geotextile tubes market
The Geosynthetics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Geosynthetics Global Market Report 2024, The geosynthetics market size has grown strongly in recent years. It will grow from $12.65 billion in 2023 to $13.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to infrastructure development, environmental regulations, urbanization, landfill construction, mining and oil & gas.
The geosynthetics market size is expected to see strong growth in the next few years. It will grow to $19.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to climate change resilience, waste management and recycling, infrastructure resilience, water and wastewater treatment, coastal protection. Major trends in the forecast period include geosynthetic reinforcement for roadways, geosynthetic liners in landfills, geotextiles in agriculture, advanced geocomposite technologies, sustainable material innovations.
The growth of the construction industry is contributing to the growth of the geosynthetics market. The construction industry mainly involves building and repairing structures. Geosynthetics are considered to improve the quality of factory-manufactured construction products as they provide an economical solution for various functions such as separation, filtration, reinforcement, drainage, waterproofing, erosion control, containment, and protection. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, the growth of the construction industry is expected to drive the growth of the geosynthetics market going forward.
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The geosynthetics market covered in this report is segmented –
1) By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Other Types
2) By Material: Polyethylene, Polypropylene, Polyester, PVC, Other Materials
3) By Function: Separation, Filtration, Drainage, Reinforcement, Protection (Cushion), Barrier Or Containment, Erosion Control
4) By Application: Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Other Applications
Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the geosynthetics market. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in April 2022, Commercial Metals Co, a US-based steel and metal manufacturer acquired Tensar International Corp for an undisclosed amount. This acquisition advances CMC’s strategy to expand leadership in construction reinforcement with value-added products that complement the existing offerings. Tensar Corporation is a US-based manufacturer of proven geosynthetic products.
The geosynthetics market report table of contents includes:
1. Executive Summary
2. Geosynthetics Market Characteristics
3. Geosynthetics Market Trends And Strategies
4. Geosynthetics Market – Macro Economic Scenario
5. Global Geosynthetics Market Size and Growth
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31. Global Geosynthetics Market Competitive Benchmarking
32. Global Geosynthetics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Geosynthetics Market
34. Geosynthetics Market Future Outlook and Potential Analysis
35. Appendix
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