As Per Report, Based on technology, the extrusion segment accounted for the largest share in 2020, contributing to nearly half of the global geomembrane market, and is projected to maintain its lead position during the forecast period. This is due to increased activities connected to water consumption, civil development, and groundwater protection across the world. However, the calendaring segment is expected to portray the largest CAGR of 5.3% from 2021 to 2030, owing to high shear of the process and assures uniformity of the melt.
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Allied Market Research published a report, titled, “Geomembrane Market by Raw Material (High Density Polyethylene (HDPE), Low Density Polyethylene (LDPE), Ethylene Propylene Diene Monomer (EPDM), Polyvinyl Chloride (PVC), Polypropylene (PP), and Others), by Technology (Extrusion, Calendering, and Others), and by Application (Water Management, Waste Management, Mining, Tunnel Liners & Civil Engineering, and Others), Global Opportunity Analysis and Industry Forecast, 2021-2030”. According to the report, the global geomembrane industry generated $2.2 billion in 2020, and is anticipated to generate $3.7 billion by 2030, witnessing a CAGR of 5.1% from 2021 to 2030.
Favorable regulations regarding implementation of water & waste water management, and rapid growth in infrastructure & mining industry drive the growth of the global geomembrane market. However, volatility in raw material prices hinders the market growth. On the other hand, growth in environmental awareness presents new opportunities in the coming years.
Based on region, Asia-Pacific, followed by North America, held the highest market share in terms of revenue 2020, accounting for nearly two-fifths of the global geomembrane market. Moreover, the same region is expected to witness the fastest CAGR of 5.5% during the forecast period, due to the region’s rapidly growing population, urbanization, and industrialization.
Based on application, the mining segment held the highest market share in 2020, accounting for nearly one-third of the global geomembrane market, and is estimated to maintain its leadership status throughout the forecast period. This is attributed to increase in its application in the mining industry including metallic and non-metallic mining. Moreover, the water management segment is projected to manifest the highest CAGR of 5.5% from 2021 to 2030. Use of geomembrane for water preservation is expected to grow in the future, which in turn, is boosting the growth of the segment.
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Covid-19 Scenario
The outbreak of the COVID-19 pandemic has had a negative impact on the growth of the global geomembrane market.
The pandemic caused temporary closure of production facilities, disruptions in the supply chain, unavailability of raw materials, and low labor force, owing to the implementation of lockdown.
However, the market is going to recover soon in 2022.
The mining segment to maintain its leadership status throughout the forecast period
The geomembrane market analysis covers in-depth information of the major industry participants. Some of the major players in the geomembrane market include Agru America Inc., Atarfil, Carlisle SynTec systems, Carthage mills Inc., Naue GmbH & co, Solmax, Raven industries Inc, Juta, Plastika kritis, and Officine Maccaferri SPA.
Other players in the value chain of the geomembrane market include Dow chemical company, Huesker synthetic GmbH, Low and Boner PLC, Propex operating company LLC, Royal ten cate Inc, Strata systems Inc, Tenax, Tensar corporation, Ace geosynthetics, and Asahi kasei corporation.
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