The global geomembrane market is expected to reach USD 2.43 billion by 2025, according to a new report by Grand View Research, Inc. Increasing spending towards waste and water management programs in Germany, Russia, China, and India is anticipated to drive the market. In addition, positive outlook towards mining industry in Middle East countries, South Africa, Peru, and Chile is expected to play a crucial role in increasing the application of geomembrane as a barrier medium to control industrial waste.
HPDE was the most extensively used raw material accounting for 32.6% of the global geomembrane market volume in 2015. Low cost, ease of installation, good welding strength, excellent low-temperature performance and good thermal stability during exposure makes HDPE as a favorable choice of raw material for the production geomembrane.
Browse full research report on Global Geomembrane MarketMarket: http://www.grandviewresearch.com/industry-analysis/geomembrane-market
Further key findings from the report suggest:
- The global demand for geomembranes was 809.9 million square meters in 2015 and is expected to witness growth on account of its increasing usage for water management, mining, and civil construction
- EPDM is increasingly used as a raw material for the production of geomembrane on account of providing good flexibility, excellent mechanical strength, and effective UV resistance, and thus, is expected to witness the fastest growth at a CAGR of 6% over the forecast period. Geomembrane manufacturers mix EPDM with carbon black, curing agents and processing chemicals to produce larger sheet sizes which induce properties including excellent elastic elongation and superior weathering resistance.
- The global market for extruded geomembranes was 486.5 million square meters in 2015, making it the most widely utilized technology for manufacturing. Extrusion results in the formation of thin sheets which allows for flexibility of the geomembranes resulting in increasing its durability under stress.
- The robust presence of mining base in Australia and China in light of the abundance of minerals such as steel and diamond, respectively, coupled with improvement in mining sectors of African countries including South Africa and Nigeria in light of regulatory support is expected to result in significant demand for geomembranes. Mining is expected to grow at a CAGR of 4.9%, in terms of volume over the forecast period.
- Asia Pacific was the largest consumer of geomembranes in 2015 accounting for 34.3% of the global volume share, and the trend is expected to continue over the forecast period. Rising awareness towards engineering polymers in the construction industry of emerging economies including China and India in light of new capacity additions by companies including BASF and Dow at the domestic level is expected to new markets over the next seven years.
- Key operating companies in the market include GSE Holdings, AGRU, CETCO, NAUE, and Solmax. Companies are focusing on expanding their market share via numerous strategies including mergers & acquisition and capacity expansions. For instance, in May 2014, GSE Environmental, Inc. opened a new manufacturing facility in Suzhou, China. In February 2014, GSE Holding signed a global distribution agreement with Tenax Group. This agreement will enable GSE Holding to distribute the products of Tenax Group, which include reinforced geosynthetics on a global level.
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Grand View Research has segmented the global geomembrane market by raw material, technology, application and region:
Raw Material Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
Technology Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
- Waste Management
- Water Management
- Tunnels & Civil Construction
Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 – 2025)
- North America
- Asia Pacific
- Latin America
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com