Geomembranes Market Size, Growth, Share And Company Analysis Till 2031

(MENAFN- Straits Research) Introduction

A geomembrane refers to a flexible and thin layer of polymeric material that exhibits impermeability. The object in question significantly impedes the flow of water and other fluids. It exhibits superior performance in terms of flexibility and durability compared to other rigid materials. Geomembranes are widely employed in several industries, such as petrochemical, building, and wastewater treatment. Geomembranes are large impermeable membranes composed of reinforced polymeric materials, synthetic membrane liners, or barriers.

Market Dynamics Growth in the Mining Sector Drives the Global Market

Geomembrane is used as containment control in the mining industry's solution ponds and heap leach pads. This chemical is also used in pond liners to ensure that leak detection is working and to prevent the migration of gas and effluent. In an effort to curb mining-related environmental pollution, regulatory bodies such as the United States Environmental Protection Agency and the European Commission have enacted several rules and regulations mandating specific practices for waste management and disposal. This means geomembrane will likely remain an important tool for the mining industry to employ in its fight against solid waste. The expansion of the mining industry will remain an important driver for the time being.

Increasing Production Capacity of Shale Gas Creates Tremendous Opportunities

Hydraulic fracturing necessitates the utilization of freshwater for the purpose of investigating and advancing unconventional resources such as shale gas and tight oil. This freshwater is supplied through the implementation of geomembrane-lined storage and disposal ponds. The substance is also employed in the production of backwater lining, a byproduct of hydraulic fracturing characterized by a high concentration of salt and several chemicals. Geomembranes are also employed in the exploration and extraction of shale gas for the purpose of lining well pads and containment tanks used for fracking chemicals. The utilization of this substance in shale gas production is attributed to its remarkable chemical and stress crack-resistant properties. Such factors are expected to create opportunities for market growth over the forecast period.

Regional Analysis

Asia-Pacific is the most significant global geomembrane market shareholder and is estimated to exhibit a CAGR of 6.61% during the forecast period. EPDM is poised to maintain its position as a promising raw material in key markets such as China, Japan, and Australia. This is because buyers in the construction and mining industries are increasingly drawn to its superior weather resistance and high elastic elongation. There is also a growing awareness of engineering polymers in the construction industry. Given recent capacity expansions by domestic players like BASF and Dow Chemical, new markets are anticipated to open up in growing economies like India and China during the forecast period.

Key Highlights

• The
  global geomembrane market size
  revenue was valued at
  USD 1,902.14 million in 2022 . It is estimated to reach
  USD 2,900.12 million by 2031 , growing at a
  CAGR of 4.81%
  over the forecast period (2023–2031).
• Based on raw materials, the global geomembrane market is segmented into HDPE, LDPE, EPDM, PVC, and others.
  The HDPE segment dominates the global market and is estimated to grow at a CAGR of 4.5% during the forecast period.
• Based on technology, the global geomembrane market is segmented into extrusion, calendering, and others.
  The extrusion segment owns the highest market share and is estimated to exhibit a CAGR of 4.6% during the forecast period.
• Based on application, the global geomembrane market is segmented into waste management, water management, mining, tunnels and civil construction, and others.
  The mining segment is the highest contributor to the market and is estimated to exhibit a CAGR of 5.3% during the forecast period.
• Asia-Pacific is the most significant global geomembrane market shareholder and is estimated to exhibit a CAGR of 6.61% during the forecast period.

Competitive Players

GSE Holding Inc.

NAUE GmbH & Co. KG

JUTA a.s.

Solmax International Inc.

Cetco

Agru

Geofabrics Australasia Pty Ltd.

Carthage Mills Erosion Control Company Inc.

Officine Maccaferri S.p.A.

Bridgestone America

Recent Developments

Recent Developments

• July 2023 - In Karnataka's coastal regions, geomembrane tanks were built to collect rainfall for agricultural use . According to reports, the 1.5-crore-liter geomembrane tank in Moodbidri, constructed on 1.5 acres of land, is the biggest ever constructed in the coastal area for agricultural purposes.

Segmentation

By Raw Material

HDPE

LDPE

EPDM

PVC

By Technology

Extrusion

Calendering

Others

By Applications

Waste Management

Water Management

Mining

Tunnels and Civil Construction

Others

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