Geosynthetics Market by Type (Geotextile, Geomembranes, Geogrids, Geofoams, Geonets), Application (Waste Management, Water Management, Transportation Infrastructure, Civil Construction), and Region - Global Forecast to 2026
The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026 during the forecast period. This growth is attributed to rise in demand in investments on infrastructural developments, and rising concerns over waste and water management globally. Geosynthetics have excellent properties such as high tensile strength, drapability, porosity, and flexibility which allows them to be used in a variety of applications ranging from infrastructure development to environmental protection.
Geotextile accounted for the largest share amongst other materials in the geosynthetics market
Geotextiles is the dominant type of geosynthetics globally in 2020. They are permeable, durable, and engineered fabrics made from synthetic fibers. Geotextiles are used in geotechnical engineering applications such as heavy construction, buildings, pavement construction, hydrogeology, and environmental engineering. Geotextiles have an increasing demand as they are replacing conventional materials and providing environment-friendly solutions. They are also used for drainage and erosion control, pavement and repairs, soil reinforcements & stabilization, embankments, asphalt overlays, and others.
Waste management accounted for the largest market share amongst other applications in the geosynthetics market
Waste management is one of the major applications of geosynthetics accounts for the largest share of the market in 2020. It includes the proper collection, transport, treatment, recycling, and disposal of residential, industrial, and commercial waste. Geosynthetics are essential for controlling the leakage of contaminated gas and liquid into groundwater, rivers, aquifers, and other. Some amount of wastes are recycled, but the majority are dumped in landfills. Geosynthetics are durable, chemical resistant, corrosion resistant, and are high strength. Due to an increase in population, urbanization, and industrialization, the need for waste management activities is expected to increase during the forecast period.
APAC is the largest and fastest-growing amongst other regions in the geosynthetics market
APAC dominates the geosynthetics market in 2020. The region is growing at a faster rate which accounts for the high growth of the geosynthetics market. The emerging market of India, China, and other countries of the APAC are growing and boosting the regional market growth. The market growth in the region is driven by rapidly increasing population, urbanization, and industrialization. Growing investment for the development of public infrastructure and demand for solid waste management system are the major factors driving the geosynthetics demand in the region.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the geosynthetics market gathered through secondary research.
The breakdown of primary interviews has been given below.
By Company Type: Tier 1 – 25%, Tier 2 – 50%, and Tier 3 – 25%
By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
By Region: North America – 20%, APAC – 25%, Europe – 30%, Middle East & Africa – 10%, South America-15%.
The key players in this market are SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A ( Italy), Berry Global, Inc ( US), and AGRU America, Inc ( US). The geosynthetics market report analyzes the key growth strategies, such as new product launches, expansions, joint ventures, agreements, partnerships, and mergers & acquisitions to strengthen their market positions.
This report covers the geosynthetics market and forecasts its market size until 2026. The market has been segmented based on type, application, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the geosynthetics market, along with opportunities and challenges across these industries. It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the geosynthetics market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as new product launch, acquisition, and expansion.
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