Geosynthetics market in the USA shows steady growth, with a projected 10.3% CAGR till 2033, driven by disaster recovery, erosion prevention, and infrastructure development, including roads, dams, waterways, and landfills.
NEWARK, Del, Nov. 01, 2023 (GLOBE NEWSWIRE) -- The geosynthetic market is expected to reach US$ 15,177.60 million in 2023. The market is predicted to reach a value of US$ 16,710.54 million in 2033. Between 2023 and 2033, the market is expected to register a growth rate of 10.1%. Geosynthetics can create highly efficient barriers, reducing space requirements, and enhancing road access. As geosynthetics are increasingly used in mining operations, the market is expected to grow. Geotextile Layer
A new avenue in civil engineering to drive the market is geosynthetics, which is thought to offer innovative solutions for geotechnical, hydraulic, environmental, and transportation problems. As a result, infrastructure works can be built with more efficiency and sustainability, and with greater resilience and sustainability. Woven geosynthetics are becoming more popular due to their ability to distribute loads and strengthen soil.
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Climate change poses increasing challenges for infrastructure, so geosynthetics will be used to build a resilient system to resist hurricanes, floods, and sea level rise. Materials such as these can help protect coastal areas, control erosion, and manage stormwater. With mass infrastructure projects that require resilient soil reinforcement and separation applications, these materials are a logical choice as they are highly tensile and dimensionally stable.
Real-time monitoring of infrastructure performance could be achieved by integrating sensors and technology into geosynthetics. Predictive maintenance can be conducted using this data, resulting in early detection of problems and extending the lifespan of a project. As technology advances and awareness programs become more popular, the market is expected to grow.
For instance, the Advanced Textile Association (ATA) held A Geosynthetics Conference in February 2023. Co-hosted with the International Erosion Control Association (IECA) Annual Conference and Expo, Kansas City, Mo., the conference brought together geotechnical, erosion control and stormwater experts. More than 1,800 attendees attended both conferences, and 186 exhibits took place, for a combined exhibition area of double that of the two associations.
According to FMI, through 2033, geotextiles will account for 37.2% of market revenue.
The polypropylene segment is expected to hold a market share of 50.2% during the forecast period.
By 2033, the United Kingdom is expected to experience an 8.2% CAGR until 2033.
Geosynthetic market demand in the United States is expected to increase by 10.3% CAGR throughout 2033.
A 13.2% CAGR is expected to be achieved by 2033 for the geosynthetics market in India.
“Innovations in manufacturing techniques and the adoption of eco-friendly materials will drive demand for geosynthetics. A combination of regulations and standards and increasing demand for smart geosynthetics will drive market growth in the next few years," says Nikhil Kaitwade, Associate Vice President at Future Market Insights, Inc.
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As geotextile materials become increasingly popular and eco-friendly materials become available, several market players are establishing production facilities in emerging economies. With increasing investments, partnerships, and mergers, demand for geosynthetics is growing.
In June 2023, Infra.Market entered into definitive documents, through its parent company Hella Infra Market Private Limited, in order to acquire a majority stake in Strata Geosystems (India) Pvt Ltd (“Strata”) with a market value of INR 9,100 Million from Glen Raven Technical Fabrics LLC (“Glen Raven”). Strata India also acquired Glen Raven's geosynthetics business in the United States as part of the transaction.
In October 2022, Armando Alvarez Group and RedSea, a world leader in sustainable agriculture technology, entered into an exclusive agreement to supply hot-climate-compatible greenhouse covers. The new greenhouse cover is ideal for farming in hot and water-scarce regions. Results from the tests show exponential increases in harvest, reduced irrigation and fertigation costs and lower energy consumption.
Future Market Insights offers an unbiased analysis of the global market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the geosynthetic market, the market is segmented on the basis of Product Type (Geotextile, Geomembrane, Geogrid, Geonet, Geocomposite, Geosynthetic clay liner, Others), Material Type (Polyethylene (HDPE/LLDPE), Polypropylene (PP), Polyester, Natural Fibers, Others), Primary Application (Separation, Drainage & Filtration, Reinforcement, Containment), End Use (Roads (paved & unpaved), Railways, Retaining walls, Waterworks and waste treatments, Landfill & erosion control, Others) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
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Segmentation Analysis of the Geosynthetics Market
About the Chemicals & Materials Division at Future Market Insights
The chemical & materials team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective of providing authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 million+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in the Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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