Global geosynthetics market is expected to
reach USD 27.08 billion by 2022, according to a new study by Grand View
Research, Inc. Construction industry growth in India, China and Middle East, on
account of rising expenditure on infrastructure development is expected to be a
crucial driving factor for geosynthetics market growth.
Increasing
application of geotechnical products for controlling seepage problems in
building and irrigation projects is expected to have a favourable impact.
Growing shale gas production in U.S. and Canada on account of increasing
expenditure on hydraulic fracturing at domestic level may drive industry growth
in the near future.
Geotextiles
market were the largest product segment with demand estimated over 4,300.0
million square meters in 2014. They find application in erosion control and soil
reinforcement on account of properties such as flexibility, permeability and
enhanced thickness.
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http://www.grandviewresearch.com/industry-analysis/geosynthetics-market
Further key findings from the study suggest:
· Global geosynthetic market size was 6,124.0
million square meters in 2014 and is expected to reach above 9,000.0 million
square meters by 2022, growing at a CAGR of 5.1% from 2015 to 2022.
· Roads & pavements accounted for over
30% of global volume in 2014. Geogrids and geotextiles are incorporated for
soil reinforcement and facilitating filtration during road construction.
· Containment & waste water application
is expected to witness the fastest growth in terms of volume, at a CAGR of 5.7%
from 2015 to 2022. Rising importance of waste water treatment in mining and
upstream oil & gas sectors is expected to increase geotechnical product use
in the near future.
· Asia Pacific geosynthetic market was valued
over USD 6,100 million in 2014. The Government of India announced Make in India
Campaign in September 2014 which is aimed at increasing manufacturing output
through foreign direct investment at domestic level. This supportive plan is
expected to increase expenditure in construction industry and thus likely to
have a positive impact on the market.
· Key geosynthetic manufacturers include Agru
America Inc, TenCate, NAUE, Low & Bonar PLC, GSE, Asahi-Kasei and Officine
Maccaferri. In February 2015, Propex launched erosion control solution under
the brand name, Propex TeetoGreen technology, intended for the golf course
industry. This technology is designed for providing solution to challenges
pertaining to soil erosion faced by club managers, golf course owners, builders
and superintendents.
Grand View
Research has segmented the global geosynthetics market on the basis of product,
application and region:
Global
Geosynthetics Product Outlook (Volume, Million square meters; Revenue, USD
Million, 2012 - 2022)
·
Geotextiles
·
Geomembranes
·
Geogrids
·
Geonets
·
Others
Global
Geosynthetics Application Outlook (Volume, Million square meters; Revenue, USD
Million, 2012 - 2022)
·
Road & Pavements
·
Railroads
·
Drainage Systems
·
Soil Reinforcement & Erosion
·
Containment & Waste Water
·
Others
Global
Geosynthetics Regional Outlook (Volume, Million square meters; Revenue, USD
Million, 2012 - 2022)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
