Geosynthetics market projected to reach 5.6 bln sq mtr by 2018 amid high demand from Asia-Pacific

18-Jun-14

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. U.S. 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 (U.K.), Low & Bonar PLC (U.K.), Propex Global (U.S.), GSE Environmental (U.S.), and Agru America (U.S.). 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.