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Geosynthetics Market 2023 - Growth By Regional Segments, Upcoming Business Strategies And Industry Revenue Forecast By 2032
Geosynthetics Market
The Business Research Company's Geosynthetics Global Market Report 2023 identifies growth of the construction industry as the major driver for the Geosynthetics market's growth in the forecast period. The construction industry mainly involves building and repairing structures. Geosynthetics are considered to improve the quality of factory-manufactured construction products as they provide an economical solution for various functions such as separation, filtration, reinforcement, drainage, waterproofing, erosion control, containment, and protection.
The global geosynthetics market size grew from $11.64 billion in 2022 to $12.65 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The geosynthetics market size is expected to grow to $16.98 billion in 2027 at a CAGR of 7.6%.
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Major competitors in the Geosynthetics market are Koninklijke Ten Cate B.V, GSE Holdings Inc., NAUE GmbH & Co. KG, Texas Spa, Fibertex Nonwovens A/S, HUESKER Synthetic GmbH.
A key trend in the Geosynthetics market includes strategic partnerships and collaborations. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in April 2022, Commercial Metals Co, a US-based steel and metal manufacturer acquired Tensar International Corp for an undisclosed amount. This acquisition advances CMC's strategy to expand leadership in construction reinforcement with value-added products that complement the existing offerings. Tensar Corporation is a US-based manufacturer of proven geosynthetic products.
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The Geosynthetics market is segmented -
• By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Other Types
• By Material: Polyethylene, Polypropylene, Polyester, PVC, Other Materials
• By Function: Separation, Filtration, Drainage, Reinforcement, Protection (Cushion), Barrier Or Containment, Erosion Control
• By Application: Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-pacific was the largest region in the Geosynthetics market.
The Business Research Company's "Global Geosynthetics Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Geosynthetics Market Include:
1. Executive Summary
2. Geosynthetics Market Characteristics
3. Geosynthetics Market Trends And Strategies
4. Geosynthetics Market - Macro Economic Scenario
5. Geosynthetics Market Size And Growth
………………………………
26. Africa Geosynthetics Market
27. Geosynthetics Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Geosynthetics Market
29. Geosynthetics Market Future Outlook and Potential Analysis
30. Appendix
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