Northrook, IL -- (SBWIRE) -- 12/23/2019 -- The Geomembranes Market is expected to grow from USD 2.2 billion in 2016 to USD 3.4 billion by 2021, at a compound annual growth rate (CAGR) of 9.2% during the forecast period. The increasing environmental awareness and demand for freshwater resources are triggering the use of geomembranes in the water management application, thereby driving the market.

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HDPE is the largest raw material type for geomembranes.

Based on the raw material type, the geomembranes market has been segmented into HDPE, LDPE & LLDPE, PVC, EPDM, PP, and others. The HDPE segment accounts for the largest share of the market. Geomembranes manufactured using HDPE are used in different applications such as aquaculture, landscaping, mining, and water treatment as they exhibit chemical and weather resistance, inherent flexibility, and high durability.

Mining is projected to register the highest CAGR in the geomembranes market, based on the application.

The extensive use of geomembranes in waste management, mining, water management, and tunnel lining applications is driving the market. The application segment that is estimated to register the fastest growth during the forecast period is mining. From evaporation ponds, tailings dams, solution ponds, and treatment lagoons to heap leach pads, mine closure & capping, and brine ponds, geomembranes are used in a wide range of mining applications due to their resistance to chemicals, UV, high tear, and puncture; and low permeability. Gold and copper mining applications are expected to drive the market in the mining segment during the forecast period.

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North America was the leading market for geomembranes in 2015.

In 2015, North America was the leading geomembranes market. Geomembranes are used extensively in the waste management application in the region. Increased environmental awareness and initiatives related to environmental protection and the use of geomembranes for waste management have helped in the growth of the market. The US is the dominant market in North America.

The key players operating in the geomembranes market include GSE Environmental, LLC (US), Agru America, Inc. (US), Solmax International, Inc. (Canada), Atarfil SL (Spain), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A (Italy), Colorado Lining International, Inc. (US), Firestone Building Products Company, LLC (US), Plastika Kritis S.A. (Greece), and Carlisle SynTec Systems (US).

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