The geosynthetics market size in terms of value is projected to grow at a CAGR of 10.99% between 2014 and 2019 to reach $15,403.7 billion by 2019. North America held the largest share in 2013, in terms of value.
The geosynthetics market in North America region is growing fast, mainly due to evolving environmental regulations and standards, for example, The U.S. Environmental Protection Agency (EPA) has regulated all coal ash containment sites to use geosynthetics liners.
The Asia-Pacific region alone is expected to generate over 38% of the global geosynthetics demand in the coming five years, as developing countries in this region plan to undertake large-scale infrastructure and other development projects. In addition, erosion control projects such as preventing soil erosion in the coastal regions, and construction of canals and reservoirs will also boost growth of geosynthetics in this region.
The major players in the geosynthetics market are ACE Geosynthetics, ACH Foam Technologies, AGRU America Inc, Asahi Geotechnologies Co. Ltd, Belton Industries Inc, Carthage Mills, Cetco Lining Technologies, Contech Engineered Solutions LLC, Gundle/Slt Environmental Inc. (GSE), Hanes GEO Components, Huesker Synthetic GMBH, Kaytech Engineered Products, Low & Bonar PLC, NAUE GMBH & Co. KG, officine Maccaferri, Propex, Royal Tencate Nv, Strata Systems Inc, Tenax Group and Tensar Corporation.
Partnerships, agreements, joint ventures and collaborations were the most preferred growth strategy among the major players in the geosynthetics market, globally. The major players are enhancing the global presence. GSE Environmental (U.S.) opened new manufacturing facility in China for geomembrane products.
Many companies offering geosynthetics are actively trying to increase their product portfolio and regional presence to cater to different regional markets. Asia-Pacific is the fastest growing market in terms of value during 2014-2019, mainly due to huge investment in the infrastructure projects in the region.
Source: Virtual Strategy
