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. On the other hand, volatility in petrochemical prices restrains the growth to some extent. However, surge in demand for sustainable products in developing economies is expected to create lucrative opportunities in the industry.
A complete and wide-ranging evaluation of the aspects that drive and restrain the market growth is also provided throughout the study. This detailed exploration of the market size and its proper segmentation help the market players define the prevalent opportunities that are looming large.
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The report helps clients in comprehending the first-hand knowledge of the global market while providing a full-fledged understanding of the regional-level analysis of each segment. At the same time, the study contain in-depth information of the frontrunners that are active in the industry along with their financial agenda, segmental profits, company trends, services/products offerings, and major adopted stratagems.
Based on application, the water/wastewater management segment contributed to around two-fifths of the global geosynthetics market revenue in 2020, and is projected to dominate by 2030. This is attributed to the fact that the demand for wastewater is more likely to increase in the future owing to increasing population and industrialization. The energy segment, however, would grow at the fastest CAGR of 13.0% from 2021 to 2030. As renewable energy sites expand across the globe, the demand for geosynthetics is also expected to increase to a significant extent. This factor propels the segment growth.
The Geosynthetics market report keeps a perfect tab on the market share of several companies, recent market trends, revenue forecast, and new product launches across the market. The report includes company profiles that delineate the revenue share of the top competitors in the market. Simultaneously, the report provides revenue forecasts for four regions and more than twenty major countries across Asia-Pacific, LAMEA. North America and Europe.
Based on geography, 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.
Geosynthetics Companies Covered Market:- Freudenberg Group, HUESKER Group, Maccaferri S.p.A., NAUE GmbH & Co. KG, PRS Geo-Technologies, Tensar International Corporation, AGRU and Other.
Analysis of COVID-19 impact
The outbreak of the pandemic has had a massive impact on the majority of industries and the Geosynthetics market was also not an exception in this regard. The report provides a detailed study on the micro- and macro-economic impact during the pandemic. Additionally, it emphasizes the direct impact of the COVID-19 pandemic on the Geosynthetics market in the form of qualitative study. The report offers explicit details regarding the market extent and shares during this unprecedented time. At the same time, the major strategies adopted by the market players to combat the global crisis is also covered under the report. Last but not the least, the report highlights how the pandemic has distorted the supply chain of the market and takes in a post-COVID-19 analysis too.
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