Global Geosynthetics Market: Snapshot
The current boom in infrastructure is a key driver for the global geosynthetics market. Railway stations, dams, airports, roads, and bridges are the more common infrastructure end-user areas of geosynthetics. They can make full use of the excellent physical properties that geotextiles, geogrids, and geocomposites have to offer in terms of reinforcement for new construction projects. The scope of utilization for geosynthetics is immense in the modern construction industry, which is showing a high growth rate in key parts of emerging economies.
Another extremely favorable use for geosynthetics that has grown in popularity over the past years is to promote environmental protection strategies. A wide array of geosynthetics can be used as barriers and reinforcements for natural landscapes to prevent the growing rate of soil erosion in the world. This is expected to become a massive driver for the use of geosynthetics over the years to come.
There are, however, quite a few problems that manufacturers of geosynthetics are facing. The leading factor deterring many players is the volatility of raw material costs. Polyethylene, polypropylene, and polyester, the three main raw materials used to manufacture geosynthetics, are all derivatives of crude oil products. Crude oil is a highly demanded product in the world today, and coupled with its depleting natural reserves, the prices of crude oil are subject to high volatility.
The overall revenue growth of geosynthetics can be summarized in a 9.1% projected CAGR from 2015 to 2023. By the end of 2016, this revenue is expected to reach US$11.30 bn and US$20.80 bn by 2023.
APAC Booming Construction Industry Attracts Global Geosynthetics Makers
Asia Pacific, with its burgeoning set of economies and equipped with a robust growth rate in the construction industry, is set to be the leading consumer of geosynthetics till 2023. By the end of 2023, 40.2% of the total volume of geosynthetics in the world is expected to be taken up by Asia Pacific. Over half of the annual demand for geosynthetics in Asia Pacific comes from China, a rapidly developing economy in the region and already a highly attractive country for geosynthetics manufacturers to enter.
Other regions with a high growth rate in the demand for geosynthetics include ASEAN and the GCC. These are regions that have been showing a consistently high growth in construction activity and infrastructure development. Similar growth in geosynthetics demand is expected to be witnessed in Japan, Brazil, and most of the MEA, while geosynthetics sakes in North America are Europe are showing a moderate amount of attractiveness for manufacturers.
Geotextiles and Geomembranes to Become Top Geosynthetics Functions
By 2023, 43.1% of the globally produced volume of geosynthetics is expected to be taken up in the geotextiles. Formed by weaving polymer fibers together, geotextiles are porous and very flexible. As a result, the construction industry finds them extremely useful in various areas.
Geomembranes are another function of geosynthetics that are finding their way to all corners of the world and getting a high demand. Geomembranes are usually provided in sheets that are thin and highly resistant to chemicals. They are primarily used to channelize of store fluids. Geomembranes are also finding massive scope of use n landfill protection and other environmental functions.
The key providers of geosynthetics in the world include TenCate Geosynthetics, GSE Environmental, Inc., Officine Maccaferri S.p.A., NAUE Gmbh & Co. KG, and Low & Bonar PLC.
This report analyzes and forecasts the market for geosynthetics at the global and regional level. The market has been forecast based on volume (Mn Square Meters) and revenue (US$ Mn) from 2015 to 2023. The study includes drivers and restraints of the global geosynthetics market. It also covers the impact of these drivers and restraints on demand for geosynthetics during the forecast period. The report also highlights the opportunities in the geosynthetics market at the global and regional level.
The report includes a detailed value chain analysis, which provides a comprehensive view of the global geosynthetics market. Porter’s Five Forces Model for the geosynthetics market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein products are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global geosynthetics market by segmenting it in terms of products and functions. These segments have been analyzed based on present and future trends. Regional segmentation includes current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual products and end-user segments in all regions.
The study includes profiles of major companies operating in the global geosynthetics market. Key players profiled in the report include Low & Bonar PLC, AVINTIV Inc., Officine Maccaferri S.p.A., NAUE GmbH & Co. KG, Agru America, Inc., Propex Operating Company, LLC, TenCate Geosynthetics, GSE Environmental, Inc., Tenax Corporation, Tensar International Corporation. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies, and recent developments.
The report provides the estimated market size of geosynthetics for 2015 and forecast for the next eight years. The global market size of geosynthetics is provided in terms of both volume and revenue. Market volume is defined in Mn Square Meters, while market revenue is in US$ Mn. Market numbers are estimated based on key product segments and end-user segments of geosynthetics. Market size and forecast for each major product and end-user is provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research includes a search of recent trade, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoover’s, oneSOURCE, Factiva, and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases, and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, category, segment, and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the global geosynthetics market as follows:
Geosynthetics Market – Product Segment Analysis
- Drainage Composites
- Others (Geosynthetic Clay Liners, etc.)
Geosynthetics Market - Function Analysis
- Filtration and Drainage
- Others (Separation, etc.)
Geosynthetics Market - Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA