, geosynthetic liner, and geonets. These geosynthetics materials are made of polypropylene, polyethylene, polystyrene, polyvinyl chloride, and polyester. Geosynthetics system is used in a wide range of civil and geotechnical engineering applications including roads, railroads, airfields, retaining structures, embankments, canals, reservoirs, dams, and coastal engineering.
The global geosynthetics market growth is primarily driven by the expanding construction industry, population growth, rapid urbanization, industrialization, and changing demographics across developing as well as developed countries. The other key factor driving the global market growth is the presence of various rules and regulations pertaining to the usage of geosynthetics to increase the safety of the infrastructure and stabilize terrain. The global construction industry was valued at USD 8.5 trillion in 2018 and is projected to exhibit a CAGR of 4% during the forecast period. Furthermore, the increasing spending on infrastructure development in countries such as India and China is expected to create growth opportunities for market players during the forecast period.
Transport infrastructure represents the key market for geosynthetics. The increasing investments in the expansion of the road network and repair work of highways are expected to lay a robust growth platform for the global geosynthetics market during the forecast period. Furthermore, the increasing investments in the development of railway network in countries such as India, China, South Africa, and in parts of Western Europe to extend the logistics network is expected to fuel the global market growth during the forecast period.
Regulatory bodies across the US and Europe have mandated the use of geosynthetics in landfills and in applications related to waste management, and groundwater due to environmental concern, which consequently is expected to create growth opportunities during the forecast period. The other important application of geosynthetics is in reservoirs, dams, and canals. Geosynthetics are used to eliminate/reduce soil erosion, which leads to slope instability, land loss, and loss in reservoir capacity. The increasing importance of geosynthetic products to reduce soil erosion and provide reinforcement to the soil is expected to boost the global geosynthetics market growth.
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).
- Increasing investments in infrastructure development in Asia-Pacific
- Recovering growth of the construction industry in the US
- Stringent regulations and construction codes set by the regulatory bodies
- Fluctuating raw material prices
- Geotextile: It is a flexible fabric made of polymer fibers or filaments. The most commonly used polymer for fabricating geotextile is polypropylene. Geotextiles can be either woven or non-woven characterized by an open and porous structure. The geotextile segment accounted for the largest share of the global geosynthetics market attributed to its tensile strength, as well as excellent mechanical and hydraulic properties.
- Geomembranes: Geomembranes are polymeric sheets generally made of polyethylene, polyvinyl chloride (PVC), and polypropylene. Geomembranes are most commonly used for landfill applications, primarily owing to the high chemical resistance and durability.
- Geogrids: Geogrids are primarily used for reinforcement application and are made of polypropylene, polyethylene, or polyester.
- Others: The segment includes geosynthetic liners, geo-composites, geocells, geopipes, and geomesh.
- Polypropylene: Polypropylene is the most common polymer used for the fabrication of various geosynthetics. The high demand for polypropylene is attributed to its lightweight, high strength, durability.
- Polyethylene: The polyethylene segment is expected to witness healthy growth during the forecast period. It is mostly used in the manufacturing of geosynthetics owing to its high tensile strength, chemical resistance, and durability.
- Polystyrene: Polystyrene is mainly used in the manufacturing of geofoams.
- Polyvinyl Chloride: Polyvinyl chloride is a synthetic thermoplastic polymer manufactured from vinyl chloride and is used in the fabrication of geomembrane and geopipes.
- Polyester: Polyester is used in the manufacturing of geotextiles and geogrids owing to its high strength and creep properties.
- Separation: Geosynthetics such as geotextile, geomembrane, and geocell are used to separate two layers of dissimilar materials to maintain the integrity of the infrastructure. The increasing investments in construction and repair of the road network in developing nations are likely to support the growth of the segment during the forecast period.
- Reinforcement: Reinforcement is the geosynthetics inclusions within the soil to improve the tensile strength and shear resistance. Geotextile and geogrid are used to reinforce the sub-soil for road construction activities.
- Filtration: Filtration applications involve the movement of liquid through the geosynthetic, whilst retaining particles of the filtered soil.
- Drainage: Drainage is a critical application in almost all geotechnical structure, transmitting liquid within the plane and to reduce lateral pressure on a retaining wall.
- Barrier: Geosynthetics are used to prevent the contamination of liquid or vapor, generally used in the waste containment systems as a moisture barrier.
- North America
- Latin America
- Middle East & Africa
- North America: North America was the second-largest regional market for geosynthetics in 2018. The region is projected to witness significant growth during the forecast period driven by increasing investments in infrastructure development in the US and stringent building regulations.
- Europe: The expansion of public infrastructure and increasing construction activities owing to economic and demographic growth is expected to fuel the demand for geosynthetics in the region.
- Asia-Pacific: The region accounted for the largest market share of about 38%. It is expected to be the fastest-growing market led by increasing investments in infrastructure development in China, India, Indonesia, and Malaysia.
- Latin America: The Latin American construction industry is expected to witness moderate growth led by financial and political uncertainties in the region.
- Middle East & Africa: The growth of the regional market is attributed to increasing investments in infrastructure and construction projects, mostly in lieu of the mega-events such as the World Expo 2020 in Dubai and the FIFA World Cup 2022 in Qatar.
- 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)
Frequently Asked Questions (FAQ) :
The Geosynthetics market can expand at 6.5% CAGR by 2025.
By 2025, the Geosynthetics market value can exceed 27.5 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.