Rise in demand for geosynthetics in the transportation and energy sector and cost-effectiveness of the product drive the growth of the global geosynthetics market.
Allied Market Research published a report, titled, “Geosynthetics Market by Type (Geotextiles, Geomembranes, Geogrids, Geocomposites, Geonets, and Others), and End-use Industry (Water/Wastewater Management, Transportation Infrastructure, Civil Construction and Mining, Energy, and Others.): Global Opportunity Analysis and Industry Forecast, 2021-2030.” According to the report, the global geosynthetics industry was estimated at $13.2 billion in 2020, and is anticipated to hit $37.9 billion by 2030, registering a CAGR of 11.2% from 2021 to 2030.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The geosynthetics market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the geosynthetics market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the geosynthetics market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The geomembranes segment accounted for around two-fifths of the global geosynthetics market share in 2020, and is expected to lead the trail by the end of 2030, due to its extensive use in various end use applications. The geogrids segment, on the other hand, would cite the fastest CAGR of 12.1% from 2021 to 2030.
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Some ruling enterprises in the global geosynthetics market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global geosynthetics industry include Freudenberg Group, HUESKER Group, Maccaferri S.p.A., NAUE GmbH & Co. KG, PRS Geo-Technologies, Tensar International Corporation.
Asia-Pacific, followed by North America, garnered the highest share in 2020, holding more than one-third of the global geosynthetics market. The same region would also showcase the fastest CAGR of 13.3% during the forecast period. This is because factors such as rising construction and infrastructural developments in China and India have increased the demand for geosynthetics in the province.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the geosynthetics market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the geosynthetics market
- Post-sales support and free customization
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