In a recent published report, Kenneth Research has updated the market report for Geosynthetics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Geosynthetics Market products.
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The Geosynthetics market was valued at USD 20.48 billion by 2017, growing with 5.6% CAGR during the forecast period, 2018-2025
Geosynthetics is a process wherein a certain terrain that may have instability or geological issues will be stabilized using this material. Geosynthetics are usually a type of polymer that will be used in order to create uniformity or stability in a certain terrain. Generally, the polymers used are high-density polyethylene (HDPE), polypropylene (PP), and polyester. Increased emphasis on the environmental problems and erosion control will lead to an increase in the need for Geosynthetics. It is here to provide solutions for such geology related problems. China for instance is expected to show 60% of the growth in the Geosynthetics market.
The urbanization of developing countries will result in improvement of infrastructure market that will as a consequence improve the Geosynthetics market. Growth in categories such as geotextiles market will boost the growth of this industry. In general, global growth in soil erosion prevention programmes will definitely boost the growth of this industry. Stricter environment laws further support the cause of using Geosynthetics materials.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
When this market is categorized product wise, the major categorization falls into Geotextiles, Geomembranes, Geonets, and Geogrids. Geotextiles dominates the market in terms of revenue generation. This is generally used in application like pavement building. It is known for its high tensile strength, permeability and abrasion resistance. This is followed by Geogrids. Geogrids act as reinforcement in low quality soil. They increase the shelf life of the roads that maybe usually damaged due to erosion and abrasion. Geomembranes is used widely in solid waste management, they are leak proof and designed to drain out properly. Geomembranes are the highest in terms of revenue earning.
The main application for this industry are Drainage systems, railroads, road & pavements, soil reinforcements & erosions, containment and waste water. Geosynthetics finds huge applications in construction segment. The broad areas of applications include road constructions, railways, tunnel building. Since there is a tremendous growth that is seen in construction such as office building, roads and street pavement the growth of this market is deemed to be significant.
There is a general increase in the demand for construction and overall improvement in infrastructure. Improvement in land tax initiatives such that in North America will drastically enhance the situation of Geosynthetics market globally. Since Geosynthetics are also widely used in the mining segment, an increase in the mining activities demand will definitely enhance the situation of Geosynthetics on a global platform. Due to its resilient material, drainage is another major application category owing to the inherent product categories.
It is observed that in general the Asia Pacific market is witnessing a significant growth in the construction category. In terms of the fastest growth, Asia pacific maybe the biggest market for Geosynthetics. In India for instance, initiatives such as ‘Housing for all by 2121’ will definitely promote the need of construction material. With respect to the existing size of the industry, the
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United States market is a huge one in terms of construction. It is estimated that over 30% of the Geosynthetics market share can be attributed to roads and pavements. Tie ups between industrial giants like PTC India Financial Services (PFS) and India Infrastructure Finance Company Limited (IIFCL) who have agreed to provide increased funding to various infrastructure and development projects in India will significantly increase the role of geosynthetics.
Key Vendor Takeaway
The major players with respect to Geosynthetics globally are GSE Environmental, NAUE Gmbh & Co Low & Bonar PLC, Officine Maccaferri and S.p TenCate Geosynthetics. These companies are investing in extensive R&D facilities owing to the new environmental concerns and shift to geo synthetic materials. This shift is going to support the growth of the Geosynthetics market globally. It will also result in stiff competition between these major players in the industry.
The market size and forecast for each segment and sub-segments has been considered as below:
Historical Year – 2014 & 2016
Base Year – 2017
Estimated Year – 2018
Projected Year – 2025
Traders, Distributors, and Suppliers
Government and Regional Agencies and Research Organizations
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
MARKET, BY PRODUCT
MARKET, BY APPLICATION
Road & Pavements
Containment and Waste Water
Soil Reinforcements & Erosions
MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of the World
Middle East and Africa
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