The global geosynthetics market was surpassed at USD 13.9 billion in 2021 and is expected to hit around USD 24.8 billion by 2030, growing at a CAGR of 6.64% from 2022 to 2030.
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.
Scope of The Report
|Market Size in 2021||USD 13.9 billion|
|Revenue Forecast by 2030||USD 24.8 billion|
|Growth rate from 2022 to 2030||CAGR of 6.64%|
|Forecast Period||2022 to 2030|
|Companies Covered||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|
The geotextiles product segment led the market in 2021 and accounted for more than 48.5% share of the global revenue. The segment dominated the market on account of its better performance and functional advantages over other materials. The synthetic fibers used in manufacturing geotextiles are made up of PP, polyethylene polyester, and polyamide. Geomembranes are estimated to expand at a steady CAGR, in terms of revenue, from 2022 to 2030 on account of the rising awareness regarding the product’s application as floating covers for reservoirs to control evaporation, reduce the Volatile Organic Compounds (VOCs) emission, and minimize the demand for drainage and cleaning.
Geogrids are increasingly used in railway and road infrastructure development for reinforcement of the structural base over soft soils on account of their exceptional bearing capacity. Moreover, geogrids are used in retaining walls for reinforcement of railway abutments and bridges. Thus, the aforementioned factors are expected to bolster the market growth over the forecast period. 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. The increasing penetration of the product in erosion control owing to its attributes of slowing down the surface runoff is likely to complement the segment growth.
Asia Pacific dominated the market in 2021 and accounted for the largest share of more than 41.8% of the global revenue. The rising demand for oil reinforcement in the foundation work of residential buildings in the emerging economies of China and India is expected to drive the overall regional market over the forecast period. Europe accounted for a significant share owing to various construction directives, such as 89/106/EEC and M/107 European Union, which have mandated the application of geosynthetics for infrastructure projects. Furthermore, the German government imposed stringent regulations related to waste management practices in the municipal and industrial sectors.
Increasing infrastructural activities in the developing economies of Central and South America, including Brazil, are likely to boost the use of geosynthetics over the forecast period. Rising product usage in water management practices is expected to boost the regional market growth. The regional market is also driven by the flourishing offshore oil and gas sector in Argentina, Venezuela, and Brazil. Middle East and Africa is an emerging market for geosynthetics. Increasing civil and commercial construction activities in the region, including the construction of stadiums and hotels, are likely to fuel the demand for composite building materials, such as geosynthetics, over the forecast period.
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