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Geosynthetics industry analysis research and trends report for 2017- 2024

Press Release   •   Jan 16, 2018 03:13 EST

Geosynthetics Market size is set to surpass USD 12 billion by 2024; according to a new research report by Global Market Insights, Inc.

Rapid urbanization in China, India and Brazil along with favorable government initiatives to improve infrastructure will favor housing, transport, construction and energy industries, thereby driving geosynthetics market size. Increasing environmental concerns along with shift in consumer trends towards green buildings and material should positively influence industry growth.

Strict environment norms implemented by EPA and REACH for construction industries coupled with increase in infrastructure spending in residential sector owing to massive movement of migrants to western countries and rising living standards of consumers should propel industry growth. Growth in geotextile market size is expected in construction application due to superior characteristics such as tensile strength, porosity, flexibility, permeability and compatibility should boost geosynthetics demand.

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U.S. geosynthetics market size is poised to exceed USD 3 billion by 2024. American Association of State Highway and Transportation Officials (AASHTO) had designed standard specifications for geosynthetics including geotextiles and enrolled installation rules for application in drainage, separation, slit fencing, pavement and erosion control program. These products possess high mechanical strength and hydraulic property, which in turn prevent cracking, subgrade mixing and increases road life time.

Geotextile market size from pavement repair applications should exceed USD 480 million by 2024. It possesses high tensile strength, permeability, abrasion resistance and porosity, thus restricting water percolation and preventing crack formation in pavements and roads. Increasing demand for geotextiles as physical in barrier between the aggregate and weak part of subgrade soil and reduction of repair & construction cost and time should favor geosynthetics market growth.

Polyester, polypropylene, polyethylene, EPDM and PVC are the major raw materials used in the production process of geosynthetics. Fluctuating raw material costs owing to widespread usage in construction, and automotive industries may impact industry profitability & affect geosynthetics market supply demand gap.

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Uniaxial geogrids market size is likely to register significant gains at over 4.5% at the end of forecast timeframe. These products are mainly used as reinforcements on weak part of subgrade soils for erosion control and soil stabilization, resulting into longer lifespan of roads. Shifting consumer preference for modern construction along with increasing government spending on infrastructure development should positively influence geosynthetics market growth.

UK geosynthetics demand should expect consumption at over 385 million square meters by 2024. Strict regulation pertaining to solid waste management should enhance product demand. Regulatory bodies are promoting geomembrane application in municipal solid waste management systems. These products also prevent leakage and facilitate flow through designed drainage system. Proper drainage system will eliminate negative waste impact on surface & underground water bodies, thus propelling regional industry growth.

HDPE based geonets market size is likely to witness steady growth close to 5% over the forecast period. Increasing demand of geonets in soil reinforcement application owing to porosity, permeability and tensile strength should favor industry growth.

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Japan geocells market size is likely to exceed USD 30 million by the end of projected period. Increasing environmental concerns with rise in consumer awareness for consumption of biodegradable material should drive regional industry growth. Growth in soil erosion control program along with superior properties of the product to allow water passage and retain soil granules should enhance product demand, thereby driving regional geosynthetics market growth.

TENAX, Royal TenCate, Tensar International, Fibertex, TYPAR and Huesker are the prominent industry participants in geosynethtics market. Strong R&D spending by manufacturers in order to comply with various environmental regulations may improve and expand product portfolio thereby stimulating industry growth.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.