Geomembranes Market Scope
The global Geomembranes market is estimated to attain a valuation of US$ 3.7 Bn by the end of 2027, states a study by MNM. Besides, the report notes that the market is prognosticated to expand at a CAGR of 7.6% during the forecast period, 2022-2027.
The key objective of the MNM report is to offer a complete assessment of the global market including major leading stakeholders of the Geomembranes industry. The current and historical status of the market together with forecasted market size and trends are demonstrated in the assessment in simple manner. In addition, the report delivers data on the volume, share, revenue, production, and sales in the market.
The report by MNM is the end-product of a study performed using different methodologies including the PESTEL, PORTER, and SWOT analysis. The study with the help of these models shed light on the key financial considerations that players in the Geomembranes market need to focus on identifying competition and formulate their marketing strategies for both consumer and industrial markets. The report leverages a wide spectrum of research methods including surveys, interviews, and social media listening to analyze consumer behaviors in its entirety.
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Browse in-depth TOC on "Geomembranes Market"
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Geomembranes Market Drivers and Restraints
Geomembranes are synthetic materials used in environmental containment and infrastructure applications. The market drivers for geomembranes include:
- Increasing demand for waste management and water containment solutions.
- Rapid industrialization and urbanization.
- Growing demand for sustainable and eco-friendly products.
- Rising use of geomembranes in agriculture and aquaculture.
- Technological advancements and the availability of high-performance geomembranes.
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The restraints for the geomembranes market include:
- High installation and maintenance costs.
- Lack of awareness and understanding of the benefits of geomembranes in some regions.
- Stringent regulations and environmental laws.
- Limited availability of raw materials.
- Competition from alternative materials such as concrete and clay.
Geomembranes Market Trends and Value Chain
The study on the Geomembranes market presents a granular assessment of the macroeconomic and microeconomic factors that have shaped the industry dynamics. An in-depth focus on industry value chain help companies find out effective and pertinent trends that define customer value creation in the market. The analysis presents a data-driven and industry-validated frameworks for understanding the role of government regulations and financial and monetary policies. The analysts offer a deep-dive into the how these factors will shape the value delivery network for companies and firms operating in the market.
Geomembranes Market Key Players
Major vendors in the geomembranes market include -
- Solmax (Canada)
- Raven Industries (US)
- AGRU (Austria)
- Carlisle Construction Materials LLC (US)
- Atarfil (Spain)
- PLASTIKA KRITIS (Greece)
- JUTA (Czech Republic)
- Maccaferri (Italy)
- Firestone Building Products (US)
- The NAUE group (Germany)
- Anhui Huifeng New Synthetic Materials (China)
By type HDPE is expected to hold the largest market size in the global geomembranes market during the forecast period
HDPE, LDPE LLDPE, PVC, EPDM, and PP are some of the major types of geomembranes available in the market. HDPE is projected to be largest and fastest-growing segment in terms of value during the forecast period . These membranes are cost-effective and are used widely in all regions. HDPE membrane possess excellent chemical UV resistance and are availabe at an affordable cost. Their robust performance in critical applications will drive the growth during forecast period.
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By application waste management is expected to grow at the highest CAGR in the global geomembranes market during the forecast period
Mining, waste management, water management, and civil construction are the some of the major applications in the geomembranes market. Waste management is estimated to be the fastest-growing application during the forecast period. Geomembranes are essential for controlling the leakage of contaminated gas and liquid into the surrounding environment. These membranes are widely used in landfill caps, landfill covers, landfill liners, temporary landfill closures, animal waste containment, and sludge treatment application due to their ability to accommodate differential settlement in the waste pile.
APAC is expected to have the largest market share during forecast period
By region, the geomembranes market has been segmented into APAC, Europe, North America, the Middle East Africa, and South America. APAC geomembranes market was largest market in 2021. The growth in this region is primarily attributed to enormous potential in mining, wastewater management, and infrastructural activities in the US, Canada, and Mexico.
Recent Developments
- In February 2018, Atarfil acquired Garden City Geotech (Australia), the largest manufacturer of HDPE geomembranes in Australia. This acquisition enabled the company to strengthen their its expertise and presence in the Australian market.
- In December 2017, Solmax acquired the US-based GSE Environmental, a top player in the geosynthetic industry. This acquisition gave Solmax a broader manufacturing footprint and an expanded world-wide commercial network. This has also helped the company to work more closely and cohesively with customers, including local service companies and specialized installers, who require customized attention.
- In September 2017, Raven Industries acquired Colorado Lining International, a full service geosynthetics contractor for around USD 14 million. This acquisition added new design-build and installation service components, which enhanced Raven’s geomembrane business through extended service and product offerings.
