The global geosynthetics market was valued at approximately USD 15.54 billion in 2023 and is expected to experience significant growth, with a projected compound annual growth rate (CAGR) of 6.9% from 2024 to 2030. This growth is largely driven by rapid infrastructure development in emerging economies like India and Brazil. The use of geosynthetics contributes to sustainable development, requires less earthwork, results in a lower carbon footprint, and enhances the speed of construction. In particular, the expansion of the construction industry in the Asia Pacific region is anticipated to be a major driver of market growth over the next seven years.
The global construction industry faced significant challenges in 2020 due to the COVID-19 pandemic, which led to the suspension of numerous projects as governments implemented lockdown measures to curb the virus's spread. Market participants reported a decline in demand for new office spaces and other infrastructure projects, primarily due to disruptions in the supply chain.
The availability of raw materials, particularly polypropylene, is bolstered by the extensive network of petrochemical complexes operated by companies such as Chevron Phillips, ExxonMobil, Shell, and BP. This availability is expected to encourage market players to increase production levels. Additionally, the U.S. Environmental Protection Agency (EPA) has sanctioned the use of geosynthetic products in landfills under the Resource Conservation and Recovery Act (RCRA), which is likely to further boost the market for these products in the United States.
Geotextiles play a crucial role in various construction applications, serving as lining systems in the creation of ponds, roadways, embankments, and pipelines. These materials are also utilized in the development of railway networks, as they effectively separate soil layers from subsoil without impeding the natural circulation of underground water.
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Product Segmentation Insights
In 2023, geotextiles led the geosynthetics market, capturing a revenue share of over 48.4%. This segment's dominance is attributed to the superior performance and functional advantages of geotextiles compared to other materials. The synthetic fibers utilized in the production of geotextiles primarily consist of polypropylene, polyethylene, polyester, and polyamide. Additionally, natural geotextiles are gaining traction for short-term applications or as temporary reinforcements, driven by increasing awareness of their eco-friendly benefits, which further supports overall market growth.
Geomembranes are projected to grow at a compound annual growth rate (CAGR) of 5.2% in terms of revenue from 2024 to 2030. This growth is fueled by a rising awareness of the product's applications, particularly as floating covers for reservoirs. These applications help control evaporation, reduce emissions of Volatile Organic Compounds (VOCs), and decrease the need for drainage and cleaning. Polyvinyl chloride (PVC)-based geomembranes are seeing heightened demand due to their advantageous properties, including a high degree of flexibility, excellent elongation percentage, and a low expansion coefficient.
Geogrids are increasingly being utilized in the development of railway and road infrastructure, primarily for reinforcing structural bases over soft soils due to their exceptional bearing capacity. They are also employed in retaining walls to reinforce railway abutments and bridges. These applications are anticipated to drive significant market growth throughout the forecast period.
Geonets are commonly used as separation media in various applications, including the collection of landfill leachates, foundation wall systems in drainage, and road and pavement drainage systems, as well as in methane gas collection. Furthermore, their growing use in erosion control—attributed to their ability to slow down surface runoff—is expected to contribute positively to the growth of this segment.
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