Sellbyville, DE -- (SBWire) -- 10/24/2018 --GMI presents a most up-to-date research on "Geosynthetics Market – Global Industry Analysis, Size, Share, Growth Potential, Trends Statistics, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, Japan, India, South Korea, Australia, Malaysia, Thailand, Brazil, Saudi Arabia, UAE, South Africa) and Forecast 2017 – 2024".
Geosynthetics Market size is set to surpass USD 12 billion by 2024; according to a new research report by Global Market Insights, Inc. Rapid urbanization in China, India and Brazil along with favorable government initiatives to improve infrastructure will favor housing, transport, construction and energy industries, thereby driving geosynthetics market size. Increasing environmental concerns along with shift in consumer trends towards green buildings and material should positively influence industry growth.
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Geotextile market size from pavement repair applications should exceed USD 480 million by 2024. It possesses high tensile strength, permeability, abrasion resistance and porosity, thus restricting water percolation and preventing crack formation in pavements and roads. Increasing demand for geotextiles as physical in barrier between the aggregate and weak part of subgrade soil and reduction of repair & construction cost and time should favor geosynthetics market growth.
Polyester, polypropylene, polyethylene, EPDM and PVC are the major raw materials used in the production process of geosynthetics. Fluctuating raw material costs owing to widespread usage in construction, and automotive industries may impact industry profitability & affect geosynthetics market supply demand gap.
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North America led by Canada and the U.S. geosynthetics market demand is expected to be over USD 4.5 billion by 2024. AASHTO has considered various standard specification for geotextiles and registered installation norms for application in separation, erosion control, pavement, and drainage.
Europe driven by France, UK, Italy, and Germany geosynthetics market should register significant gains at over 4% up to 2024. Increasing government initiatives for roads, airports, green building, and railways accompanied with rising environmental concerns towards solid waste and waste water treatment should drive regional industry growth.
Asia Pacific geosynthetics market, driven by Japan, China, South Korea and India is expected to exceed USD 5.5 billion by 2024. Growing environmental concerns and consumer awareness for biodegradable material consumption should propel regional growth. Low labor wages and manufacturing costs may support industrial participants to set up various production facilities in China region.
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Global geosynthetics market share is concentrated with various players including Royal TenCate, TENAX, Tensar International, TYPAR, Fibertex, and Huesker High R&D spending by manufacturers accompanied with various environmental regulations may improve & expand product diversification, thereby stimulating industry growth.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Geosynthetics Market Expects 11 Billion Square Meters Consumption by 2024 : ACE Geosynthetics, Tenax Corporation, HUESKER Group, Tensar International Corporation, Strata
Europe driven by France, UK, Italy, and Germany geosynthetics market should register significant gains at over 4% up to 2024.