The overall Global Geomembranes market is expected to grow at a CAGR of 12.16% in terms of revenue and at a CAGR of 9.58% in terms of volume during the period of 2014-2019, as per ReportsnReports.com. Geomembranes are synthetic membrane liners used in geotechnical engineering to contain or control the flow of fluids or vapors. The two common processes used to manufacture geomembranes are calendering and extrusion; the raw materials used are polyethylene, bitumen composites, or geotextiles in combination with polymer sprays, colorants, asphalt, or elastomers. HDPE, LDPE, PVC, PP, and EPDM are the most widely used forms.
Geomembranes are vital to the Waste Management, Water Management, and Mining industries.
One of the major trends in the global geomembranes market is the huge opportunities in the mining industry. Governments in many countries are taking initiatives to map unexplored mining areas. Geomembrane liners are primarily used in three areas of mining: salt recovery from ponds (evaporation), leaching of mineral-bearing rock, and disposal of rock that has the most mineral value.
Increase in population and industrialization have resulted in the increased waste accumulation and the need for water transportation. This has opened up huge opportunities in the global geomembranes market. Technological advancement and high demand from developing countries such as China and India are expected to drive the Global Geomembranes market. The heap leach mining technology consists of a base that uses HDPE or LDPE lining materials throughout the process, and its adoption and further technological innovation in the various industries will be the major driver in the growth of the global geomembranes market.
The global geomembranes market is estimated to grow at a CAGR of 9.4% till 2019, to reach 815.53 million square meters, as per Research and Markets. The global geomembranes market is a highly challenging but attractive market as majority of the market is in hands of top five players. Though the market is easy to enter as there is ease in manufacturing geomembranes, it is challenging to sustain in the competition. New product developments, constant innovations, sustainable developments, finding niche market are the few strategies that new players should take into account before entering the segment. As the materials prices are directly related to the crude oil prices, providing cost effective geomembranes remains a concern for the manufacturers.
North America was the largest market for geomembranes in 2013 in terms of volume, but the APAC region will surpass this market till 2019.The major materials discussed in the report for manufacturing geomembranes are HDPE, LDPE, PVC, PP, EPDM and others. The major applications are water management, waste management, mining, tunnel liners and others. Mining at present though 35%, it will reach about 50% till 2019 as majority of water applications will be fitted with geomembranes till 2019. Tunnel liners is a new niche application for geomembranes which will remain niche in next five years as there are many substitutes available for that particular application.
As there are many players in the market, the buyer's power is found to be on a high side. On the supplier's side, the power remains low due to constant price fluctuations in material. In APAC countries, majority of geomembranes have been imported from companies in Europe & North America. A lot of potential is available for new players who want to invest in APAC countries in geomembranes market. The laws regarding water consumption, waste management, mining, environment protection and sustainability is driving the geomembranes market.