Global Geosynthetics Market is expected to reach USD
27.08 billion by 2022, according to a new study by Grand View Research, Inc.
Construction industry growth in India, China and Middle East, on account of
rising expenditure on infrastructure development is expected to be a crucial
driving factor for geosynthetics market growth.
Increasing application of
geotechnical products for controlling seepage problems in building and
irrigation projects is expected to have a favourable impact. Growing shale gas
production in U.S. and Canada on account of increasing expenditure on hydraulic
fracturing at domestic level may drive industry growth in the near future.
Geotextiles market were the
largest product segment with demand estimated over 4,300.0 million square
meters in 2014. They find application in erosion control and soil reinforcement
on account of properties such as flexibility, permeability and enhanced thickness.
Europe geosynthetics market
volume, by product, 2012-2022, (Million square meters)
Browse full research report on
Geosynthetics
Market
Further key findings from
the report suggest:
- Global
geosynthetic market size was 6,124.0 million square meters in 2014 and is
expected to reach above 9,000.0 million square meters by 2022, growing at
a CAGR of 5.1% from 2015 to 2022.
- Roads &
pavements accounted for over 30% of global volume in 2014. Geogrids and
geotextiles are incorporated for soil reinforcement and facilitating
filtration during road construction.
- Containment
& waste water application is expected to witness the fastest growth in
terms of volume, at a CAGR of 5.7% from 2015 to 2022. Rising importance of
waste water treatment in mining and upstream oil & gas sectors is
expected to increase geotechnical product use in the near future.
- Asia Pacific
geosynthetic market was valued over USD 6,100 million in 2014. The
Government of India announced Make in India Campaign in September 2014
which is aimed at increasing manufacturing output through foreign direct
investment at domestic level. This supportive plan is expected to increase
expenditure in construction industry and thus likely to have a positive
impact on the market.
- Key
geosynthetic manufacturers include Agru America Inc, TenCate, NAUE, Low
& Bonar PLC, GSE, Asahi-Kasei and Officine Maccaferri. In February
2015, Propex launched erosion control solution under the brand name,
Propex TeetoGreen technology, intended for the golf course industry. This
technology is designed for providing solution to challenges pertaining to
soil erosion faced by club managers, golf course owners, builders and
superintendents.
For
more information: http://www.grandviewresearch.com
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