Geomembrane Market Size to Reach USD 3,241 Million by 2030

BEIJING, July 17, 2022 (GLOBE NEWSWIRE) — The Global Geomembrane Market size accounted for USD 2,098 Million in 2021 and is expected to reach USD 3,241 Million by 2030 at a considerable CAGR of 5.1% during the forecast period from 2022 to 2030.

Growing infrastructure improvements around the world, primarily associated with road improvement construction, are driving the geomembranes market. The primary drivers of the market are the increasing use of geomembranes in road or building construction and agriculture. A geomembrane is a synthetic polymer that forms an impermeable barrier to the movement of fluids, water, and other soluble materials. Geomembranes have been shown to be more effective at insulating than conventional products such as concrete, asphalt, and compressed clay. Geomembranes are also used to strengthen soil characteristics by keeping it together, as well as to extend the life of roadways. Geomembranes are linear sheets made from materials that are less permeable or impermeable. Geomembranes are available on the global market in a range of gauges and quality standards. They are widely used in applications such as rainwater harvesting, water containment, and foundations.

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Report Coverage:

Global Geomembrane Market Growth Aspects

The geomembranes market is expected to expand rapidly during the forecast period owing to increasing applications in the construction and mining sectors. Increased demand for geomembrane liners, particularly in the water and waste management industries, is expected to propel the geomembranes market forward. Growing infrastructure investment is also helping to drive market growth. The global geomembranes market is experiencing slow growth due to high raw material prices. Besides that, in order to gain revenue benefits, market participants should work on strengthening the productivity and efficiency of their operations. Major companies are now focusing on research and innovation, collaborative partnerships, and product innovations to establish their presence in the global geomembranes market.

The exponentially growing construction and mining industries, as well as increased demand for waste management and water management projects globally, are the primary factors driving the market growth. Geomembrane liners are commonly used to prevent fluid from seeping into dumpsites, preventing microbial degradation and decomposition of waste. Furthermore, large-scale infrastructure development globally, particularly in emerging economies, is boosting future growth. These membranes, for example, are used in highway construction, surface streets, and bridges because they keep the soil together under asphalt stopovers and increase the road’s overall life expectancy. Furthermore, the introduction of innovative product variants designed specifically to obstruct the movement of naturally occurring greenhouse gasses and innumerable dust particles is positively influencing the market growth. Other factors that are expected to drive demand include an increase in product acceptance by the oil and gas industry, the implementation of favorable regulatory policies that encourage environmental preservation, and a stronger reliance on research and innovation activities.

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Growing Demand for Water and Waste Management Will Drive the Geomembranes Market

Climate change and extreme weather events have been exacerbated by rising pollution levels around the world. Rapidly expanding economies, economic expansion, and fast urbanization have resulted in an increase in waste generation globally. To reduce pollution, waste management is in high demand. The increasing use of geomembranes for the removal of various pollutants wastes such as hazardous toxic substances will drive the global geomembranes market during the forecast period.

Geomembrane Market Regional Overview

North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global geomembrane market. North America is expected to account for the largest share during the forecast period due to the presence of key market players in this market sector, stringent standards for groundwater contamination and waste management, increasing federal focus on expanding existing products or services, and innovating geomembranes with different materials and compositions, and so on. The United States is expected to be North America’s largest geomembranes market. Furthermore, the widespread use of geomembranes for waste and toxic chemical containment, as well as leachate collection, is driving the North American market. The increased applicability of geomembranes in fish farming and for floating covers in irrigation canals, lakes, and ponds is expected to drive demand for geomembranes in North American water management applications.

Geomembrane Market Segmentation

The global geomembrane market has been segmented by Acumen Research and Consulting based on raw material, technology, and application. Based on the raw material, the market is divided into ethylene propylene diene monomer (EPDM), high density polyethylene (HDPE), low density polyethylene (LDPE), polypropylene (PP), polyvinyl chloride (PVC), and others. Based on the technology, the market separated into extrusion, calendering, and others. Based on application, the market is categorized into mining, water management, tunnel liners & civil engineering, waste management, and others.

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Geomembrane Market Players

Some key players covered global in the geomembrane industry are GSE Environmental, Solmax International Inc., Nilex, Inc., Bridgestone America, JUTA Ltd., PlastikaKritis S.A., Officine Maccaferri S.p.A, NAUE GmbH & Co., KG Geofabrics Australasia Pty Ltd., Carlisle SynTec Systems, Carthage Mils Erosion Control Company, Inc., and Anhui Huifeng New Synthetic Materials Co., Ltd.

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