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) -- 11/28/2016 -- The three leaders of the global geosynthetics market in 2014 - Officine Maccaferri S.p.A., GSE Environmental, Inc., and TenCate Geosynthetics – had a collective share of 27.7% in its highly fragmented competitive landscape. While the key players in the market do hold prominent production capacities in core regions of the world, the market is still largely taken up by the smaller, regional players.
According to a research report by Transparency Market Research, the global geosynthetics market is expected to reach US$20.8 bn by the end of 2023. It is pegged to hit US$11.3 bn by the end of 2016 and is expanding from thereon at a CAGR of 9.1% given from 2015 to 2023. Geotextiles are and will continue to be the leading product segment in the global geosynthetics market. By 2023, geotextiles are expected to accrue 39.7% of the market volume.
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Asia Pacific Boosts Demand for Geosynthetics
Asia Pacific has already been the leading region in terms of consumption in the global geosynthetics market for 2015. This region is likely to maintain its high consumption rate till 2023. It is also likely to take up a larger share of the global geosynthetics market, cutting down the percentage shares that North America and Europe will hold.
Meanwhile, the key function for geosynthetics over the coming few years is expected to be containment. This function has already been the leading segment in the global geosynthetics market so far and is expected to garner 42.1% of the market in terms of volume.
Geosynthetics Could Answer Need for Greener Infrastructure
One of the key drivers in favor of the global geosynthetics market currently is the global need for green infrastructure. Nations are looking to evolve existing industries while also paying more attention to reducing their carbon footprint. The global geosynthetics market is capable of providing the one-size-fits-all solution that many countries are looking for. Geosynthetics are heavily preferred due to the excellent physical properties they bring to the table. They are effective in providing containment and reinforcement to structures and are additionally flexible in nature. This makes them a valuable asset in construction projects such as road widening, road base reinforcements, noise reduction barriers, soft soil stabilization, reinforced banking, and reinforcing wall and slope.
Geosynthetics are highly useful in the prevention of soil erosion, a key cause of concern for several countries. It is the causation factor for eutrophication, increases the chances of floods in the region, destroys biodiversity of a region, and creates sedimentation issues for further soil formation. The global geosynthetics market can therefore be the solution for a great number of problems affecting the topography of the world.
Geosynthetics Raw Material Costs Dicey Enough to Deter Smaller Players
"Naphtha, the key ingredient required to manufacture the raw materials for geosynthetics – polyester, polyethylene, and polypropylene – is not entirely in ample supply. Naphtha is a derivative of crude oil products and crude oil prices are currently extremely volatile in nature. Additionally, the prioritization of crude for fuel and other by-products is higher than the production of naphtha and consequently, geosynthetics," states a TMR analyst. Crude pricing also varies from region to region, creating a greater disparity in availability.
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The analyst adds, "There are, however, several areas where the manufacturers of geosynthetics can expand their business in. for example, one of the key opportunities for the global geosynthetics market is the growing use of geosynthetics in green constructions. The growing demand or green walls and green roofs is definitely something that players can look into."
The information presented in this review is based on a Transparency Market Research report, titled, "Geosynthetics Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023."
Key segments of the Global Geosynthetics Market
Geosynthetics Market – Product Segment Analysis
-Others (Geosynthetic Clay Liners, etc.)
Geosynthetics Market - Function Analysis
-Filtration and Drainage
-Others (Separation, etc.)
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