Global Geosynthetics Market

Geosynthetics Market Size, Share, Growth Analysis, By Application(Waste Management, water management), By Type(Geotextile, Geomembrane) - Industry Forecast 2024-2031

Report ID: SQMIG15E2173 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 74

Geosynthetics Market News

  • In November 2022, Hanes Geo Components, a wholly owned subsidiary of Leggett & Platt, has reached an agreement to acquire the majority of the business and assets of Edmonton based Nilex Inc. and its wholly owned subsidiary Nilex USA Inc. with a view to continuing to operate Nilex’s business on a going-concern basis.
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Geosynthetics Market size was valued at USD 13.2 billion in 2019 and is poised to grow from USD 14.72 billion in 2023 to USD 37.9 billion by 2031, growing at a CAGR of 11.2% in the forecast period (2024-2031).

Competition in the Geosynthetics market is expected to increase during the forecast period because new players are expected to enter the market and the number of waste management services compatible with Geosynthetics will also increase. Currently, only a few key players are providing their services in the market but these numbers will increase in the upcoming years. 'TenCate Geosynthetics', 'Solmax', 'NAUE GmbH & Co. KG', 'GSE Environmental', 'Low & Bonar', 'Officine Maccaferri S.p.A.', 'Propex Global', 'Huesker Synthetic GmbH', 'Fibertex Nonwovens A/S', 'Tensar International Corporation', 'AGRU Kunststofftechnik GmbH', 'Thrace Group', 'CETCO (Minerals Technologies Inc.)', 'Geofabrics Group', 'Atarfil', 'Carthage Mills', 'Raven Industries, Inc.', 'Colorado Lining International, Inc.', 'TYPAR Geosynthetics'

Rapid increase in industrialization, population and urbanization is contributing to large levels of solid and liquid waste across the globe.On the other hand, the rising population awareness leading to an increasing demand for appropriate waste and water management projects is also increasing.Therefore, Geosynthetics come into play and are used as landfill caps to prevent the migration of fluid into landfills by reducing or eliminating the post closure generation of leachate and associated treatment cost.The various other advantages of geosynthetics in linear system such as waste treatment lagoons at wastewater treatment plants to protect water resources including lakes, rivers, ponds, and reservoir is expected to boost the demand for geosynthetics in future.

One of the largest consumers of the geosynthetic industry is the mining industry.In recent years, the country is in Asia and Pacific region and has seen the metal and mineral demands on large level that is to drive the mining industry.Many countries across the globe have larger mining capacities of various material and witness the increasing investments from foreign companies over the few years.The technological advancement and increasing adoption of mining in the region sucrose the globe will drive the geosynthetic market during the period.

Globally,Asia Pacific is estimated to hold the highest Geosynthetics market share. Main factors during this growth period are the presence of top market players,Rising demand for oil reinforcement reinforcement in the foundation work of residential building in the emerging economies like China and India and others.

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Global Geosynthetics Market

Product ID: SQMIG15E2173