Geosynthetics Market Trends

Growth Drivers

Significant Demand in Infrastructure, Irrigation and Waste Management Projects to Boost the Market Growth

According to Geosynthetic Materials Association, geosynthetics are used in various applications such as roads and pavements, subsurface drainage, erosion and sediment control and seepage control systems.

The geosynthetics are widely used in huge projects to enhance civic amenities like infrastructure, environmental and transportation projects owing to its excellent material properties such as chemical and thermal resistivity, weatherability, stability, strength, and durability. Additionally, they are also used immensely in various applications such as mining and waste management and any other type containment facilities where they serve as a barrier from waste containment. Further, the market growth is attributed to ability of geosynthetics to provide reinforcement to the soil for preventing erosion and control seepage losses in irrigation projects. These factors are anticipated to significantly expand the geosynthetics market.

Supportive Government Regulations

The presence of government initiatives and regulations imposed on the usage of geosynthetics is anticipated to boost the market growth. Under the Resource Conservation and Recovery Act (RCRA), United States Environmental Protection Agency’s (EPA) has mandated the application of geosynthetics in landfills and enforcement of lining coal ash sites.

Focus on Uplifting Small-Scale Fabric Industry to Drive the Market

Global geosynthetic products are gaining high demand owing to the leading woven and non-woven textile producing countries facilitating trade with major infrastructure developing countries. On the back of these, the market is predicted to grow over the forecast period.

Challenges

Price Volatility of Raw Materials to Hamper the Market Growth

Despite wide-scale application of geosynthetics, there is a large volatility in prices of raw material owing to their existence in downstream products of petrochemicals. This is estimated to hinder the growth of market in the future.