Global Geosynthetics Market: Mining and Construction Industry Driving Growth, finds TMR

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The global geosynthetics market is fragmented in nature due to the relatively easy manufacturing process of synthetic fibers, which has enabled the emergence of several players. Together, the top six companies accounted for 39.7% share of the global market in terms of revenue in 2014. TenCate Geosynthetics, the leader of the market in 2014, held 11.1% share. The other five prominent players are GSE Environmental, Inc., Officine Maccaferri S.p.A., NAUE Gmbh & Co. K.G, and Low & Bonar PLC. The global market for geosynthetics was valued at US$9.6 bn in 2014, and rising at a healthy CAGR of 9.1% during the forecast period of 2015–2023, it is estimated to value US$20.8 bn by the end of 2023.

TenCate Geosynthetics has gained market share in recent times after the acquisition of Performance Materials Corporation Baycomp (PMC Baycomp) in 2012. Though NAUE Gmbh possessed significant and yet smaller shares in the global geosynthetics market in 2014, the company is expected to rise after the expansion in production capacity. The market share of Low and Bonar PLC is anticipated to increase after the acquisition of Texiplast, a Slovakia-based company specializing in high strength geosynthetic products. The global geosynthetics market exhibits high degree of forward integration. Companies such as Agru America, Tensar Corporation, Tenax, and NUAE Gmbh and Co. K.G. not only manufacture geosynthetics but are also engaged in construction of projects that include installation of geosynthetic products. Skilled personnel is required for the installation of geosynthetics. Skilled personnel is required for the installation of synthetics. Hence, manufacturing companies also undertake construction projects where geosynthetics are used.

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Vastly Populated China Dominates Demand

In terms of volume, the geotextiles product segment dominated the global geosynthetics market, accounting for 40.1% share in 2014. The segment is anticipated to continue its dominance during the forecast period of 2015–2023, expanding at a robust CAGR of 8.4%. In terms of volume, the geomembranes segment held maximum share in 2014 and is projected for a healthy growth rate during the forecast period. Geographically, the region of North America and the country-wise market of China dominated the demand in the global geosynthetics market, accounting for 35% shares in 2014.

Regions such as ASEAN, Rest of Asia Pacific, and GCC experienced prominent growth rate and exhibited medium market attractiveness in 2014, owing to contribution from developing countries such as India, Indonesia, Bangladesh, and the Philippines, and Iran. Growth in infrastructure industry is the primary factor driving the geosynthetics market in these countries. The geosynthetics market in Brazil, Japan, and Rest of MEA experienced significant growth in 2014 due to expansion in end-user industries such as construction and mining in these regions. Middle East and Africa is expected to be the fastest growing regional market for geosynthetics due to the rising usage of geosynthetics in construction and infrastructure industries in the region.

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Growing Environmental Concerns Favoring Growth

Increasing environmental concern to prevent soil erosion and increasing investments in infrastructure development are anticipated to drive the global geosynthetics market during the forecast period. Geosynthetics such as geogrids, geotextiles, and geocomposites exhibit excellent physical properties. These geosynthetics are flexible and highly effective. Therefore, these are widely used as reinforcement and containment material in construction projects. The rise in mining activities in energy sector is also likely to boost the geosynthetics market during the forecast period. Geomembranes are used to restrict the penetration of wastes from mines into the environment. Geotextiles are employed in mines to allow the seepage of water without the loss of soil. Conversely, the fluctuation in raw material prices and availability of low-cost substitutes are two factors that may hinder the growth rate during the forecast period.

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According to the author of the report, “The increase in usage of geosynthetics in green roof and green wall construction is likely to act as an opportunity for the existing players in the market. Geosynthetics possess excellent physical, mechanical, and hydraulic properties.”

The information presented in this review is based on a Transparency Market Research report, titled, “Geosynthetics Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.” 

Key Segments of the Global Geosynthetics Market

Geosynthetics Market – Product Segment Analysis

  • Geotextiles
  • Geomembranes
  • Geogrids
  • Drainage Composites
  • Others (Geosynthetic Clay Liners, etc.)

Geosynthetics Market – Function Analysis

  • Containment
  • Reinforcement
  • Filtration and Drainage
  • Others (Separation, etc.)

Geosynthetics Market – Regional Analysis

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East & Africa (MEA)
    • GCC
    • South Africa
    • Rest of MEA

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