Global geomembranes will upsurge over the next five years. According to the WK-chem Research, "Global Geomembranes Professional Survey Report 2022, Forecast to 2027", increased awareness regarding water management in developed countries is one of the factors boosting the geomembrane market growth. The compound annual growth rate (CAGR) for the 2022-2027 period is projected to be 8.31% base on WK-chem Research regression analysis model.
Analysts' Viewpoint
"The companies are expected to launch new products fortified with excellent features including good mechanical strength of enhanced waterproofing resistance. Manufacturing companies are projected to invest more in sophisticated fillers to improve the qualities of final geotechnical goods and give better service to clients. Moreover, the companies are also focusing on inorganic growth through mergers and acquisitions along with establishing partnerships with e-commerce portals to ensure that the buyers have timely access to geotechnical products", said Judith Patel, Senior analyst, in WK-chem Research.
Market insight
Increasing infrastructure spending and increased awareness of water management are projected to fuel the market for geomembrane. Furthermore, increasing activities related to environment protection, civil construction, and groundwater protection are expected to drive the market over the forecast period. However, variations in crude oil prices are a major factor limiting the growth of the geomembranes industry. The majority of geomembranes' raw materials are petroleum-based, making them subject to crude oil price fluctuations. The price of raw materials is directly impacted by changes in crude oil prices. The impact of COVID-19 pandemic on the various end-user industries' growth and the resultant supply chain disruptions has impacted the market negatively. Apart from this many companies that offer water treatment technologies have reduced subsidized prices due to economic instability which further has impacted the market studied.
Competition Landscape
: In February 2018, Atarfil acquired Garden City Geotech (Australia), largest manufacturer of HDPE geomembranes in Australia. This acquisition enabled the company to strengthen their its expertise and presence in the Australian market. This WK-chem Research market report is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading geomembranes companies that include: Agru America Inc., Atarfil, Carlisle SynTec systems, Carthage mills Inc., Naue GmbH & co, Solmax, Raven industries Inc, Juta, Plastika kritis, and Officine Maccaferri SPA
Market Segmentation
: According to the type, the market for geomembranes is divided into: HDPE, LDPE & LLDPE, PVC, EPDM, PP, Others. HDPE HDPE geomembranes are the largest and fastest-growing segment in terms of value. These membranes have excellent properties such as chemical resistance, high durability, high stability, ultraviolet protection, inherent flexibility, and aging resistance from powerful stresses of weather. HDPE geomembranes are commonly used for applications that demand excellent chemical & UV resistance and overall endurance properties at an affordable cost. According to the application, the market for geomembranes is divided into: Mining, Waste Management, Water Management, Civil Construction, Others. Mining has the largest market share. Of these, mining is estimated to be the largest application during the forecast period. Owing to the durability of geomembranes, in harsh climates, its application is significantly increasing in the mining sector including metal mining, non-metallic mineral mining, and energy mining. The most common applications of geomembranes in the mining industry include heap leach pads, waste water runoff ponds, tailing ponds, processed water containment, floating covers, soil remediation, secondary containment, and tailings cap enclosures. Geomembranes
Regional Market Analysis
In terms of geography, the global geomembranes market has been segmented into: North America, Asia Pacific, Europe, South America, and the Middle East and Africa. Region wise, Asia-Pacific is the fastest growing region, owing to presence of emerging countries such as China, India, Japan, and others in the region, where industrial activities are expected to boom in the coming years. This factor will correspondingly surge the adoption of geomembrane during the forecast period. North America has garnered highest share in the market, owing to rise in stringent regulation for waste and water management across sectors such as oil & gas, construction, and others.
Cagr: 8.31%
Region with the largest share: North America
Largest country in largest share region: the United States
Product Type: HDPE, LDPE & LLDPE, PVC, EPDM, PP, Others.
Application: Mining, Waste Management, Water Management, Civil Construction, Others.
Leading Company: Agru America Inc., Atarfil, Carlisle SynTec systems, Carthage mills Inc., Naue GmbH & co
