Geosynthetics Market Current And Projected Market Size In Terms Of Volume And Value | Forecast, 2031

The rise in demand for geosynthetics in transportation and energy sectors, coupled with their cost-effectiveness, is fueling market growth.

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- The global geosynthetics market is witnessing significant growth, driven by increasing demand in key sectors such as transportation, energy, and civil construction. Geosynthetics offer cost-effective solutions and contribute to sustainable development, particularly in emerging economies.

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Market Overview:

- Market Size: The global geosynthetics market was valued at $13.2 billion in 2020 and is projected to reach $37.9 billion by 2030, with a compound annual growth rate (CAGR) of 11.2% during 2021-2030.
- Drivers: The rise in demand for geosynthetics in transportation and energy sectors, coupled with their cost-effectiveness, is fueling market growth.
- Restraints: Volatility in petrochemical prices poses a challenge to market growth.
- Opportunities: Growing demand for sustainable products in developing economies presents lucrative opportunities for market expansion.

COVID-19 Impact:

- The COVID-19 pandemic initially led to a decline in global construction and infrastructural activities, impacting the demand for geosynthetics.
As the global situation improves, the market is expected to recover steadily.

Segment Analysis:

- Geomembranes: Accounted for the largest market share in 2020 and is expected to maintain dominance through 2030 due to its widespread applications.
- Geogrids: Projected to witness the fastest CAGR of 12.1% from 2021 to 2030.
- Water/Wastewater Management: Contributed the highest revenue share in 2020 and is anticipated to dominate the market by 2030, driven by increasing demand for wastewater management solutions.
- Energy: Expected to grow at the fastest CAGR of 13.0% during 2021-2030, fueled by expanding renewable energy sites globally.

Regional Analysis:

- Asia-Pacific: Led the market in 2020 and is expected to maintain its dominance, with China and India driving growth through rising construction and infrastructural developments.
- North America: Garnered a significant share in 2020 and is anticipated to witness steady growth during the forecast period.

Key Players:

- Freudenberg Group
- HUESKER Group
- Maccaferri S.p.A.
- NAUE GmbH & Co. KG
- PRS Geo-Technologies
- Tensar International Corporation
- Schouw & Co.
- AGRU
- Solmax
- TENAX Group

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