Increasing need for improved infrastructure in public and private sectors, along with stringent regulatory norms should propel geosynthetics market.
Sellbyville, DE -- (SBWIRE) -- 06/13/2019 -- Asia Pacific geosynthetics market, driven by Japan, China, South Korea and India is expected to exceed USD 5.5 billion by 2024. Growing environmental concerns and consumer awareness for biodegradable material consumption should propel regional growth. Low labor wages and manufacturing costs may support industrial participants to set up various production facilities in China region.
Increasing need for improved infrastructure in public and private sectors, along with stringent regulatory norms should propel geosynthetics market. Increasing urbanization in India, Brazil and China along with supportive government policies towards infrastructure development such as road, dam, and canal, thereby stimulating industry growth.
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HDPE based geonets market is expected to grow at over 5% during the forecast timeframe. Positive application outlook in soil reinforcement due to tensile strength, porosity, and permeability should drive geosynthetics market. They are widely used in hazardous landfill system as a barrier and drainage.
Geomembranes market from water management applications may register gains at over 4%. It has wide usage in lining and directing flow in canals, retention ponds, ditches, catch basins and other water holding areas. PVC liners are used extensively in irrigation, navigation channels, lining water ponds, floating covers, wastewater treatment facilities, and potable water reservoirs, thereby escalating geosynthetics market demand.
Polyester based geocells market demand is poised to exceed USD 55 million over the forecast timeframe. It possesses long term design strength, high tenacity, and high oriented polyester filament which provides superior engineering properties. It is preferably designed for improved performance in earth reinforcement and load support applications, which may further boost geosynthetics market.
Global geosynthetics market share is concentrated with various players including:
- Royal TenCate
- Tensar International
High R&D spending by manufacturers accompanied with various environmental regulations may improve & expand product diversification, thereby stimulating industry growth.
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Geotextile market from pavement repair applications may witness over USD 700 million by the end of forecast period. It possesses tensile strength, permeability, porosity and abrasion resistance, thus preventing crack formation and restricting water percolation in pavements and roads. Rising demand for geotextiles as physical barrier between the weak and aggregate subgrade soil and reduction of repair and construction cost and time should propel geosynthetics market growth.
North America led by Canada and the U.S. geosynthetics market demand is expected to be over USD 4.5 billion by 2024. AASHTO has considered various standard specification for geotextiles and registered installation norms for application in separation, erosion control, pavement, and drainage.
Europe driven by France, UK, Italy, and Germany geosynthetics market should register significant gains at over 4% up to 2024. Increasing government initiatives for roads, airports, green building, and railways accompanied with rising environmental concerns towards solid waste and waste water treatment should drive regional industry growth.
The Geosynthetics Market report offers detailed competitive landscape of the global market. It includes companies, industry statistics, market share analysis and product portfolio of the major industry participants. The report provides detailed segmentation of the Geosynthetics market based on product, technology, end user and region.
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