In 2017, the global geosynthetic materials market was valued at 10.2 billion U.S. dollars and is expected to reach 26.5 billion U.S. dollars by 2026, with a compound annual growth rate of 12.68% during the forecast period.
With the enhancement of environmental protection awareness, people's understanding of the performance advantages of geosynthetics in various applications has become stronger and stronger, which will dominate the global biosynthetic materials market. In the construction process, geosynthetics are favored for their excellent tensile strength, porosity, flexibility, permeability, compatibility, and other characteristics, which are expected to drive the vigorous development of the construction industry. In addition, the introduction of stricter regulatory standards for environmental management, waste management, and building codes is expected to promote the global geosynthetic material market.
Geogrids are expected to dominate the growth of the global geosynthetics market. The rapid growth of the global construction industry is expected to increase the demand for geogrids. Due to the versatility, practicability, and economic benefits of geogrids, the use of geogrids is increasing, and it is expected that the construction industry will occupy a large share of the global labor grid market. In addition, another driving factor of the global geogrid market is that geogrid has excellent properties such as lightweight, easy operation and high-temperature stability.
Polypropylene-based geosynthetics are expected to grow significantly in the global geosynthetics market. Polypropylene has important value in manufacturing packaging materials, consumer products, fabrics, and plastic parts, and it is also widely used in geotextiles. Polyethylene is mainly used to produce geomembrane with flexibility and water resistance.
The use of geosynthetics makes roads and railways stronger, and the drainage system is more complete, which is expected to reduce the number of accidents and casualties caused by improper roads and railway lines. As people's awareness of the use and application of geosynthetics increases, the application of geosynthetics is also increasing.
The Asia-Pacific region is expected to lead the global geosynthetic material market. The market's leading position is attributed to the continuous development of road construction in developing countries such as India, China and Southeast Asian countries. In India, the government has initiated some projects, such as the completion of 100 smart cities by 2022 to provide housing for all residents. These projects are expected to greatly promote residential construction. In addition, North America is expected to dominate the growth of the global geosynthetics market. The "Resource Conservation and Restoration Act" (RCRA) of the United States enforces the use of geomembrane and geosynthetic clay liner (GCL) as the bottom liner for garbage containment, landfill and impervious walls. During the forecast period, the improvement of environmental awareness and regulations is expected to promote the growth of the geosynthetics market.