Geomembranes Market worth $3.4 billion by 2021 | Key Players include GSE Environmental, LLC, Agru America, Inc., Solmax International, Inc., Atarfil SL, NAUE GmbH & Co. KG, Officine Maccaferri S.p.A

According to recent market research Geomembranes Market is expected to grow from USD 2.2 billion in 2016 to USD 3.4 billion by 2021, at a compound annual growth rate (CAGR) of 9.2% during the forecast period. The increasing environmental awareness and demand for freshwater resources are triggering the use of geomembranes in the water management application, thereby driving the market.

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Geomembranes are impermeable membrane liners or barriers used to block the movement of water, fluids, or other materials of soluble nature in man-made structures. Geomembranes are being adopted across various applications such as waste management, mining, water management, tunnel lining, and others. The geomembranes market is projected to grow at a CAGR of 9.2% from 2016 to 2021, in terms of value. Increasing environmental awareness and environmental hazards, along with increasing population and pollution is the major driver in the geomembranes market. The growth of the geomembranes market is expected to be fueled by the rising demand from various applications and the development of new applications.

Regions such as the Asia-Pacific and North America, are relatively mature markets for geomembranes as compared to Europe, Middle East & Africa, and South America. The Asia-Pacific region is projected to be the fastest-growing market, whereas North America is projected to be the largest market from 2016 to 2021. The market in these regions is expected to witness an increase in the demand for geomembranes from the mining, waste management, and other applications. In North America, the market in the U.S. is projected to witness the highest growth during the forecast period, in terms of value as well as volume. The extensive use of geomembranes for waste and hazardous chemical containment and leachate collection along with their increased applicability in aquaculture and for floating covers in irrigation ditches, ponds, and lakes are the major factors driving the geomembranes market.

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Geomembranes are impermeable membrane liners or barriers used to block the movement of water, fluids, or other materials of soluble nature in man-made structures. The global geomembranes market is projected to reach USD 3.41 Billion by 2021 at a CAGR of 9.2% from 2016 to 2021. Globally, the demand for geomembranes is high, which is triggered by the growing level of environmental awareness around the world, as these are used for the safe disposal of hazardous waste and lowering water pollution levels. In addition to this, the increasing applicability of geomembranes in numerous applications including waste management, water management, mining, tunnel lining, aquaculture, coal ash ponds, and golf ponds, among others, is one of the key factors driving the geomembranes market.

Companies operational in the geomembranes market adopted strategies, such as new product launches, expansions, mergers & acquisitions, and agreements to achieve growth. New product launches is the key strategy adopted by the market players in the geomembranes market. This strategy accounted for a share of 41.7% of the total growth strategies adopted by market players between 2012 and 2017. Some of the key players, including GSE Environmental, LLC (U.S.), Solmax International, Inc. (Canada), Agru America, Inc. (U.S.), Atarfil SL (Spain), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A (Italy), Colorado Lining International, Inc. (U.S.), Plastika Kritis S.A. (Greece), Firestone Building Products Company, LLC (U.S.), and Carlisle SynTec Systems (U.S.) have adopted these strategies to develop their businesses, globally.

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GSE Environmental LLC (U.S.) is a leading player in the global geomembranes market. As a part of its growth strategy, the company developed a new product, the Photocurable geomembrane which has properties such as superior elasticity and curability, in November 2013. This product launch was expected to help the company to improve its product portfolio, especially coatings, molding materials, and adhesives. Also, in May 2014, GSE opened a new geosynthetics manufacturing plant in Suzhou, China to support the growing demand for geosynthetics in the country. The plant is built with the latest technology to manufacture all types of geomembranes developed by the company.

Solmax International, Inc. (Canada) is another major manufacturer of geomembranes and one of the largest producers across the globe. As a part of its business strategy, the company focuses on new product launches. In June 2015, the company launched the HLR Series geomembranes that possess special properties, such as durability and efficient performance at temperatures as high as 100°C.

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