Current and Projected Geosynthetics Market size in terms of volume and value 2014-2020 by FMI Estimate
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Geosynthetics are polymer products used for infrastructure solutions in civil engineering, coastal engineering, construction industry and environmental protection projects. Geosynthetic materials are generally made up of polyethylene, polypropylene and polyester. Geosynthetics are segmented based on physical characteristics in following types including geonet, geotextile, geomembrane, geogrid, geosynthetic clay liner, geofoam, geocomposite and geocell. The major applications of geosynthetics include road, water management, railroad stabilization, mining, erosion control, waste management, soil reinforcement in civil construction among others.
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Rising demand from transportation industry is expected to drive the geosynthetics market as it provides stability and strength to the underlying soil. Geosynthetics are generally manufactured from polymers that form a grid like structure and exhibit strong physical properties even at harsh conditions. These are used at sub-layers of roads and bridges to provide stiffness and strength. One of the major benefits of geosynthetics is that they are easy to install which is expected to boost the consumption in transportation industry. In addition, government policies which are fuelling the infrastructure growth across the regions are expected to drive the geosynthetic market. Additionally, need for environmental projects such as industrial and hazardous waste management is encouraging the government to impose policies for the use of geosynthetics. Cost effectiveness of geosynthetic materials as compared to metal and fiber is expected to give upper hand for growth of the market.
However, lack of awareness of application and benefits associated with use of geosynthetic materials in infrastructure is expected to hamper the market growth. Use of geosynthetics is less in developing countries as compared to developed countries due to lack of awareness. Further, geosynthetic materials including polystyrene, polypropylene is crude oil derivatives and is subjected to crude oil price volatility. Demand from developing economies is expected to provide immense opportunities for the geosynthetics market in the near future. Demand from oil & gas industry, mining industry and rising regulatory standards are expected to provide immense opportunities for geosynthetic market in the near future. Geosynthetic materials can be used as a base for constructing oil wells and developing robust yet cost effective infrastructure for the mining industry.
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Asia Pacific was the largest consumer of geosynthetics, closely followed by North America. Owing to large investments including waste management and building and maintenance of transport infrastructure is expected to drive the market in this region. China is the largest consumer and other countries including Indonesia, India, Malaysia and South Korea are investing hugely in construction projects, civil & environmental projects. Due to government regulations and high awareness about the benefits of geosynthtic materials in infrastructure projects, the demand for geosynthetics is expected to grow at a substantial pace in North America. Demand from Europe was submissive owing to less number of new infrastructure projects, however repairing and improving of existing infrastructure is expected to drive the geosynthetics market in this region. Major players are not investing in the rest of the world, due to lower investments in infrastructure projects and slow GDP growth rates. Oil & mining industry is this region is expected to drive the geosynthetic market in this region.
The global geosynthetics market is fragmented with major players located in developed countries and new entrants are coming up in developing countries owing to government regulations. Key players in the market include Low & Bonar PLC, GSE Environmental, FiberWeb PLC, Agru America, Propex Global, Asahi Geotechnologies Co. Ltd., Hanes Geo Components, Officine Maccaferri, Royal Tencate NV, Tansar Corporation, Contech Engineered Solutions LIC, Huesker Synthetic GMBH, Naue GMBH & Co. KG among others.
Browse Full Report@ http://www.futuremarketinsights.com/reports/global-geosynthetics-market
Rising demand from transportation industry is expected to drive the geosynthetics market as it provides stability and strength to the underlying soil. Geosynthetics are generally manufactured from polymers that form a grid like structure and exhibit strong physical properties even at harsh conditions. These are used at sub-layers of roads and bridges to provide stiffness and strength. One of the major benefits of geosynthetics is that they are easy to install which is expected to boost the consumption in transportation industry. In addition, government policies which are fuelling the infrastructure growth across the regions are expected to drive the geosynthetic market. Additionally, need for environmental projects such as industrial and hazardous waste management is encouraging the government to impose policies for the use of geosynthetics. Cost effectiveness of geosynthetic materials as compared to metal and fiber is expected to give upper hand for growth of the market.
However, lack of awareness of application and benefits associated with use of geosynthetic materials in infrastructure is expected to hamper the market growth. Use of geosynthetics is less in developing countries as compared to developed countries due to lack of awareness. Further, geosynthetic materials including polystyrene, polypropylene is crude oil derivatives and is subjected to crude oil price volatility. Demand from developing economies is expected to provide immense opportunities for the geosynthetics market in the near future. Demand from oil & gas industry, mining industry and rising regulatory standards are expected to provide immense opportunities for geosynthetic market in the near future. Geosynthetic materials can be used as a base for constructing oil wells and developing robust yet cost effective infrastructure for the mining industry.
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Asia Pacific was the largest consumer of geosynthetics, closely followed by North America. Owing to large investments including waste management and building and maintenance of transport infrastructure is expected to drive the market in this region. China is the largest consumer and other countries including Indonesia, India, Malaysia and South Korea are investing hugely in construction projects, civil & environmental projects. Due to government regulations and high awareness about the benefits of geosynthtic materials in infrastructure projects, the demand for geosynthetics is expected to grow at a substantial pace in North America. Demand from Europe was submissive owing to less number of new infrastructure projects, however repairing and improving of existing infrastructure is expected to drive the geosynthetics market in this region. Major players are not investing in the rest of the world, due to lower investments in infrastructure projects and slow GDP growth rates. Oil & mining industry is this region is expected to drive the geosynthetic market in this region.
The global geosynthetics market is fragmented with major players located in developed countries and new entrants are coming up in developing countries owing to government regulations. Key players in the market include Low & Bonar PLC, GSE Environmental, FiberWeb PLC, Agru America, Propex Global, Asahi Geotechnologies Co. Ltd., Hanes Geo Components, Officine Maccaferri, Royal Tencate NV, Tansar Corporation, Contech Engineered Solutions LIC, Huesker Synthetic GMBH, Naue GMBH & Co. KG among others.