Infrastructural developments boost geosynthetics market
India and China to lead to an increase in demand
A new market research study by Future Market Insights (FMI) on the global Geosynthetics market contains global industry analysis for 2014–2018 and opportunity assessment for 2019–2029. The report investigates the Geosynthetics market and provides critical insights for the forecast period of 2019-2029. The global Geosynthetics market recorded the revenues worth ~US$ 9.4 Bn in 2018 and is estimated to grow at a CAGR of ~ 10% in the projected period of 2019-2029.
As per the findings of the report, the global industrial Geosynthetics market is anticipated to experience substantial growth over the forecast period owing to growth in civil construction activities led by several developing economies in the past few years. The report opines that the market growth is significantly driven by increasing investments in public infrastructure development and modernisation of existing facilities across the globe.
India and China to play a role
Geosynthetics materials are witnessing increased usage in solid waste management for landfill applications. These materials are used for separating and confining bulk waste. Countries such as China and India, are emphasising on effective waste treatment practices, which is likely to lead to an increase in demand for Geosynthetics in the near future.
Moreover, owing to the high transport infrastructural development activities in the region, Geosynthetics products are estimated to witness significant deployment in road construction. The road construction application segment is estimated to remain dominant in terms of Geosynthetics material demand.
Product portfolio enhancements & technological innovations
Several players are emphasising on improving their product portfolios by introducing new products with better quality and gauge variations. Manufacturers are primarily targeting high development areas and producing application-specific products in order to gain higher market shares.
Use of different materials to enhance strength and durability
Involvement of a large number of local and global players in the Geosynthetics market has compelled manufacturers to offer innovative products, in order to generate significant demand. Many companies are dedicating a huge amount of money for the research and development of new products and to increase the properties of existing ones. Companies are continuously experimenting with Geosynthetics in order to provide products with enhanced mechanical properties and high reliability.
As polypropylene is extensively used for the manufacturing of geotextiles, it is a relatively large segment among all types, and is expected to witness significant growth during the forecast period. Other Geosynthetics products such as geocell, geofoam, geopipes, etc., have limited and specific uses. However, the segment has witnessed significant demand during the last five years.
Use of metallocene polypropylenes: In 2015, a reputed conglomerate launched a metallocene PP-based non-woven geotextile. This geotextile is premium in terms of mechanical properties and performance. The use of metallocene PP offers relatively lightweight geotextiles and increased production.