Geosynthetics Market To Witness A Significant Growth Of USD 24.59 Billion By 2030


 San Francisco, 26 June 2023: The Report Geosynthetics Market Size, Share & Trends Analysis Report By Product (Geotextiles, Geomembranes, Geogrids), By Region (North America, Europe, APAC, MEA), And Segment Forecasts, 2023 - 2030

The global geosynthetics market size is expected to reach USD 24.59 billion by 2030, registering a CAGR of 6.7% over the forecast period, 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 Research Report of Geosynthetics Market @ https://www.grandviewresearch.com/industry-analysis/geosynthetics-market

Geosynthetics Market Report Highlights

  • Geotextiles led the market and accounted for more than 48.54% share of the revenue in 2022.a
  • Geocells is expected to be the fastest-growing product segment during the forecast period. The product is used in multiple military operations including the construction of bridge approach roads over soft ground, transportation of heavy equipment, and filling of the construction materials
  • The geonet segment is projected to register the second-fastest growth rate from 2022 to 2030
  • The high product demand is attributed to its wide application scope coupled with its use for the reinforcement of layers during road construction as well as during the restoration of existing roads
  • Asia Pacific region accounted for the maximum market share in 2022 owing to the rapid urbanization in emerging countries, such as India and China, boosting the demand for soil reinforcement in the foundation work of residential buildings

Geosynthetics Market Report Scope

Report Attribute

Details

Market size value in 2023

USD 15.53 billion

Revenue forecast in 2030

USD 24.59 billion

Growth rate

CAGR of 6.7% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

List of Key Players in Geosynthetics Market

  • 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

Access Press Release of Geosynthetics Market @ https://www.grandviewresearch.com/press-release/global-geosynthetics-market

 

Comments

Post a Comment

Popular posts from this blog

U.K. Point Of Sale Software Market To Expand Industry Growth At USD 1.05 Billion By 2028

Image
  San Francisco, 21 Jan 2022:   The Report  U.K. Point Of Sale Software Market  Size, Share & Trends Analysis Report By Application (Fixed POS, Mobile POS), By Deployment, By Organization Size, By End-user, And Segment Forecasts, 2021 - 2028 The global U.K. point of sale software market size is expected to reach USD 1.05 billion by 2028, expanding at a CAGR of 8.1% from 2021 to 2028, according to the new study conducted by Grand View Research, Inc. The integration of a Point-Of-Sale (POS) solution with capabilities such as sales reports monitoring, cash flow recording, product demand analysis, tracking delivery status, and inventory management ensure systematic functioning and upscaling of a business. The adoption of POS software is directly impacted by the demand for POS terminals, which is witnessing growth in demand due to changing lifestyles and government policies. However, the COVID-19 pandemic disrupted the industry's business, wherein ...
Read more

Gas Detection Equipment Market Anticipated To Expand At A CAGR 9.7% From 2021 To 2028

  San Francisco, 5 May 2021:   The Report  Gas Detection Equipment Market  Size, Share & Trends Analysis Report By Product, By Technology (Infrared, Catalytic, PID), By End-use, By Region, And Segment Forecasts, 2021 - 2028 The global gas detection equipment market size is expected to reach USD 8.38 billion by 2028, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 9.7% from 2021 to 2028. The market growth can be attributed to the growing awareness among governments regarding the harmful effects of greenhouse gases, coupled with their increased efforts toward protecting the environment. Major industries such as petroleum, oil, and gas, among others are needed to comply with safety and environmental regulations which are also major factors driving the market growth. Many companies are focused on introducing drone-based gas detection equipment, which is expected to create new opportunities for market growth in...
Read more