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Global Geocells Market To Grow At A CAGR Of 8.8% Between 2016-2025
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The report analyses the global geocells market in terms of market value (US$ Mn) and volume (Million Square Meter) by applications, region, and material type and provides information regarding market dynamics, value chain, competitive landscape, current trends, market estimations and forecast.
Drivers and trends impacting the market
Infrastructure development activities, construction sector output and a growing urbanisation trend are some of the macro-economic drivers of the market. Developed economies have formulated regulations concerning erosion control and sustainable infrastructure development. Such regulations and initiatives are identified as underlying driving factors of the market. On the flipside, low awareness of geocells amongst infrastructure developers in emerging economies and competition from substitute products, such as geogrids and geomembranes are identified as minor restraints in the global geocells market.
Market forecast
From materials perspective, high density polyethylene (HDPE) is extensively used across the globe for geocells manufacturing followed by polypropylene, polyester and other polymeric alloys. HDPE commanded around 68.6% share by value in 2014 and is projected to remain the largest market segment by 2025 with a share of around 64%. Prices for these materials are anticipated to increase over the forecast period owing to increasing energy costs, crude oil prices and complex manufacturing processes.
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From application perspective, earth reinforcement, channel protection and slope protection are the prominent applications of geocells which constituted around 86% of market value in 2014 and are collectively projected to exhibit value CAGR of 8.8% over the forecast period. Other applications including load support and tree root protection are collectively projected to exhibit a value CAGR of 8.4% during the forecast period.
From regional perspective, North America and Asia Pacific represented prominent markets for geocells globally in 2014. In terms of market value, geocells market in developing countries is collectively projected to grow at CAGR of 10.2% while geocells market in developed countries is collectively projected to grow at CAGR of 7.4% during the forecast period. Asia Pacific region is expected to be the largest geocells market in terms of value by 2025, followed by North America, Western Europe, and other regions.
Competitive landscape
Key market participants covered in the report, include Presto Geosystems, Polymer Group Inc., TMP Geosynthetics, Armtec Infrastructure Inc., Strata Systems Inc., PRS Mediterranean Ltd., Maccaferri S.p.A, ACE Geosynthetics, MiakomGroup of Companies, Wall Tag Pte Ltd., Tensar International Ltd., Tencate Geosynthetics, Admir Technologies, Polyfabrics Australia Pty Ltd., Bonar, ABG Geosynthetics, Huifeng Geosynthetics, SABK International, Wrekin Products, Ltd., CeTeau Group.
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