A new report added to the repository of Market Research Reports Search Engine “Geosynthetics Market: Geotextiles Product Type Segment to Lead in Terms of Market Share Throughout the Forecast Period: Global Industry Analysis 2012 - 2016 And Opportunity Assessment 2017 - 2027” is a comprehensive repository of information, providing market share, size, and forecast.
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Innovation essential to avoid falling behind in the global geosynthetics market
Key stakeholders have observed the high demand in the geosynthetics market and are focusing on their product portfolio by introducing new products with gauge variations and higher quality. Manufacturers are targeting high development areas and creating application specific products to consolidate their position in the geosynthetics market. For e.g. – In Dec 2016, Titan Environmental Containment unveiled its next-gen TE-FGP fiberglass and TE-FGC fiberglass composite geogrid systems designed for asphalt reinforcement. The TE-FGC variant is made of a non-woven geotextile layer that provides greater waterproofing, while the TE-FGP series has a self-adhesive layer that enables stronger surface bonding, eliminating the need of tack coats. In addition, an increase in governmental spending for better road infrastructure should boost the demand in the global geosynthetics market.
Flexibility of geotextiles key to their success in the global geosynthetics market
Geotextiles are anticipated to record substantial growth over the course of the forecast period because of their various applications, particularly in the construction industry. Furthermore, several local players have begun to offer application specific grade and size of geotextiles that could fuel the growth of the global geosynthetics market. Geotextiles had a market share of more than a third in the geosynthetics market in 2017 and this is predicted to rise to almost 40% by end 2027. Geotextiles are on track to gain a massive 390 BPS by then, at the expense of all other product types barring geogrid. The relatively lower cost of geotextiles compared to other products available in the geosynthetics market definitely works in their favour.
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Geomembranes and Geogrid other product types to look out for
The geomembrane segment has a volume share of 21% of the global geosynthetics market and is estimated to push past a value of US$ 6 billion by end 2027. Companies would also be advised to target the geogrid segment as they are used for both asphalt reinforcement and soil stabilization. Large construction activities in emerging economies such as Mexico and Brazil is poised to increase demand for geosynthetic products during the course of the forecast period. The Latin America geomembrane segment is expected to be worth US$ 125 million in 2017 alone. Geomembranes are extensively used in water containment units, waterproofing, waste management facilities, landfills, mining and many other cases. With environmental concerns dominating headlines in emerging as well as developed economies, the public and private sectors have stepped up to the challenge. Geogrids are greatly helped by their properties such as being lightweight, easy to handle, and being stable at high temperatures. Geogrids are estimated to witness an exponential CAGR of 10.6% from 2017 to 2027, making it unwise to entirely overlook this segment in the geosynthetics market.
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