June 23, 2024
Geosynthetics Market

Geosynthetics Market Poised for Growth due to Increasing Road Infrastructure Developments

Geosynthetics are synthetic or natural products used in geotechnical and civil engineering applications. They include geotextiles, geomembranes, geogrids, geonets, and geofoams. Geotextiles are permeable fabrics which, when used in association with soil, have the ability to separate, filter, reinforce, protect, or drain. They are made from polypropylene, polyester, and other materials. Geomembranes are impermeable synthetic materials used to line wastewater lagoons and landfills, contain liquids, and control erosion.

Geogrids are geo synthetic materials formed into an open, lattice-shaped structure used for soil reinforcement, slope stabilization, and load support. Geonets are formed into three-dimensional grid structures used for drainage applications. Geofoams are expanded or extruded foams used for various purposes including lightweight fill. These geosynthetics find applications in roads, railways, bridges, agricultural drainage, and erosion control among others.

Global Geosynthetics Market Size is estimated to be valued at US$ 15 billion in 2023 and is expected to exhibit a CAGR of 4.5% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.

The increasing road infrastructure developments around the world is expected to drive the geosynthetics market. Geosynthetics are used extensively in road construction for functions like separation, drainage, reinforcement, filtration and containment. They help build longer lasting and more cost-effective roads. Some key uses of geosynthetics in roads include separation of subgrade from ballast, retaining walls, embankments, slope stabilization, and drainage applications. According to the World Road Statistics report, the total road network length globally increased from 35 million km in 2015 to over 37.9 million km in 2020. Continued investments in new road projects as well as repairs and expansion of existing road networks will generate strong demand for geosynthetics over the coming years.

Market Dynamics:
One of the key drivers for the geosynthetics market expansion is the increasing road infrastructure developments globally as refered in the heading. Governments across countries are heavily investing in road construction projects to boost economic growth, mobility and connectivity. Continued focus on upgrading ageing road infrastructure as well as the development of new highways, expressways and rural roads will drive the need for geosynthetic materials in varied

Segment Analysis
The geosynthetics market is dominated by the geotextiles sub-segment, accounting for over 35% of the market share. Geotextiles have wide applications in construction sector for functions like separation, filtration, drainage, reinforcement etc. Their ability to provide stability to soil and flexibility of usage has resulted in increased demand from road construction and erosion control projects.

PEST Analysis
Political: Growth of infrastructure across regions positively impacts the market. Supportive government policies for development of roads, railways, irrigation projects boosts geosynthetics consumption.
Economic: Investments in development of transportation networks, waste management boost demand. However, recession impacts infra spending affecting the market.
Social: Rising urbanization increases requirement of geosynthetics for ground stabilization, landfill lining etc. Awareness regarding application in erosion control grows demand.
Technological: Advancements in material properties aid new applications. Durability, strength improvements expands utility.

Key Takeaways
The global geosynthetics market is expected to witness high growth.

Regional analysis: The Asia Pacific region dominates with a share of over 35% owing to rapid infrastructural developments in countries like China and India.

Key players related content comprises Key players operating in the geosynthetics market are TenCate, Solmax, Tensar Corporation, Propex, NAUE GmbH & Co. KG.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it