Press release
Geosynthetics Market Size To Grow At A CAGR Of 9.0% In The Forecast Period Of 2024-2033
Geosynthetics
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the geosynthetics industry. This report on geosynthetics market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The geosynthetics market size has grown strongly in recent years. It will grow from $12.65 billion in 2023 to $13.79 billion in 2024 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to infrastructure development, environmental regulations, urbanization, landfill construction, mining and oil & gas.
The geosynthetics market size is expected to see strong growth in the next few years. It will grow to $19.45 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to climate change resilience, waste management and recycling, infrastructure resilience, water and wastewater treatment, coastal protection.
Major trends in the forecast period include geosynthetic reinforcement for roadways, geosynthetic liners in landfills, geotextiles in agriculture, advanced geocomposite technologies, sustainable material innovations.
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Key Market Players:
Koninklijke Ten Cate BV, GSE Holdings Inc., NAUE GmbH & Co. KG, Fibertex Nonwovens A/S, HUESKER Synthetic GmbH, Tensar International Corporation, AGRU America Inc., Low & Bonar PLC, Groupe Solmax Inc., Officine Maccaferri SpA.
Market Drivers:
According to the Geosynthetics Market Report 2024 by The Business Research Company, the growth of the construction industry is contributing to the growth of the geosynthetics market. 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. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, the growth of the construction industry is expected to drive the growth of the geosynthetics market going forward.
More information about the Global Geosynthetics Market Report - https://www.thebusinessresearchcompany.com/report/geosynthetics-global-market-report
Market segments for geosynthetics include:
1) By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Other Types
2) By Material: Polyethylene, Polypropylene, Polyester, PVC, Other Materials
3) By Function: Separation, Filtration, Drainage, Reinforcement, Protection (Cushion), Barrier Or Containment, Erosion Control
4) By Application: Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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