Press release
U.S. Geosynthetics Market to exceed USD 3 billion by 2024
Strict environment norms implemented by EPA and REACH for construction industries coupled with increase in infrastructure spending in residential sector owing to massive movement of migrants to western countries and rising living standards of consumers should propel industry growth. Growth in geotextile market size is expected in construction application due to superior characteristics such as tensile strength, porosity, flexibility, permeability and compatibility should boost geosynthetics demand.
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U.S. geosynthetics market size is poised to exceed USD 3 billion by 2024. American Association of State Highway and Transportation Officials (AASHTO) had designed standard specifications for geosynthetics including geotextiles and enrolled installation rules for application in drainage, separation, slit fencing, pavement and erosion control program. These products possess high mechanical strength and hydraulic property, which in turn prevent cracking, subgrade mixing and increases road life time.
Geotextile market size from pavement repair applications should exceed USD 480 million by 2024. It possesses high tensile strength, permeability, abrasion resistance and porosity, thus restricting water percolation and preventing crack formation in pavements and roads. Increasing demand for geotextiles as physical in barrier between the aggregate and weak part of subgrade soil and reduction of repair & construction cost and time should favor geosynthetics market growth.
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Uniaxial geogrids market size is likely to register significant gains at over 4.5% at the end of forecast timeframe. These products are mainly used as reinforcements on weak part of subgrade soils for erosion control and soil stabilization, resulting into longer lifespan of roads. Shifting consumer preference for modern construction along with increasing government spending on infrastructure development should positively influence geosynthetics market growth.
UK geosynthetics demand should expect consumption at over 385 million square meters by 2024. Strict regulation pertaining to solid waste management should enhance product demand. Regulatory bodies are promoting geomembrane application in municipal solid waste management systems. These products also prevent leakage and facilitate flow through designed drainage system. Proper drainage system will eliminate negative waste impact on surface & underground water bodies, thus propelling regional industry growth.
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Japan geocells market size is likely to exceed USD 30 million by the end of projected period. Increasing environmental concerns with rise in consumer awareness for consumption of biodegradable material should drive regional industry growth. Growth in soil erosion control program along with superior properties of the product to allow water passage and retain soil granules should enhance product demand, thereby driving regional geosynthetics market growth.
TENAX, Royal TenCate, Tensar International, Fibertex, TYPAR and Huesker are the prominent industry participants in geosynethtics market. Strong R&D spending by manufacturers in order to comply with various environmental regulations may improve and expand product portfolio thereby stimulating industry growth.
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