by Geosynthetics are polymeric products used with soil, rock, earth or other geotechnical engineering related material as an integral part of a human-made project, structure or system. Geosynthetics include geotextiles, geogrids, geonets, geocomposite and geo-membranes. They improve the performance and quality of roads and embankments. Geosynthetics enable cost savings by reducing thickness of roads and other infrastructure projects. They are used in construction projects like roads, highways, railways, airports, dams and reservoirs. The increasing spending on infrastructure coupled with geosynthetics benefits like drainage, separation, reinforcement and containment is propelling the demand for geosynthetics.
The Global Geosynthetics Market is estimated to be valued at US$ 16.86 Mn in 2024 and is expected to exhibit a CAGR of 4.5% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Geosynthetics market are Nippon Paper Industries Co., Ltd., Mondi Plc, Metsa Board Oyj, WestRock, and Oji Holdings Corporation.
Key opportunities in the Geosynthetics Market Size include rising government investments in infrastructure development projects especially in developing countries. The growing construction and mining industries will further augment the geosynthetics consumption.
North America and Europe currently dominate the geosynthetics market. However, Asia Pacific is expected to witness highest growth owing to rapid industrialization and urbanization in China and India. Key players are expanding their production facilities in Asia to tap the market potential.
Market drivers
Rising infrastructure projects across the globe is a major market driver. There is increasing government focus on development of roads, highways, railways, ports, airports and bridges. Geosynthetics find extensive applications in construction of embankments, retaining walls, landfill liners due to their advantages. This will propel the demand over the forecast period.
PEST Analysis
Political: Geosynthetics market is susceptible to political issues related to environmental laws and regulations. Changes in regulations related to soil erosion control and civil engineering works can impact market demands.
Economic: Economic growth drives construction and infrastructure development activities which subsequently increases demand for geosynthetics used in various applications. Market demand is directly influenced by GDP growth trends.
Social: Growing focus on environmental protection, soil conservation and sustainable construction methods are driving social demand for geosynthetics across regions. Their usage helps prevent soil erosion and damage to natural habitats.
Technological: Advancements in material science and geosynthetics production technologies help offer improved properties and functionalities. New production techniques aid development of geosynthetics with higher tensile strength and durability suitable for varied applications.
Americas hold the largest share of the global geosynthetics market in terms of value, led by growth in the United States and Canada. In the region, geosynthetics find widespread applications in construction activities such as drainage systems, retaining walls, roadways and erosion control works. The Asia Pacific region is projected to be the fastest growing regional market during the forecast period. Rapid infrastructural development and economic growth in China and India is supporting geosynthetics demand growth. Rising environmental protection consciousness is also driving the regional market.
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
