The global Geosynthetics market is forecast to reach USD 22.11 Billion by 2027, according to a new report by Reports and Data. These are polymeric products used in geotechnical engineering and construction applications. They are made of high-density polyethylene, polyester, and polypropylene. Geosynthetics are economical, very durable, and versatile materials in various hydraulic, geotechnical, and environmental applications. They can be integrated to serve as reinforcements, separators, barriers against liquids and gases, filters, and drainage facilitators. It also has several favorable physical properties such as durability, strength, and stiffness. They retain their properties when exposed to cold environmental conditions. They provide strength and stability to the underlying ground of roads and railways.
Global acceptance of the market product is expected to stimulate growth in the global geosynthetics market. Emerging and developed countries are investing heavily in environmental and infrastructure projects, which are expected to fuel market growth. Several other factors influencing the market include regulatory support for improving municipal facilities, the growing demand for waste and water treatment applications, and the national governments have taken on several projects. Geosynthetics are highly preferred in environmental activities and civil construction, such as filtration and landfill. The transport sector makes extensive use of geosynthetics, which are expected to increase. The continually growing demand for it for the safe dumping of ordinary, industrial, and hazardous wastes could propel the growth of the market. However, the fluctuating prices of raw materials are the main factor restricting the market.
The COVID-19 impact: The COVID-19 pandemic is expected to have a massive downward impact on the global Geosynthetics market in 2020, the reason being the halt in the construction industry, which was responsible for the significant demand in market share terms in 2019. After the pandemic, however, trends discussed in the study of the global market do hold ground.
Also, supply chain disruptions and production shutdowns have resulted in a downgraded outlook for the transportation industry, which is a significant market for Geosynthetics application, which will have short-term impacts on its sales that could have lasting effects. While the industry expects things to return to near normal state well before the end of 2020, negative demand shock caused by the crisis is likely to last.
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Key participants include DowDuPont, ACE Geosynthetics, ACH Foam Technologies, Agru America Inc., Avintiv Inc., Belton Industries Inc., Bonar Corporation, Carthage Mills, Contech Engineered Solutions LLC, and CETCO, among others.
Further key findings from the report suggest
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Market Overview:
Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Geosynthetics market.
For the purpose of this report, Reports and Data have segmented into the global Geosynthetics market on the basis of Type, Function, End-Use Industry, and Region:
Type Outlook (Revenue, USD Billion; 2017-2027)
Function Outlook (Revenue, USD Billion; 2017-2027)
End-Use Industry Outlook (Revenue, USD Billion; 2017-2027)
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