The global geomembrane market is expected to reach USD 2.43
billion by 2025, according to a new report by Grand View Research, Inc.
Increasing spending towards waste and water management programs in Germany,
Russia, China, and India is anticipated to drive the market. In addition,
positive outlook towards mining industry in Middle East countries, South
Africa, Peru, and Chile is expected to play a crucial role in increasing the
application of geomembrane as a barrier medium to control industrial waste.
HPDE was the most extensively
used raw material accounting for 32.6% of the global geomembrane market volume
in 2015. Low cost, ease of installation, good welding strength, excellent
low-temperature performance and good thermal stability during exposure makes
HDPE as a favorable choice of raw material for the production geomembrane.
Global geomembranes market
volume, by application, 2015
Browse full research report on
Geomembrane
Market
Further key findings from
the report suggest:
- The global
demand for geomembranes was 809.9 million square meters in 2015 and is
expected to witness growth on account of its increasing usage for water
management, mining, and civil construction
- EPDM is
increasingly used as a raw material for the production of geomembrane on
account of providing good flexibility, excellent mechanical strength, and
effective UV resistance, and thus, is expected to witness the fastest
growth at a CAGR of 6% over the forecast period. Geomembrane manufacturers
mix EPDM with carbon black, curing agents and processing chemicals to produce
larger sheet sizes which induce properties including excellent elastic
elongation and superior weathering resistance.
- The global
market for extruded geomembranes was 486.5 million square meters in 2015,
making it the most widely utilized technology for manufacturing. Extrusion
results in the formation of thin sheets which allows for flexibility of
the geomembranes resulting in increasing its durability under stress.
- The robust
presence of mining base in Australia and China in light of the abundance
of minerals such as steel and diamond, respectively, coupled with
improvement in mining sectors of African countries including South Africa
and Nigeria in light of regulatory support is expected to result in
significant demand for geomembranes. Mining is expected to grow at a CAGR
of 4.9%, in terms of volume over the forecast period.
- Asia Pacific
was the largest consumer of geomembranes in 2015 accounting for 34.3% of
the global volume share, and the trend is expected to continue over the
forecast period. Rising awareness towards engineering polymers in the
construction industry of emerging economies including China and India in
light of new capacity additions by companies including BASF and Dow at the
domestic level is expected to new markets over the next seven years.
- Key operating
companies in the market include GSE Holdings, AGRU, CETCO, NAUE, and
Solmax. Companies are focusing on expanding their market share via
numerous strategies including mergers & acquisition and capacity
expansions. For instance, in May 2014, GSE Environmental, Inc. opened a
new manufacturing facility in Suzhou, China. In February 2014, GSE Holding
signed a global distribution agreement with Tenax Group. This agreement
will enable GSE Holding to distribute the products of Tenax Group, which
include reinforced geosynthetics on a global level.
For
more information: http://www.grandviewresearch.com
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