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Global market for geosynthetics expected to grow at a more rapid pace in next 5 years

Global market for geosynthetics expected to grow at a more rapid pace in next 5 years

Geosynthetics are defined as polymeric materials used in engineering applications such as civil construction and environmental protection projects (such as landfill). The polymer materials used for this are generally polypropylene, polyethylene and polyester. Based on physical characteristics and subsequent applications, They are further classified into geotextiles, geogrids, geomembranes, geonets, geofoams, geosynthetic clay liners, geopipes, etc. Though there are various types of geosynthetics available in the market, each one performs at-least one or more of the following six basic applications: separation, drainage, filtration, barrier, reinforcement, and protection. Geosynthetic materials are available in various sizes, strengths and textures.
As per RnR Market Research, the global market for geosynthetic materials has grown significantly during the past few years and is expected to grow at a more rapid pace in the next five years, mainly driven by large scale capital projects undertaken by government bodies to improve civic facilities. Asia-Pacific emerged as the largest market of the geosynthetic materials, mostly driven by large investment in projects including building and maintaining transport infrastructure (road and railway), and waste management. China is the leading consumer of these products in the Asia-Pacific region, as it has promoted the use of geosynthetics in building large scale projects. Other Asia-Pacific countries such India, Malaysia, Indonesia, and South Korea are also investing in large scale infrastructure projects, construction projects, civil and environment-protection applications. This will boost the future growth of geosynthetic market as it is recommended as one of the best quality materials in the civil engineering projects. Demand from the developed regions, (especially U.S.) will remain healthy, on the back of rising consumption of geosynthetics in waste management.

The global Geosynthetics market has grown significantly during the past few years and is expected to display higher growth rates in the next five years, as per MarketsandMarkets.  Global geosynthetics market is currently dominated by the Asia-Pacific and North America. The demand from the road industry and waste management sectors fueled the growth in these regions. In the coming years, demand from the emerging countries is likely to increase on the account of rising awareness about the benefits of geosynthetics in civil constructions. Geosynthetics application in the transport sector has increased tremendously, as it increases the strength and stability of the underlying soil in roadway and railway tracks. Geosynthetics are largely manufactured from the polymeric materials, which retain their properties when exposed to harsh environmental conditions. Thus, geosynthetics demand in the environmental projects (safe disposal of general waste, hazardous waste, and industrial waste) will continue to grow from both developed and emerging markets. The global geosynthetics market, by volume, is led by geotextiles, with a 67% share in 2012. The demands for the same are estimated to grow at a CAGR of 8.9% from 2013 to 2018. Geomembrane was the second largest geosynthetic type, both in terms of revenue and volume in 2012. Asia-Pacific has emerged the most dominant region, both in terms of volume and value, marginally ahead of North America, and followed by Europe and Rest of World. USA and China are likely to remain major markets for the geosynthetics, while developing economies such as India, South Africa, Brazil, Malaysia, Indonesia etc. will fuel the future growth. The major players of geosynthetics include FiberWeb PLC (UK), Low & Bonar PLC (UK), Propex Global (USA), GSE Environmental (USA), and Agru America (USA). The global geosynthetics market is estimated to reach US$18 bln by 2018, growing at a CAGR of 11.9% from 2013. The high demand of geosynthetics from the transport industry (road and railway), and containment sectors (waste management and water management) will boost future growth.
Within the regional market, Asia dominates the global geotextile industry. It is estimated to reach $2.5 billion by 2017. The growth of Asian market is expected to be highest among all regions. North American region is the second largest market of geotextiles and is estimated to reach a value of US$1.7 bln by 2017. Nonwoven geotextile is the major market segment for global geotextiles industry followed by woven geotextiles. These two types of products cover a major portion of the global geotextiles market with most of the market players involved in manufacturing and supplying of these product types. Some of the major manufacturers developing these product types include TenCate, NAUE, Huesker Synthetic, Fiberweb, and Propex. Knitted geotextiles form a small part of the global geotextiles industry. The geotextiles market report gives a competitive scenario between the major players by evaluating the objectives of their different developments namely Mergers and acquisitions, Partnerships and agreements, New products launch, and Expansions. This gives a holistic view about the long term plans of the key market players in geotextile industry. Furthermore, the report also profile these companies in order to provide elaborative information such as company overview, financials, products and services, developments and strategies these companies are adopting in order to mark their presence in the market. The Asian geotextiles market is expected to have the largest demand for geotextiles in the coming few years with China leading the regional claim. The large scale infrastructural projects in the Asian region have led to drastic rise in the geotextiles need. The European and North American markets are also huge in terms of volume and are having moderate growth rate when compared to the Asian continent.

As per Grand View Research, the global market for geotextiles is expected to reach US$8.24 bln by 2020. Increased focus on geotextiles and its applications in roadways and erosion prevention is expected to be a key driver for the growth of the market. In addition, growing regulatory support in emerging countries including India, China, UAE and Brazil is also expected to augment the demand for geotextiles over the forecast period. Road construction and erosion control were the largest applications of geotextiles together accounting for over 60% of global demand in 2013. Increasing infrastructure spending in Asia Pacific, Middle East and Latin America are expected to act as key factors for driving geotextile demand for this application. Road construction is also expected to be the fastest growing segment over the forecast period, at an estimated CAGR of over 9% from 2014 to 2020. Further key findings from the study suggest:
  • The global geotextiles demand is expected to reach 4,323 million square meters by 2020 growing at a CAGR of 8.9% from 2014 to 2020.
  • Asia Pacific was the largest geotextile consumer and is also expected to be the fastest growing regional market over the forecast period, at an estimated CAGR of 9.1% from 2014 to 2020. North America is also expected to witness significant growth on account of repair and maintenance for the vast road network of the region. European geotextile market revenue is expected to reach US$1.97 bln by 2020, growing at a CAGR of 9.6% from 2014 to 2020.
  • Non woven geotextiles were the most commonly used geotextiles in 2013, at an estimated consumption of 1,561 million square meters. Low cost and wide application scope make non-wovens the most preferred among other geotextiles products. Knitted geotextile demand is expected to reach 279.8 million square meters by 2020, growing at a CAGR of 7.1% from 2014 to 2020.
  • The global geotextiles market is fragmented with the top 6 companies catering to about 40% of global demand in 2013. Key players in the market include Royal Tencate, NAUE, Low and Bonar and Propex among others.
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