Global Geomembranes Market- Industry Trends & Forecast Report 2027 - PDF document

Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% Global Geomembranes Market- Industry Trends & Forecast Report 2027 Summary Global Geomembranes Market, By Raw Materials (High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), Ethylene Propylene Diene Monomer (EPDM), Polypropylene (PP), Other Raw Materials); By Application (Agriculture, Construction, Soil management, Mining, Water management, Waste management, Other Applications); By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA)) Trend Analysis, Competitive Market Share & Forecast, 2017-2027 A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting revealed that the global geomembranes market was worth USD 1.93 Billion in the year 2020. It is estimated to grow at the CAGR of 9.4%, earning revenue of around USD 3.58 Billion by the end of 2027. Because of increased shale gas production in countries such as the United States and Canada, the applications and demand for geomembranes are growing in the North American region. This acts as a crucial driving factor for the growth of the market. Geomembranes are also excellent for protecting industrial and residential buildings. As a result, they're extensively used in building and infrastructure production because they protect against pollution and contamination. The demand for geomembranes is expected to increase during the forecast period, owing to their increasing application and utility. View report Press release Sample report Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% Global Geomembranes Market- Industry Trends & Forecast Report 2027 The global geomembrane market was worth USD 1.93 Billion in 2020 and is further projected to reach USD 3.58 Billion by 2027, at a CAGR of 9.4% during 2021-2027 (forecast period). The surge in mining activities in many different regions is estimated to be the major growth factor in the global geomembranes market. Geomembranes have multiple uses, especially in the construction, waste & water management sector. It prevents commercial as well as residential buildings from pollutants, which bring a reduction in their depreciation value to a great extent. Therefore, the high demand in these two sectors is expected to push the global geomembranes market growth in the forecast period. Global Geomembranes Market - Overview Geomembranes are impermeable membranes that act as a barrier to control fluids. These are made up of polymeric or synthetic materials. They have wide applications in man-made projects and structures. Wastewater storage, agricultural and recreational ponds/lakes, tunnel membranes, and canal linings are all examples of geomembrane applications. Geomembranes prevent the penetration of pollutants and fluids into these structures, expanding their overall life. These membranes are made by suffusing geotextiles with either asphalt elastomer, or polymer sprays. The geotechnical engineering materials sector is expanding due to the availability of raw materials and their applications. By thermally or chemically melting geotechnical engineering materials together, their toughness and strength can be easily shaped and personalized. As a result, they are applicable to a wide range of industries. Global Geomembranes Market Forecast and Trends Growth Drivers Flourishing Infrastructural Developments is Driving the Global Geomembrane Market Growth in the construction and mining industries, as well as increasing pollution and government waste management legislation, are all major growth drivers for this market. Infrastructure construction is constantly underway, especially in developing economies such as China, India, and South Korea. The global geomembrane market will expand as a result of this. Construction of various projects such as highways, airports, bridges, dams, water supply, and treatment plants, among others, ensures a steady demand for geomembrane products, propelling the market forward. Geomembranes have many uses in the construction industry alone. Its properties, such as sturdiness, thickness, and density, provide strength to the output, which serves as a driving factor for the global geomembrane market's development. Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% Concerns Surrounding Water and Waste Management is Likely to be a Crucial Factor in Market Growth Geomembranes are very effective in controlling fluids. They can infiltrate quickly and effectively. Therefore, they have a high market demand for waste and water management. In comparison to chemical treatment, this proves to be a very sustainable alternative. Furthermore, the treated water needs a suitable storage facility, such as a reservoir. Geomembranes prove to be an excellent choice for acting as a reservoir liner because they are extremely robust and do not need a replacement for extended periods. Restraints Volatile Petroleum Prices Will Directly Influence the Global Geomembranes Market Most geomembranes are produced with petroleum-based raw materials. Thus, any change in crude oil prices is going to influence the prices of geomembrane directly. Crude oil prices are highly inconsistent which directly affects the prices for geomembrane products. This also has a direct impact on the manufacturers' sales and lowers their profit margins. It happens because, as crude oil prices fluctuate, raw material prices fluctuate as well. As a result, manufacturers have to bear the raw material price fluctuations. This inconsistency directly influences the demand for geomembrane products, which hampers the market growth. Impact of COVID-19 on Global Geomembranes Market The outbreak of COVID-19 and the declaration of the pandemic had negatively affected a lot of industries. The lockdown imposed by the government of most of the countries has halted the operations of almost all the industries as production and manufacturing units were closed down. Following the social-distancing norms, demand for geomembranes plummeted as construction and manufacturing activities came to a halt due to the pandemic-induced lockdown. In the post-COVID-19 period, as the lockdown restrictions were lifted, business operations resumed. However, it is going to take quite some time for the geomembrane market to get back on track. The closure of manufacturing units has resulted in a shortage of raw materials in the market. Even if construction and other business activities resume, it will take a long time for the market to close the gap between demand and supply. Global Geomembranes Market - By Raw Materials Based on raw materials, the global geomembrane market is segmented into, high-density polyethylene (HDPE), low-density polyethylene (LDPE), linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), ethylene propylene diene monomer (EPDM), polypropylene (PP), and other raw materials. The high-density polyethylene (HDPE) covers the largest market share in terms of raw materials. Factors like easy installation and better thermal stability drive HDPE’s market demand in various sectors. The production sectors have a high demand for HDPE as they are less expensive as compared to other raw materials, which helps them regulate the price of the final products conveniently. Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% Global Geomembranes Market - By Application Based on application, the market is categorized into agriculture, construction, soil management, mining, water management, waste management, and others. The mining sub-segment holds the largest market share. The application of geomembrane in the mining sector is very crucial, which is a major growth driver in the market. These geomembranes prevent the leakage of leachates at the time of metal dissolution. Furthermore, developing water infrastructure and rising concern surrounding wastewater management also works in favor of market growth. Global Geomembranes Market - Regional Insights Geographically, the global geomembrane market is segmented into North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region has witnessed the fastest growth in the demand for geomembrane products in 2020. This growth is the result of the rapid industrialization, and the range of developing economies like China, India, South Korea, etc., this region has. The Asia-Pacific region is continuously undergoing infrastructural development in various sectors like oil and gas, mining industries, etc. which is propelling the demand for geomembrane in these markets. Furthermore, waste management by factories and municipalities has become mandatory due to government regulations in various countries, which is expanding the geomembrane sector. Competitive Insights The key players in the global geomembranes market are Plastika Kritis SA, Solmax International Inc., Atarfil SI, Raven Industries Inc., Agru America, Inc., US Fabrics, Geosynthetics Limited, SOPREMA, Nilex, Ginegar Plastic Products, Global Synthetics, Layfield Group, Titan Environmental Containment, Texel Industries Limited, Anhui Huifeng New Synthetics Materials, The NAUE group, Carthage Mills, Environmental Protection, Geofabrics and other prominent players. Partnerships and acquisitions are very common in the competitive landscape of the global geomembranes market mergers. The market players adopt these competitive growth strategies to expand their market and user base all around the world. They are also constantly working towards expanding their capacity. Furthermore, manufacturers are pursuing technologies to enhance the quality and functionality of their geomembrane products, such as investing in advanced fillers to improve customer satisfaction. Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% Recent Developments In April 2021, the leading giant in the geomembrane market, Solmax announced the acquisition of the TenCate Geosynthetics, a geosynthetics and natural fibers provider under Koninklijke Ten Cate, a Netherlands-based company. The agreement was made to enhance geosynthetics products and expand their application in various sectors like road infrastructure, civil engineering, hydraulic and environmental work, etc. In March 2021, Anue Water, a geomembrane cover provider announced its partnership with Faco Waterworks technology. This has made Faco Waterworks the new channel partner for the sales and distribution of its products. The partnerships between these two will run throughout the state of Indiana. Scope of the Report Attributes Details Years Considered Historical data – 2017-2020 Base Year – 2021 Forecast – 2021 – 2027 Facts Covered Revenue in USD Billion Market Coverage North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa Product Service/Segmentation By Raw-material, By Application, By Region Key Players Plastika Kritis SA, Solmax International Inc., Atarfil SI, Raven Industries Inc., Agru America, Inc., US Fabrics, Geosynthetics Limited, SOPREMA, Nilex, Ginegar Plastic Products, Global Synthetics, Layfield Group, Titan Environmental Containment, Texel Industries Limited, Anhui Huifeng New Synthetics Materials, The NAUE group, Carthage Mills, Environmental Protection, Geofabrics and other prominent players. By Raw Materials (Value, USD Million: 2017-2027) Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% l High-density Polyethylene (HDPE) l Low-density Polyethylene (LDPE) l Linear Low-density Polyethylene (LLDPE) l Polyvinyl Chloride (PVC) l Ethylene Propylene Diene Monomer (EPDM) l Polypropylene (PP) l Other Raw Materials By Application l Agriculture l Construction l Soil management l Mining l Water management l Waste management l Other Applications By Region l North America l Europe l Asia-Pacific (APAC) l Latin America (LATAM) l Middle-East & Africa (MEA) Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4% About us Blueweave Consulting offers a one-stop solution for your market intelligence needs for any service or product. You get well-researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk-return trade-off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us at info@blueweaveconsulting.com Global Geomembranes Market Booming: Projected to Reach USD 3.58 Billion in the Year 2027 at the CAGR of 9.4%