What are the factors driving the Geosynthetics Market trends by 2024? ACE Geosynthetics, Tenax Corporation, HUESKER Group, Tensar International Corporation, Strata Systems, Agru America,Inc, GSE

As per Global Market Insights, Inc., in terms of commercialization, global geosynthetics market size is slated to exceed a valuation of USD 12 billion by 2024. Rapid urbanization in China, India and Brazil along with favorable government initiatives to improve infrastructure will favor housing, transport, construction and energy industries, thereby driving geosynthetics market size.

Increasing environmental concerns along with shift in consumer trends towards green buildings and material should positively influence industry growth. TENAX, Royal TenCate, Tensar International, Fibertex, TYPAR and Huesker are the prominent industry participants in geosynethtics market. Strong R&D spending by manufacturers in order to comply with various environmental regulations may improve and expand product portfolio thereby stimulating industry growth.

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Geosynthetics market growth potential from geotextiles

Geotextile market size from pavement repair applications should exceed USD 480 million by 2024. Geotextiles, an integral product vertical of geosynthetics market, have been experiencing a preferential position in today’s construction projects such as upkeep of roads, dams, harbors, airfields, and canals.

This is due to the fact that non-woven geotextiles provide viable solutions to projects where conventional granular construction materials are not readily available. While civil workers were initially reluctant of deploying these new filter materials, the notable difference it has brought in designing the base and stabilizing the terrain, has led to an increased geotextile consumption in repair activities.

• Geosynthetics Market By Product

- Geotextile
- Geogrids
- Geomembranes
- Geonets
- Geocells

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A precise archive of the application diversification of geotextiles in massive constructional projects:

• A recent precedent aptly depicting penetration of geotextiles in critical construction projects is Canada’s permanent road to Arctic coast. Reportedly, the 120km highly construction involved integrating of geotextile fabric between the road and the ground by employing a fill technique that ensures projection of the permafrost. Experts claim this to be one of the flagship projects that the regional geosynthetics marketplace has lately witnessed, given the fact it is Canada’s first ever road linking the country’s Artic coast with the towns of Inuvik, which until now were only accessible by airplane.

• Citing another noteworthy instance in geosynthetics industry- recently the national airport in Minsk has made to the headlines with the announcement of its plan of renovating the primary runway. Amidst the various initiatives implemented by the regional government under this runway reinforcement project, it is reported that the new runway would comprise of a base layer that is reinforced with Multitex PET from Machina. Allegedly, these geotextile-geogrid materials manufactured by Machina not only deliver excellent runway reinforcement but also ensure proper drainage support and soil separation.

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A glimpse into the competitive landscape of geosynthetics market

The commercial production of geosynthetics involves raw materials like PVC, polyethylene, polypropylene, EPDM, and Polyester. Thus, it is quite conspicuous that any fluctuations in the price trend of these intermediates would have a direct impact on the revenue graph of geosynthetics industry, on account of their extensive demand from other burgeoning domains.

Companies partaking in geosynthetics market, in a bid to respond to this challenge, are increasingly focusing on production capacity enhancement and strategic collaborations to expand their business beyond regions. For instance, toward the end of last year, Groupe Solmax, the Canadian based geosynthetics market giant, acquired Quebec headquartered GSE Environmental from a private equity firm named Littlejohn & Co. and funds owned by investment manager, Strategic Value Partners.

Amidst such a backdrop where smart construction, a blend of operational efficiency and environmental viability, has become the prime focus of civil engineering sector, it is undeniable that geosynthetics industry is yet to unfold a slew of opportunities.

Add to it, the stringent environmental norms enforced by international regulatory bodies like EPA and REACH on constructional projects will further play their cards in complementing the overall business growth in the coming years.

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About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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