Geosynthetics Global Market Report 2024: Comprehensive Analysis and Future Outlook

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The geosynthetics market has experienced dynamic growth in the past years. It is predicted to rise from $12.65 billion in 2023 to $13.79 billion in 2024, reflecting a persistent compound annual growth rate CAGR of 9.0%. This growth during the historic period can be attributed to several factors, notably infrastructure development, stringent environmental regulations, rapid urbanization, landfill construction, along with the mining and oil & gas sectors.

How Will The Geosynthetics Market Fare In The Coming Years?

Indeed, the future prospects remain bright for the geosynthetics market. The market size is expected to witness continued robust growth, reaching a notable $19.45 billion by 2028, with a CAGR of 9.0%. This growth in the forecast period is predicted due to climate change resilience, waste management and recycling, resilient infrastructure building, water and wastewater treatment, and coastal protection.

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What Are The Main Factors Driving The Growth Of The Geosynthetics Market?

A significant factor driving geosynthetics market growth is the surge in the construction industry. The industry primarily revolves around constructing and repairing structures. Geosynthetics are crucial in enhancing the quality of factory-produced construction products, providing an economical solution for various applications such as separation, filtration, reinforcement, drainage, waterproofing, erosion control, containment, and protection. For example, according to the Indian Ministry of Statistics and Programme Implementation, the construction sector is projected to grow in double digits, at 10.7%, in 2022. Thus, the growth of the construction industry is set to drive the geosynthetics market forward.

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Who Are The Prime players In The Geosynthetics Market?

Major players operating in the geosynthetics market include Koninklijke Ten Cate BV, GSE Holdings Inc., NAUE GmbH & Co. KG, Fibertex Nonwovens A/S, HUESKER Synthetic GmbH, Tensar International Corporation, AGRU America Inc., Low & Bonar PLC, Groupe Solmax Inc., Officine Maccaferri SpA, Asahi Kasei Advance Corporation, Belton Industries Inc., Propex Operating Company LLC, Global Synthetics Pty Ltd., TYPAR, Tenax Pidilite India Private Limited, Solmax International Inc., CETCO Minerals Technologies Inc., Carthage Mills, Geofabrics Australasia, Geosynthetics Limited, Hanes Geo Components, Kaytech Engineered Fabrics, Maccaferri Canada Ltd., Mattex Geosynthetics, Nilex Inc., Owens-Corning Fiberglass Company, Polymer Group Inc., Presto Geosystems, Raven Industries, Strata Systems, TenCate Geosynthetics Americas, Thrace Group, Titan Environmental Containment, Tuflex India Pvt. Ltd., Wrekin Products Ltd.

Are There Any Important Emerging Trends?

Strategic partnerships and collaborations are gaining traction in the geosynthetics market. Major market players are focusing on partnerships and collaborations to lead the market. One recent example is the acquisition of Tensar International Corp by Commercial Metals Co, a US-based steel and metal manufacturer, in April 2022. The acquisition aimed to extend CMC’s construction reinforcement leadership by introducing value-added products that align with existing offerings.

How Is The Geosynthetics Market Categorized?

The geosynthetics market is segmented across various dimensions –

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

Which Regional Markets Held The Largest Share?

Asia-pacific was the dominant region in the geosynthetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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