Geosynthetics Market to reach US$ 20.80 Bn by 2023 | Page 2

Geosynthetics Market

REPORT DESCRIPTION

Geosynthetics (Geotextiles, Geomembranes, Geogrids, Drainage Composites
and Others) Market for Containment, Reinforcement, Filtration and
Drainage and Other Functions - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 – 2023
Transparency Market Research has released a new market report titled “Geosynthetics Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015 - 2023.” According to
the report, the global geosynthetics market was valued at US$ 9.57 Bn in 2014 and is anticipated
to reach US$ 20.80 Bn by 2023, expanding at a CAGR of 9.1% between 2015 and 2023.
Geosynthetics are man-made polymeric products that are used to stabilize terrain by enhancing their
properties. Geosynthetics can be divided on the basis of products into geotextiles, geomembranes,
drainage composites, geogrids, and others. Furthermore, geosynthetics can be divided on the basis
of function into reinforcement, containment, separation, drainage, and filtration.

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In terms of volume, Asia Pacific accounted for more than 30% share of the global geosynthetics
market in 2014. Increase in construction projects and mining activities is expected to drive the global
geosynthetics market during the forecast period. Volatile raw material prices and availability of
inexpensive alternatives are projected to act as a challenge for the geosynthetics market until 2023.
Factors such as increased usage of geosynthetics in green roof and green wall coupled with
government initiatives to promote usage of natural geosynthetics are anticipated to act as an
opportunity for the geosynthetics market during the forecast period.
Middle East & Africa is anticipated to be the fastest-growing market for geosynthetics during the
forecast period owing to increasing demand from the construction industry. Asia Pacific constituted
the largest share of the geosynthetics market in 2014. Demand for geosynthetics in the region is
estimated to be largely driven by rapid rise in demand of geosynthetics in India, China, and ASEAN.
Growth in the mining sector and increasing infrastructure development are projected to drive demand

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