The global Geosynthetics Market is estimated to be valued at US$ 14.63 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global Geosynthetics Market is witnessing significant growth owing to increasing applications of geosynthetics in construction activities such as shoreline protection, drainage systems, infrastructure development etc. Geosynthetics are polymeric products used along with soil, rock, earth or other geotechnical engineering related material as an integral part of a man-made project, structure or system. They are known for their cost-effectiveness and enhancing performance, endurance and safety of various civil construction and environmental containment activities.
Market Overview:
Geosynthetics are widely used in various construction applications such as liners, separation fabrics, barriers, drainage systems, geo tubes etc. They provide anti-erosion protection, leak control in landfills and enhance load bearing capacity of soils. Increase in infrastructure development activities such as dams, roads, buildings, ports etc. has augmented the demand for geosynthetics globally.
Market key trends:
One of the key trends in the geosynthetics market is the growing adoption of geosynthetics for erosion control applications. Erosion is a major issue faced in infrastructure development activities involving earthworks. Geosynthetics such as geotextiles and geo grids help maintain the structural integrity of soil by protecting it from erosion. They facilitate vegetation growth, filter out sediment from run-off and increase soil tensile strength. This has propelled the demand for geosynthetics in infrastructure projects for shoreline protection, riverbank stabilization, slope reinforcement etc. Their effectiveness and longevity in preventing erosion is fueling their increased application in construction sector.
Segment Analysis
The global Geosynthetic market is segmented into geotextiles, geogrids, geomembranes, geosynthetic clay liners (GCLs), geocells, and geopipes. Geotextiles dominate the market and account for over 30% of the total market share. Geotextiles are extensively used for various applications such as filtration, separation, reinforcement, and drainage in transportation, erosion control, and containment & waste management. This can be attributed to its ability to separate, filter, reinforce, protect, and drain surface material.
Key Takeaways
The Global Geosynthetics Market Demand is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing infrastructure development worldwide.
Regional analysis
Asia Pacific dominates the global Geosynthetics market and is expected to grow at the highest CAGR during the forecast period. This can be attributed to rapid industrialization and infrastructure development in emerging economies such as China and India.
Key players
Key players operating in the Geosynthetics market are AGRU, Freudenberg Group, HUESKER Group, Maccaferri S.p.A., NAUE GmbH & Co. KG, PRS Geo-Technologies, Schouw & Co., Solmax, TENAX Group, and Tensar International Corporation. The global Geosynthetics market is fragmented in nature with the presence of several international and domestic players. These players focus on innovations and new product launches to attain growth and gain competitive advantage in the market. For instance, in 2021, Tensar International Corporation launched the Duratray Stormdrain System.
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