Geomembrane Market size is expected to value at USD 2.43 billion by 2025. The geomembrane industry is subject to witness a substantial growth due to the rising expenditure towards waste and water management programs in both developed as well as developing economies across the globe. Increasing demand for shale gas from countries such as Germany, Russia, China, and India is expected to stimulate market growth over the forecast period. Robust growth of the mining sector in the Asia Pacific economies such as China, Australia, and Japan is propelling the market demand for geo-membrane, in the recent years.
Favorable
government laws & regulations along with rising metal demand at the
domestic level is predicted to boost market demand for geo-membrane in the
various applications. Some of the typical applications of the geo-membrane
include landfill covering and containment control. Globally, the geomembrane
market is predicted to grow at higher CAGR in the forecast period providing
numerous opportunities for market players to invest for research and
development in the geomembrane industry.
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Furthermore,
introduction of favorable regulatory standards by both local and international
authorities such as the European Commission and EPA associated with the implementation
of waste management practices in various sectors such as manufacturing
industry, mining and oil & gas sector. Large number of geo-synthetic
materials are finding applications in mining and oil & gas sector as
shielding medium due to their corrosion resistance properties and resistance to
adverse atmospheric conditions. The recent technological advancements such as
development of new arc equipment that are typically used for production of
geo-membrane to identify leaks are anticipated to foster market growth over the
forecast period.
Increasing research & development activities in the North America region is expected to drive market growth as well. Moreover, increasing requirement for the bituminous membrane in waterproofing and landfill application is gaining traction among manufactures in the upcoming years. Increasing demand for polymers resins such as polypropylene, polyethylene high-density (PEHD), polyethylene low-density (PELD) and polyvinyl chloride in automobile, electrical and packaging sector is predicted to limit the raw material supply over the forecast period. Thus, limiting market growth to a certain extent. Yet, rising adoption of organic polymers based on growing concerns over greenhouse emissions and stringent laws & regulation by local governments are anticipated to fuel the development of innovative products in the near future.
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LDPE
or polyethylene low-density (PELD) is considered as one of the fastest growing
segment in the geomembrane market with substantial revenue generation in the
last couple of years. Growing popularity of the polyethylene low-density (PELD)
is attributed to lowered prices of the polymer in comparison with the
polyethylene high-density (PEHD) and other polymers. Water management is one of
the common application of the geo-membrane owing to the unique properties of
geo-synthetic products such as shielding agent and resistance to the migration
of water.
The
geomembrane industry is divided by region as North America, Europe,
Asia-Pacific, Latin America and Africa. North America has shown major growth in
recent years owing to the rise in the implementation of latest technologies in
the manufacturing sector, massive demand of shale gas in the U.S. and Canada,
increase in the availability of raw materials to geo-membrane manufacturers,
and existence of well-established infrastructure in the region. Asia-Pacific
region is predicted to hold major market share in the geomembrane market with
massive growth in forecast period. Countries such as India, China and Singapore
are leading the Asia-Pacific market with the easy availability of raw materials
to geo-membrane manufacturers, strong economic growth, and significant
investment by leading industry players considering potential growth
opportunities in the region.
The
key players in the geomembrane industry are CETCO Energy Services Company LLC,
GSE Holdings, Inc., Agru America, Inc., Solmax International, Inc., Officine
Maccaferri SpA, NAUE GmbH & Co. KG, Mineral Technologies, Inc., and Juta
& Company Ltd.
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