Feb 23, 2021: The global Geomembrane Market size is expected to value at USD 2.43 billion by 2025. The geomembrane industry is subject to witness a substantial growth due to the rising expenditure towards waste and water management programs in both developed as well as developing economies across the globe. Increasing demand for shale gas from countries such as Germany, Russia, China, and India is expected to stimulate market growth over the forecast period. Robust growth of the mining sector in the Asia Pacific economies such as China, Australia, and Japan is propelling the market demand for geo-membrane, in the recent years.
Favorable government laws & regulations along with rising metal demand at the domestic level is predicted to boost market demand for geo-membrane in the various applications. Some of the typical applications of the geo-membrane include landfill covering and containment control. Globally, the geomembrane market is predicted to grow at higher CAGR in the forecast period providing numerous opportunities for market players to invest for research and development in the geomembrane industry.
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Furthermore, introduction of favorable regulatory standards by both local and international authorities such as the European Commission and EPA associated with the implementation of waste management practices in various sectors such as manufacturing industry, mining and oil & gas sector. Large number of geo-synthetic materials are finding applications in mining and oil & gas sector as shielding medium due to their corrosion resistance properties and resistance to adverse atmospheric conditions. The recent technological advancements such as development of new arc equipment that are typically used for production of geo-membrane to identify leaks are anticipated to foster market growth over the forecast period.
Increasing research & development activities in the North America region is expected to drive market growth as well. Moreover, increasing requirement for the bituminous membrane in waterproofing and landfill application is gaining traction among manufactures in the upcoming years. Increasing demand for polymers resins such as polypropylene, polyethylene high-density (PEHD), polyethylene low-density (PELD) and polyvinyl chloride in automobile, electrical and packaging sector is predicted to limit the raw material supply over the forecast period. Thus, limiting market growth to a certain extent. Yet, rising adoption of organic polymers based on growing concerns over greenhouse emissions and stringent laws & regulation by local governments are anticipated to fuel the development of innovative products in the near future.
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LDPE or polyethylene low-density (PELD) is considered as one of the fastest growing segment in the geomembrane market with substantial revenue generation in the last couple of years. Growing popularity of the polyethylene low-density (PELD) is attributed to lowered prices of the polymer in comparison with the polyethylene high-density (PEHD) and other polymers. Water management is one of the common application of the geo-membrane owing to the unique properties of geo-synthetic products such as shielding agent and resistance to the migration of water.
The geomembrane industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in the manufacturing sector, massive demand of shale gas in the U.S. and Canada, increase in the availability of raw materials to geo-membrane manufacturers, and existence of well-established infrastructure in the region. Asia-Pacific region is predicted to hold major market share in the geomembrane market with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with the easy availability of raw materials to geo-membrane manufacturers, strong economic growth, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the geomembrane industry are CETCO Energy Services Company LLC, GSE Holdings, Inc., Agru America, Inc., Solmax International, Inc., Officine Maccaferri SpA, NAUE GmbH & Co. KG, Mineral Technologies, Inc., and Juta & Company Ltd.
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7th January 2020 – The global Geomembrane Market size is expected to value at USD 2.43 billion by 2025.
The geomembrane industry is subject to witness a substantial growth due to the rising expenditure towards waste and water management programs in both developed as well as developing economies across the globe.
Robust growth of the mining sector in the Asia Pacific economies such as China, Australia, and Japan is propelling the market demand for geo-membrane, in the recent years.
Favorable government laws & regulations along with rising metal demand at the domestic level is predicted to boost market demand for geo-membrane in the various applications.
Moreover, increasing requirement for the bituminous membrane in waterproofing and landfill application is gaining traction among manufactures in the upcoming years.
Increasing demand for polymers resins such as polypropylene, polyethylene high-density (PEHD), polyethylene low-density (PELD) and polyvinyl chloride in automobile, electrical and packaging sector is predicted to limit the raw material supply over the forecast period.
Global Geomembrane Market size is expected to value at USD 2.43 billion by 2025.
The geomembrane industry is subject to witness a substantial growth due to the rising expenditure towards waste and water management programs in both developed as well as developing economies across the globe.
Robust growth of the mining sector in the Asia Pacific economies such as China, Australia, and Japan is propelling the market demand for geo-membrane, in the recent years.
Get a Free Sample Copy of Report @ https://www.millioninsights.com/industry-reports/geomembrane-market/request-sample Favorable government laws & regulations along with rising metal demand at the domestic level is predicted to boost market demand for geo-membrane in the various applications.
Large number of geo-synthetic materials are finding applications in mining and oil & gas sector as shielding medium due to their corrosion resistance properties and resistance to adverse atmospheric conditions.
The recent technological advancements such as development of new arc equipment that are typically used for production of geo-membrane to identify leaks are anticipated to foster market growth over the forecast period.
Owing to its low price compared to other fossil fuels, the market is anticipated to replace conventional sources such as coal, nuclear and hydro especially in chemical, fertilizer and hydrogel production industries.Global conventional energy reserves are not able to fulfill the demand owing to developing per capita consumption of energy in developing countries majorly in Asia-Pacific.
Till now, shale gas production is limited to North America such as Canada and U.S.
Foreign investors also have recently ventured the market along with entering into various mergers and acquisitions with companies to utilize the potential in this region.The key factors driving the market are anticipated to be the abundance of shale gas globally however yet not matured reserves in several locations such as India and Indonesia, improved supply and distribution network, enhanced drilling technology and decline in prices of conventional energy sources.However, the involvement of higher capital investment for shale gas exploration and production, and other issues such as water contamination on hydraulic fracturing are expected to restrain the industry growth over the forecast period.
Also, other environmental issues such as methane release owing to hydraulic drilling and public opposition have hindered the market mostly in the European countries such as Poland and France.Also, various energy and government agencies globally have initiated many programs for developing and producing shale gas.
Industries in Canada and U.S. are slowly shifting their focus towards the utilization of shale gas replacing the conventional gases.
This will develop transportation to be the fastest growing application with a projected at a CAGR of 10.8% from 2014 to 2020.The commercial application of the market is also expected to grow at CAGR of around 5.3% from 2014 to 2020 to reach approximately USD 10 billion by 2020.Regional Insights:In the present industry scenario, Canada and U.S. are the major producers of shale gas.
