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Geosynthetics Global Market Report 2024 by The Business Research Company | 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
Geosynthetics Market Trends
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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Geosynthetics Market Major Segments
The geosynthetics market covered in this report is segmented -
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
Key Driver - Growth In Construction Industry
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.
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Prominent Trend - Strategic Partnerships And Collaborations Among Market Players
Strategic partnerships and collaborations have emerged as a key trend gaining popularity in the geosynthetics market. 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.
Geosynthetics Market Players
Major companies operating in the geosynthetics market include 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, Asahi Kasei Advance Corporation, Belton Industries Inc., Propex Operating Company LLC, Global Synthetics Pty Ltd., TYPAR, Tenax Pidilite India Private Limited, Solmax International Inc., CETCO Minerals Technologies Inc., Carthage Mills, Geofabrics Australasia, Geosynthetics Limited, Hanes Geo Components, Kaytech Engineered Fabrics, Maccaferri Canada Ltd., Mattex Geosynthetics, Nilex Inc., Owens-Corning Fiberglass Company, Polymer Group Inc., Presto Geosystems, Raven Industries, Strata Systems, TenCate Geosynthetics Americas, Thrace Group, Titan Environmental Containment, Tuflex India Pvt. Ltd., Wrekin Products Ltd.
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Largest And Fastest Growing Region In The Market
Asia-pacific was the largest region in geosynthetics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the geosynthetics market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Geosynthetics Market Report Structure
3. Geosynthetics Market Trends And Strategies
4. Geosynthetics Market - Macro Economic Scenario
5. Geosynthetics Market Size And Growth
…..
27. Geosynthetics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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