Global geosynthetics market is expected to grow at a CAGR of 10.1% during forecast period of 2017- 2027.
Albany, NY -- (SBWIRE) -- 12/12/2017 -- The South Asia geosynthetic market is likely to witness steady growth during the assessment period 2017-2027 on account of increasing demand from the construction sector. Geosynthetics are widely used in infrastructure development projects including subgrade separation and base reinforcement. As many countries in South Asia are making the push for giving a boost to their economies, the demand for geosynthetics is likely to witness an increase during the assessment period. These insights are according to a new research report added to the comprehensive repository of Market Research Hub (MRH). The report titled "Geosynthetics Market: Road Segment by Application Anticipated to Register a Higher CAGR as Compared to Other Segments: South Asia Industry Analysis and Opportunity Assessment 2017 – 2027" offers in-depth analysis and insights on the key trends that are influencing market dynamics in the region.
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According to the report, demand for geosynthetics is likely to increase at a CAGR of over 12% in terms of volume. India continues to be one of the most important markets for geosynthetics globally, followed by the ASEAN. There has been a spurt in infrastructure investment activities in India and ASEAN, which has led to high demand for raw materials including geosynthetics. As the government and private sector continues to focus on construction activities in these markets, the demand for geosynthetics is also likely to witness an increase.
Among the various product types of geosynthetics, demand for geotextiles is quite formidable on account of its wide-ranging end-use applications. This segment is likely to grow at a CAGR of nearly 14% in terms of volume. Among the different types of available material, polypropylene remains one of the most lucrative, growing at a steady CAGR and accounting for nearly 55% revenue share of the market.
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In addition to the demand from the construction sector, use of geosynthetics in the mining sector is also witnessing an increase. There has been a rapid increase in the mining activities in South Asia region, as a number of countries are focusing on giving a boost to the economy. As foreign direct investment has steadily increased due to loosening of trade laws, the mining sector has witnessed an impetus. Further growth in the mining sector is likely to provide growth opportunities to geosynthetics manufacturers during the forecast period. Some of the leading players operating in the market include NAUE GmbH & Co. KG, Enviro Geosynthetics Pvt. Ltd., Polyfabrics Australasia Pty Ltd, Global Synthetics Pty Ltd, Geofabrics Australasia Pty Ltd, Tensar International Corporation, HUESKER Synthetic GmbH, GSE Environmental, Inc., E.I. du Pont de Nemours & Co., and Koninklijke Ten Cate NV.
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