Geosynthetics Market
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 .
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 .”
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