The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026.
Rapidly increasing population and urbanization is contributing in increasing levels of solid and liquid wastes across the globe. Rising environmental awareness is leading to an increase in the demand for appropriate waste and water management projects. Geosynthetics are used as landfill caps to prevent the migration of fluids into landfills by reducing or eliminating the post-closure generation of leachate and associated treatment costs. Geosynthetics are widely used in various water management activities owing to the increasing public concerns in serious and widespread water pollution. Geosynthetics liner systems are used in waste treatment lagoons at wastewater treatment plants to protect water resources including lakes, rivers, ponds, aquifers, and reservoirs which is expected to boost the demand for geosynthetics during the forecast period.
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Waste management contributes for the largest market share for the geosynthetics market in 2020. Geosynthetics are used in waste management for performing various functions such as filtration, separation, drainage, barrier, and reinforcement. It includes the proper collection, transport, treatment, recycling, and disposal of residential, industrial, and commercial waste. Geosynthetics are essential for controlling the leakage of contaminated gas and liquid into groundwater, rivers, aquifers, and other freshwater sources. The rising demand for waste management owing to increase in population, urbanization, and industrialization is expected to drive the geosynthetics market during the forecast period.
Geosynthetics market is dominated by APAC in 2020. The region is growing at a faster rate which accounts for the high growth of the geosynthetics market. The emerging market of India, China, and other countries of the APAC are growing and boosting the regional market growth. Rapidly increasing population, urbanization, and industrialization are expected to drive the geosynthetics market in APAC. Rising investment In the development of public infrastructure and growing demand for solid waste management system are the major factors driving the geosynthetics demand in the region.
Key players in the geosynthetics market are SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa ( Italy), Berry Global Inc ( US), and Agru America, Inc ( US) are the major players in the market.
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