The global Geosynthetics market size is set to gain traction from the increasing usage of sustainable building materials. Geosystems reduce the usage of natural materials, such as aggregates and sand, thereby simplifying construction activities. In a typical cross-section, for instance, the depth of the aggregate layer can be cut off so that less mining is needed for the construction of roads.
The above information is published by Fortune Business Insights™ in a recent report, titled, “Geosynthetics Market Size, Share and Industry Analysis, By Product (Geotextile Geogrid, Geonets, Geocells, Geofoam, Geosynthetic Clay Liner, Geocomposites), By Application and Regional Forecast 2019-2026.” As per the report, the geosynthetics market size stood at USD 27.16 billion in 2018. It is set to reach USD 45.25 billion by 2026, exhibiting a CAGR of 6.6% during the forecast period.
This Report Answers the Following Questions:
- How big is the market?
- What are the geosynthetics market trends and growth drivers?
- Which region would remain at the forefront in the near future?
- Which are the top companies present in the market?
- What are the challenges that the market may face in the coming years
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are making continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Fortune Business Insights™ presents a list of companies operating in the geosynthetics market. They are as follows:
- TENAX SPA
- Tensar International Corporation
- GSE Environmental
- Terram Geosynthetics Pvt. Ltd. (TGPL)
- Koninklijke Ten Cate bv
- Garware Technical Fibres Ltd.
- Fibertex Nonwovens A/S
- Techno Fabrics Geosynthetics Pvt. Ltd.
- Fibromat (M) Sdn Bhd.
- AGRU AMERICA, INC.
- Global Synthetics
- Strata Systems, Inc.
- Pietrucha Group
- Tuflex India
- SKAPS Industries
- CTM Geosynthetics
- Maharshee Geomembrane (India) Pvt. Ltd.
- Other key market players
Get Detailed Insights of this Research Report with TOC, the short-term and long-term impact of COVID-19 on this Market: https://www.fortunebusinessinsights.com/geosynthetics-market-102545
Drivers & Restraints:
Rising Demand from Mining Sector to Propel Growth
Nowadays, geosynthetic materials are utilized for making waste barriers for mining by-products. Mining activities give out plenty of solid wastes, namely, waste rocks and tailings throughout the entire process that consists of waste disposal and containment. In this sector, geomembrane liners are extensively used for lining solutions, such as tailings impoundments, heap leaching, and evaporation ponds. Numerous organizations are also providing several geomembrane solutions to the mining sector. This sector uses around 40% of the geomembrane production worldwide. These factors are set to boost the geosynthetics market growth during the forthcoming years. However, geogrids are often damaged when they are exposed to UV light and low temperatures. It may hinder the market growth.
Geotextile Segment to Lead Backed by Their Possession of Various Advantages
In terms of product, the market is grouped into geocomposites, geotextile, geosynthetic clay liners (GCLs), geonets, geogrids, geofoams, geomembranes, and geocells. Out of these, the geotextile segment held 30.47% geosynthetics market share in 2018. This growth is attributable to the rising usage of geotextiles in construction applications, namely, drainage structure, landfills, harbors, roads, and railroads to improve soil stabilization. Apart from that, the governments of various countries are investing huge sums, which, in turn, would boost the growth of this segment.
Moreover, they are conducting awareness programs regarding the functional advantages of these products unlike the conventional materials. A few of the benefits consist of superior load bearing capacity, high tensile strength permeability, and flexibility. Hence, it is upsurging the penetration of such products in agriculture, pavement repair, drainage, road construction, and soil erosion. They are mainly made up of polypropylene, polyethylene, or polyvinyl chloride (PVC). These further aid in preventing erosion by stabilizing soil.