Geosynthetics Market Worth $27.08 Billion By 2022: Grand View Research, Inc.
Global geosynthetics market is expected to reach USD
27.08 billion by 2022, according to a new study by Grand View Research, Inc.
Construction industry growth in India, China and Middle East, on account of
rising expenditure on infrastructure development is expected to be a crucial driving
factor for geosynthetics market growth.
Increasing application of geotechnical products for
controlling seepage problems in building and irrigation projects is expected to
have a favourable impact. Growing shale gas production in U.S. and Canada on account
of increasing expenditure on hydraulic fracturing at domestic level may drive
industry growth in the near future.
Geotextiles market were the largest product segment
with demand estimated over 4,300.0 million square meters in 2014. They find
application in erosion control and soil reinforcement on account of properties
such as flexibility, permeability and enhanced thickness.
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Further
key findings from the study suggest:
- Global geosynthetic market size was 6,124.0
million square meters in 2014 and is expected to reach above 9,000.0
million square meters by 2022, growing at a CAGR of 5.1% from 2015 to
2022.
- Roads & pavements accounted for over 30% of
global volume in 2014. Geogrids and geotextiles are incorporated for soil
reinforcement and facilitating filtration during road construction.
- Containment & waste water application is
expected to witness the fastest growth in terms of volume, at a CAGR of
5.7% from 2015 to 2022. Rising importance of waste water treatment in
mining and upstream oil & gas sectors is expected to increase
geotechnical product use in the near future.
- Asia Pacific geosynthetic market was valued over
USD 6,100 million in 2014. The Government of India announced Make in India
Campaign in September 2014 which is aimed at increasing manufacturing
output through foreign direct investment at domestic level. This
supportive plan is expected to increase expenditure in construction
industry and thus likely to have a positive impact on the market.
- Key geosynthetic manufacturers include Agru
America Inc, TenCate, NAUE, Low & Bonar PLC, GSE, Asahi-Kasei and
Officine Maccaferri. In February 2015, Propex launched erosion control
solution under the brand name, Propex TeetoGreen technology, intended for
the golf course industry. This technology is designed for providing
solution to challenges pertaining to soil erosion faced by club managers,
golf course owners, builders and superintendents.
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Grand
View Research has segmented the global geosynthetics market on the basis of
product, application and region:
Global Geosynthetics Product
Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2022)
- Geotextiles
- Geomembranes
- Geogrids
- Geonets
- Others
Global Geosynthetics
Application Outlook (Volume, Million square meters; Revenue, USD Million, 2012
- 2022)
- Road &
Pavements
- Railroads
- Drainage Systems
- Soil
Reinforcement & Erosion
- Containment &
Waste Water
- Others
Global Geosynthetics Regional
Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2022)
- North America
- U.S.
- Europe
- Germany
- Asia Pacific
- China
- Australia
- Latin America
- Brazil
- MEA
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About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: http://www.grandviewresearch.com
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