Press release
Geosynthetics Market Revenue By Top Key Players Huifeng Geosynthetics, Tenax Corporation, Polymer Group, NAUE GmbH & Co. KG, Agru America Inc., Asahi Kasei Corporation, Leggett & Platt, GEO Synthetics LLC, Officine Maccaferri GSE Environmental, Propex Glo
Geosynthetics
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Market Dynamics:-
Geosynthetics find application in the transportation industry. Increasing expansion of roads and railway networks is expected to boost the market growth. In rail industries, geosynthetics are used to improve track stability and to reduce maintenance cost. According to U.K.’s Office of Rail and Road (ORR), the total funding offered by the U.K. government towards maintaining, operating, renewing, and enhancing railways was US$ 8.6 billion in 2017, which increased from US$ 7.4 billion in 2013. Therefore, significant growth in the transportation industry is expected to boost the geosynthetics market growth during the forecast period.
Market Outlook:-
Geosynthetics are highly adopted in civil construction and environmental activities such as filtration and landfill. Increasing need of water and waste treatment projects and enhancing civic amenities such as, sanitation, roads and drains, collection and disposal of solid waste, burial grounds and others are major driving factors for growth of the global geosynthetics market. Among product type, geotextile filters are used in wastewater treatment as biofilm attachment media, which helps microorganisms to decompose carbonaceous and nitrogenous compounds. Geotextile filters also filter the suspended solids.
Asia Pacific holds dominant position in the market for geosynthetics and also is the fastest growing market. This is owing to increasing demand from various applications such as road and pavements, drainage systems, and others in the construction industry. Growing real estate sector in Asia Pacific is also expected to boost the market growth. In 2018, the government of India launched ‘Housing for all by 2022’ program. According to India Brand Equity Foundation, the Indian real estate sector is expected to reach market size of US$ 1 trillion by 2030 from US$ 120 billion in 2017. Therefore, significant growth in the construction industry is expected to boost growth of the geosynthetics market in the region during the forecast period.
Key Players:-
Major players operating in the global geosynthetics market include, Huifeng Geosynthetics, Tenax Corporation, Polymer Group, NAUE GmbH & Co. KG, Agru America Inc., Asahi Kasei Corporation, Leggett & Platt, GEO Synthetics LLC, Officine Maccaferri GSE Environmental, Propex Global, Fiber Web PLC, Low & Bonar PLC, Ten Cate Geosynthetics, and others.
Market Taxonomy:-
On the basis of material type, the global geosynthetics market is segmented into:
High Density Polyethylene (HDPE)
Polyester
Polypropylene
Natural Fiber
Other Polymeric Alloys
On the basis of product type, the global geosynthetics market is segmented into:
Geotextiles
Geogrids
Geomembranes
Geosynthetic Clay Liners
Geofoams
Geocomposites
Geonets
Geocells
Others
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