Transparency Market Research has published a new research report titled “Geosynthetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023” to their report store.
Albany, NY -- (SBWIRE) -- 08/15/2016 -- Growing environmental concerns regarding soil erosion are leading to an increased deployment of geosynthetics for road projects and stabilizing the terrain. Since geosynthetics provide separation, drainage and containment, filtration, and reinforcement, they are extensively used in construction industries and also for sediment control.
Companies are aligning their product range to meet the changing requirements of consumers. A case in point would be TenCate. The company has patented their GEOPORT filling system for TenCate Geotube® containers. This technology, which makes use of geotextiles engineered for containment and dewatering moisture content in sludge and sediments, has become the preferred dewatering method for organizations across the globe. As such, the demand for geosynthetics is expected to rise significantly owing to their benefits.
According to a report published by Transparency Market Research (TMR), the global geosynthetics market was valued at US$9.57 bn in 2014 and is expected to reach US$20.8 bn by 2023 expanding at a CAGR of 9.1% from 2015 to 2023.
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TMR analysts answer the key questions that companies operating in the geosynthetics market need to ask:
Q. Which region is expected to witness the fastest growth in the geosynthetics market?
The geosynthetics market in the Middle East and Africa is expected to expand at the fastest rate owing to the rise in the use of geosynthetics for construction activities. The demand for geosynthetics in Asia Pacific is also high and is driven by an upsurge in the infrastructural activities in China and India. The market in North America is expected to witness a moderate growth.
Q. What are the factors restraining the growth of the geosynthetics market?
The fluctuation in the prices of different raw materials required for the manufacturing of geosynthetics is one of the biggest challenges faced by the manufacturers in the market. Another factor threatening the demand for geosynthetics is the availability of low-cost substitutes. Jute fiber and rocks are the substitutes that are gaining popularity and most likely to challenge the demand for geosynthetics.
Q. How are government and environmental regulations aiding the growth of the geosynthetics market?
The new federal regulations on the disposal of coal combustion residuals require surface impoundment operators to come up with dust control measures for each site. The leaking of potential contaminants from surface impoundments into groundwater is creating a new demand for geosynthetic membrane. Geosynthetic membrane covers help protect groundwater and also bring about a reduction in dust.
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The U.S Environmental Protection Agency's (EPA) thrust on the reduction of greenhouse gas emissions will cause solid waste landfills to install systems that collect and control landfill gas. While traditional systems make use of vertical gas wells to contain landfill gas, a new product by Agru America, Inc., employs a surficial gas collection system to capture the emissions. The product known as ClosureTurf® is EPA compliant, comprising a structured geomembrane to form a cost-effective landfill closure solution.
Thus, environmental regulations are expected to create new growth opportunities in the global geosynthetics market.
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