The global geosynthetics market size is expected to reach USD 24.60 billion by 2030, registering a CAGR of 6.9% from 2024 to 2030, according to a new report by Grand View Research, Inc. Rapid infrastructure development in emerging economies, such as India and Brazil, is anticipated to fuel the market growth over the forecast period. Infrastructure development in India, China, and the Middle East in light of regulatory inclination to increase expenditure on road transport is expected to drive the market. The European Union directive 2008/98/EC sets the basic regulations for waste management and ways for efficient landfill containment.
This regulatory inclination in Europe is expected to increase the application of geosynthetics in the near future. The product is widely used for base reinforcement, separation, and stabilization of roads and pavements. These products also find application in subsurface drainage systems for dewatering, road base, and structure drainage. The market is characterized by the presence of large-scale manufacturers catering to the global demand. The demand for geosynthetics is high in developing economies including India and China, owing to the sanction and commencement of infrastructural development projects in the developing economies. Key market players are undertaking mergers and collaborations to expand their reach and increase production capacity, thereby advancing their market share.
Access the Geosynthetics Market Size, Share & Trends Analysis Report By Product (Geotextiles, Geomembranes, Geogrids), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2024 - 2030
Geosynthetics Market Report Highlights
· Geotextiles led the market in 2023 with a revenue share of more than 48.4%. The segment dominated the market on account of their better performance and functional advantages over other materials.
· Geomembranes are estimated to expand at a CAGR of 5.2% in terms of revenue from 2024 to 2030 considering the rising awareness regarding the product’s application as floating covers for reservoirs to control evaporation, reduce Volatile Organic Compounds (VOCs) emission, and minimize demand for drainage and cleaning.
· Geogrids are increasingly used in railway and road infrastructure development for reinforcement of structural bases over soft soils on account of their exceptional bearing capacity.
· Geonets are incorporated as separation media in the collection of landfill leachates, foundation wall systems in drainage, road, and pavement drainage systems, and methane gas collection.
Key Companies & Market Share Insights
Key industry participants are entering into strategic agreements with raw material suppliers and equipment manufacturers to maintain an uninterrupted supply. Factors such as the expansion of manufacturing capacities in the developing economies of the Asia Pacific and the Middle East offer a competitive edge to the geosynthetics manufacturers.
Key players in the market are entering into agreements with emerging players to expand their distribution capacities, thereby increasing their market reach. In addition, companies are likely to establish partnerships with e-commerce portals to ensure that buyers have timely access to geosynthetic products.
• In September 2023, Titan Environmental Containment acquired Hewitt Geosynthetics, ageosynthetics company from Greater Toronto Area, Canada. Titan Environmental Containment provides high-quality geosynthetic solutions and specialized civil engineering construction services to extend the service life of critical infrastructure while conserving valuable natural resources. Under the terms of the agreement, Titan absorbed Hewitt's current client base in Canada and in the U.S.
• In July 2023, India-based Hella Infra Market Pvt. Ltd. acquired Strata Geosynthetics. The acquisition was aimed to concentrate on growing the presence of Strata Geosynthetics’ core markets and expanding brand to new markets.
Order your free sample copy of “Geosynthetics Market Report 2024 - 2030, published by Grand View Research
Key Geosynthetics Companies:
• GSE Holdings, Inc.
• Koninklijke Ten Cate N.V.
• Officine Maccaferri S.p.A.
• NAUE GmbH & Co. KG
• Propex Operating Company, LLC
• Low and Bonar PLC
• TENAX Group
• Fibertex Nonwovens A/S
• Global Synthetics
• AGRU America
• TYPAR
• HUESKER Group
• PRS Geo-Technologies
• Tensar International Corporation
• Solmax
About Grand View Research:
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit www.grandviewresearch.com
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Grand View Research, Inc.
Phone: 1-415-349-0058
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