The North America Geomembranes Market Expected to Witness Lucrative Growth Opportunities Through 2025, Says MarketsandMarkets™
Geomembranes are low permeability synthetic liners or barriers used to control fluid or gas migration within soil, rock, earth, or any other geotechnical material, as an integral part of human-made projects, structures, or systems. Geomembranes have superior qualities such as excellent chemical resistance, high durability, high stability, ultraviolet protection, inherent flexibility, and aging resistance. The common application of geomembranes is in waste and water treatment facilities, landfills, reservoirs, pond liners, floating covers, and construction.
MarketsandMarkets expects the global geomembranes market to grow from USD 2.1 billion in 2020 to USD 3.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period.
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HDPE membranes are the fastest-growing type segment and are likely to lead the market in terms of value between 2020 and 2025. These membranes are chemical resistant, UV resistant, and aging resistant, and have long-term durability, high stability, and excellent flexibility. HDPE membrane’s outstanding properties combined with low cost and easy availability are expected to help the high growth during the forecast period.
Waste management is the fastest-growing application of the geomembranes market owing to the increasing environmental concerns. Geomembrane liners protect the groundwater, a geomembrane cap contains landfill gas and covers prevent evaporation or contamination of valuable resources such as potable water and prevent odor emission. PVC geomembranes are the most suitable for this application due to their high elongation and durability. An increasing amount of municipal as well as industrial waste is the major factor leading to the highest growth rate in the market.
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The geomembranes market in APAC is projected to register the highest CAGR during the forecast period. The growth of the population, industrialization, and urbanization drive the need for waste and water management activities in the region. The infrastructure market in APAC is driven by the growing construction industry, increased consumer spending, and strong economic growth. Moreover, growing economies in the region, such as China and India, are leading to high demand for geomembranes. All these factors are expected to be favorable for the growth of the geomembranes market.
The recent COVID-19 pandemic is expected to impact the global economy. COVID-19 led the industrial sector into an unknown operating environment, globally. Government restrictions regarding lockdown have severely impacted the mining and construction industries. Logistical constraints, manpower shortages, and government restrictions have forced these industries to close down, hence, disrupting industrial activities. Major economies such as the US, China, India, and others face the brunt of the COVID-19 pandemic.
The major geomembranes vendors include Solmax (Canada), Raven Industries (US), AGRU (Austria), Carlisle Construction Materials LLC (US), Atarfil (Spain), PLASTIKA KRITIS (Greece), JUTA (Czech Republic), Maccaferri (Italy), Firestone Building Products (US), The NAUE group (Germany), Anhui Huifeng New Synthetic Materials (China), Carthage Mills (US), Environmental Protection (US), Geofabrics (Australia), Geosynthetics Limited (UK), Ginegar Plastic Products (Israel), Global Synthetics (Australia), Layfield Group (Canada), CETCO (US), Nilex (Canada), SOTRAFA (Spain), SOPREMA (France), Texel Industries Limited (India), Titan Environmental Containment (Canada), and US Fabrics (US).
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