Technavio projects the global geosynthetics market to post a CAGR of more than 10% during the forecast period, 2018-2022. The rising awareness about environmental protection is a key driver, which is expected to impact market growth.
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Technavio has published a new market research report on the global geosynthetics market from 2018-2022. (Graphic: Business Wire)
Environmental protection and sustainable development have emerged as important factors for many nations across the globe, with more than 20 global environmental treaties being signed. Governments are strictly monitoring and regulating the disposal of industrial and animal waste to prevent environmental degradation. The use of geomembranes and geosynthetic clay liners (GCL) as bottom-liners for waste containment, cut-off walls, and landfill enclosures and covers are mandated by environmental agencies. This is expected to positively impact market growth during the forecast period.
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In this report, Technavio highlights the development of robust membranes as one of the key emerging trends to drive the global geosynthetics market:
Development of robust membranes
Geomembranes are used in a wide variety of applications such as liners for waste, radioactive and hazardous materials, and water conveyance canals. They are also used as covers for landfills, power plants, and provide water-proofing solutions. The increased use of geomembranes drives the demand for strong, robust, and rigid geomembranes.
According to a senior analyst at Technavio for metals and minerals research, “HDPE geomembranes are quickly disfigured, leaked, punctured, and torn when they are subjected to huge weights. Therefore, manufacturers are developing innovative geomembranes to cater to the needs of existing users and explore other potential markets.”
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Market segmentation and analysis through 2022
This market research report segments the global geosynthetics market by type (geotextiles, geomembrane, geogrids, and others) and key regions (the Americas, APAC, and EMEA).
The geotextiles segment dominated the market accounting for over 52% in 2017, which is expected to increase further by 2022. The geogrids segment is the only other segment which will exhibit growth during the forecast period.
In 2017, the global geosynthetics market was led by APAC which accounted for over 39% share followed by EMEA and the Americas respectively. APAC is expected to witness a significant increase of close to 2% in its market share over the forecast period, thereby consolidating its lead.
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