(MENAFN- PR Newswire)
According to Exactitude Consultancy the Global Geomembrane Market value is expected to reach USD 3.9 Billion by 2028, growing at a 7.82% CAGR of Between Forecast Period 2023 and 2028.
PUNE, India, March 17, 2023 /PRNewswire/ --
The Global geomembrane market size is expected to reach USD 3.9 Billion in 2028. Over the forecast period revenue is expected to increase with a CAGR of 7.82%. The market is driven by the increasing demand for geomembranes in the waste management and water management industries. The growing awareness about environmental pollution and the need for sustainable waste management practices are also driving the demand for geomembranes.
Geomembranes are thin, flexible sheets made of various synthetic materials, such as HDPE (high-density polyethylene), LLDPE (linear low-density polyethylene), PVC (polyvinyl chloride), EPDM (ethylene propylene diene monomer), and others. They are used as barriers to prevent the movement of liquids, gases, or other substances in a variety of applications, including waste containment, water management, mining, agriculture, and construction.
The waste management segment is the largest application segment of the geomembrane market, accounting for over 40% of the total market share. Geomembranes are used in landfill liners, landfill caps, and other waste containment applications to prevent the leakage of pollutants into the surrounding environment. The water management segment is the second-largest application segment of the geomembrane market, accounting for around 25% of the total market share. Geomembranes are used in applications such as canal lining, reservoir lining, and aquaculture to prevent water loss and contamination.
Asia Pacific is the largest market for geomembranes, accounting for over 35% of the total market share. The region is expected to continue its dominance during the forecast period, owing to the increasing demand for geomembranes in countries such as China, India, and Japan. North America and Europe are the other significant markets for geomembranes, driven by the growing demand for sustainable waste management practices and the increasing adoption of geomembranes in various applications. Overall, the geomembrane market is expected to witness significant growth in the coming years, driven by the increasing demand for sustainable waste management practices, water management, and mining applications.
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Driver and Restrain:
Increased mining activities in APAC and South America
In recent years, the demand for metals and minerals has increased due to the growing industrialization and urbanization in major countries like China and India. This has led to a surge in mining investments in other APAC countries, including Australia, New Zealand, Japan, South Korea, Singapore, Mongolia, and Indonesia. South America has also emerged as a significant region for the mining industry, attracting investments from major global mining companies. Countries like Brazil, Peru, and Chile have witnessed increased foreign investments in their large mining capacities over the last five years. As the mining industry is one of the major consumers of geomembranes, the rising demand for metals and minerals is expected to drive the geomembrane market during the forecast period. Geomembranes play a crucial role in capturing and recycling harmful chemicals used in solution for pond treatment and secondary containment applications in the mining industry.Top of Form
Fluctuating raw material prices on account of volatility in crude oil prices
One of the primary challenges faced by geomembrane manufacturers is the volatility of crude oil prices. Since most raw materials used in geomembrane production are petroleum-based, they are susceptible to rapid fluctuations in crude oil prices. Any rise or fall in crude oil prices directly impacts the cost of these raw materials, leading to higher production costs for manufacturers. As a result, leading manufacturers have to deal with high and volatile raw material costs, which can reduce their profit margins.
Revenue forecast in 2028
USD 3.9 billion
Geomembrane Market Growth rate
CAGR of 7.82% from 2023 to 2028
Base year for estimation
2018 - 2021
2023 - 2028
Revenue in USD Million, volume in units, CAGR from 2023 to 2028
Revenue forecast, company ranking, competitive landscape, growth factors, trends
By Raw Material; Technology; Application and By Region
North America; Europe; Asia Pacific; Latin America; MEA
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; China; India; Japan; Brazil; Argentina; Saudi Arabia
Key companies profiled
GSE Holdings, Cetco, Agru Kunststofftechnik GMBH, Geofabrics Australasia Pty Ltd, Carthage Mills Erosion Control Company Inc, Naue Gmbh & CO., KG, Jatu Ltd
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Companies Covered in Geomembrane Market Report:
GSE Holdings Agru Kunststofftechnik GMBH Geofabrics Australasia Pty Ltd Carthage Mills Erosion Control Company Inc Naue Gmbh & CO., KG Jatu Ltd Solmax International Inc Officine Maccaferri S.P.A Plastika Kritis S.A. Nilex Inc Firestone Building Products Company, LLC Carlisle Syntec Systems Anhui Huifeng New Synthetic Materials Co., Ltd Atarfil SL Sotrafa.
Develop business strategies by understanding the trends shaping and driving the Market. Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Geomembrane Market in the future. Formulate effective sales and marketing strategies by understanding the competitive landscape and by analyzing the company share of Geomembrane Market leaders. Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage. Track sales in the global and country-specific Market. Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
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The Asia Pacific region held the largest share of the global geomembrane market, accounting for 32.9% of the revenue in 2021. This trend is expected to continue during the forecast period due to increased industrialization and awareness of the benefits of polymer-based geomembrane in construction and mining industries in countries like China and India.
In North America, the geomembrane market is projected to grow at a CAGR of 3.3% from 2023 to 2028. The presence of a strong mining industry in Mexico for extracting silver is expected to drive the use of PVC geomembrane in heap leach mining applications. Additionally, increased shale gas production and a focus on waste management applications are expected to drive market growth.
In key European markets such as Germany and the U.K., there is a shift towards using EPDM and PVC as raw materials for geomembrane manufacturing, which may decrease the use of HDPE due to their superior thermal and mechanical properties. However, sluggish growth in the manufacturing sectors of these countries may hinder market growth. Furthermore, the increasing use of substitute products like clay lining systems and geonets may pose a threat to the geomembrane market during the projected period.
Key Market Segments: Global Geomembrane Market
By Raw Material
HDPE LDPE EPDM PVC Others
Extrusion Calendering Others
Waste Management Water Management Mining Lining Systems Others
North America Europe Asia-Pacific Middle East & Africa South America
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.
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