Geosynthetics Market Size to Register USD 12 Billion During the Period 2017-2024
Increasing need for improved infrastructure in public and private sectors, along with stringent regulatory norms should propel geosynthetics market. Increasing urbanization in India, Brazil and China along with supportive government policies towards infrastructure development such as road, dam, and canal, thereby stimulating industry growth.
Geosynthetics Market is set to surpass USD 12 billion by 2024; according to a new research study published.
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Geotextile market from pavement repair applications may witness over USD 700 million by the end of forecast period. It possesses tensile strength, permeability, porosity and abrasion resistance, thus preventing crack formation and restricting water percolation in pavements and roads. Rising demand for geotextiles as physical barrier between the weak and aggregate subgrade soil and reduction of repair and construction cost and time should propel geosynthetics market growth.
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 is expected in construction application due to superior characteristics such as tensile strength, porosity, flexibility, permeability and compatibility should boost geosynthetics demand.
U.S. geosynthetics market 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.
Polyester based geocells market demand is poised to exceed USD 55 million over the forecast timeframe. It possesses long term design strength, high tenacity, and high oriented polyester filament which provides superior engineering properties. It is preferably designed for improved performance in earth reinforcement and load support applications, which may further boost geosynthetics market.
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.
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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Related Reports: -
Global Geosynthetics Market Research Report 2018
In this report, the global Geosynthetics market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025. Geogr...
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