Global Geomembranes Market - - Segmented by Raw Material, Manufacturing Process, Application, and Region - Growth, Trends and Forecast (2018 - 2023)
The geomembrane market is expected to register a CAGR of approximately 7.8% during the forecast period, 2018-2023. The market is driven by many factors, such as demand from the construction industry, increased use of geomembrane in mining activities, and stringent regulatory framework for environmental protection.
Demand from Construction Industry Driving the Market
There has been a growing demand from construction sector for geomembranes because of its various mechanical properties such as tensile strength & elongation, tear resistivity, impact resistivity, and interface shear strength. In Europe, the European Commission has recently set up “New Roads Construction concept” project owing to the use of geomembranes in roads for containment of water seepage and hence, prevention of road damage. Such positive factors are expected to augment the consumption of geomembrane in the construction industry.
HDPE - the Fastest Growing Segment
Based on raw material, the HDPE geomembranes segment dominated the global market and is also expected to grow at a good rate in response to its increasing usage in road construction projects, owing to its low permeability. In India, the government is planning to construct over 83,000 km of roads, thereby providing opportunities for HDPE.
North America – the Largest Regional Market
North America accounted for the largest market for geomembranes because of extensive use in waste and hazardous chemical containment and leachate collection. The United Sates continues to be the largest market in North America. Growing water treatment facilities in response to increasing demand for aquaculture and for floating covers in irrigation pits, ponds, and lakes is expected to drive the market in North America during the forecasted period.
December 2017: Groupe Solmax acquired GSE Environmental based in Houston, Texas from Littlejohn & Co., LLC and certain funds and accounts which are managed by Strategic Value Partners, LLC.
August 2017: Raven Industries, Inc. signed an asset purchase agreement to acquire fabrication, installation, and design-build service provider Colorado Lining International, Inc.
Major Players: Solmax International Inc., Agru America Inc., Atarfil Sl, Naue GmbH & Co. KG, Officine Maccaferri SPA, and Colorado Lining International Inc., amongst others.
Reason to Purchase the Report
To understand the impact of end-user industries on the market
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating product type and application in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3 month analyst support, along with the Market Estimate sheet (in Excel)
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