Report Code: A01668 | Pages: 299 | Feb 2022 | 11633 Views | ||
Author(s) : Sushant M, Amit N , Eswara P | Tables: 210 | Charts: 55 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Geomembrane Market
Request Now !The geomembrane market was valued at $2.2 billion in 2020, and is projected to reach $3.7 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
The outbreak of COVID-19 has led to volatility in the prices of crude oil which has significantly hampered the geomembrane market. As geomembrane is manufactured using crude oil derivatives such as low density polyethylene, high density polyethylene etc.
Geomembrane is a thin sheet of flexible polymeric materials that functions as an impermeable membrane. It provides a great barrier to the flow of water and other liquids. It outperforms other rigid materials in terms of flexibility and integrity. Geomembrane is used in many industries such as petrochemical, construction, and waste water treatment.
The geomembrane market is driven by factors such as increased popularity of geosynthetics in developing regions such as APAC and LAMEA. In addition, the increased concerns regarding waste management have increased the demand for geomembrane. However, the volatility in the prices of raw materials is one of the major restraining factors hindering the geomembrane market growth. On the contrary, the increasing infrastructural spending and rising awareness regarding water management is expected to offer lucrative opportunities to the geomembrane market during the forecast period.
The geomembrane market is segmented on the basis of raw material, technology, application, and region. By raw material, the geomembrane market is divided into high density polyethylene (HDPE), low density polyethylene (LDPE), ethylene propylene diene monomer (EPDM), polyvinyl chloride (PVC), polypropylene (PP), and others. On the basis of technology, it is divided into extrusion, calendering, and others. On the basis of application, the geomembrane market is studied across water management, waste management, mining, tunnel liners & civil engineering, and others. Region wise, the geomembrane market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The geomembrane market share is analyzed across all region and segments.
The geomembrane market analysis covers in-depth information of the major industry participants. Some of the major players in the geomembrane market include Agru America Inc., Atarfil, Carlisle SynTec systems, Carthage mills Inc., Naue GmbH & co, Solmax, Raven industries Inc, Juta, Plastika kritis, and Officine Maccaferri SPA
Other players in the value chain of the geomembrane market include Dow chemical company, Huesker synthetic GmbH, Low and Boner PLC, Propex operating company LLC, Royal ten cate Inc, Strata systems Inc, Tenax, Tensar corporation, Ace geosynthetics, and Asahi kasei corporation.
By raw material, the low density polyethylene (HDPE) segment is expected to grow at fastest growth rate during the forecast period. Low density polyethylene (LDPE) geomembrane is ideal for structural application, owing to its superior tensile properties, owing to which LDPE as raw material for geomembrane manufacturing is witnessing significant growth. Moreover, increase in usage of LDPE, where flexibility and durability are key factors, such as in canal linings and packaging, boosts demand for LDPE as a raw material.
By technology, the calendering is expected to grow at a fastest growth rate during the forecast period. It offers excellent efficiency and ideal product specifications. This process also assures development for optimum physical properties, owing to high shear of the process and assures uniformity of the melt.
By application, the water management is expected to be the fastest growing application for geomembrane. Geomembrane is used in ponds, canals, reservoirs, and dams. Use of geomembrane for water preservation is expected to grow in the future. Furthermore, as concerns about water conservation grow, geomembrane demand is predicted to grow at a high rate during the forecast period
Region wise, Asia-Pacific is the fastest growing region, owing to presence of emerging countries such as China, India, Japan, and others in the region, where industrial activities are expected to boom in the coming years. This factor will correspondingly surge the adoption of geomembrane during the forecast period. North America has garnered highest share in the market in 2019, owing to rise in stringent regulation for waste and water management across sectors such as oil & gas, construction, and others.
Geomembrane Market Report Highlights
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According to perspective of CXOs of leading companies, favorable regulations related to implementation of waste management, rapid growth in the industrial sector in developing economies, and rise in awareness toward environmental protection drive demand for geomembrane. However, volatile cost of raw material is expected to hamper the market growth. Geomembranes are widely used to overcome groundwater pollution and water & waste water pollution. Moreover, improvement in water management technologies creates opportunities for the existing market players, which propel the market growth.
A. Increased awareness regarding water management in developed countries is one of the factors boosting the geomembrane market growth.
A. The geomembrane market was valued at $2.2 billion in 2020, and is projected to reach $3.7 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.
A. Atarfil, Solmax, Raven industries Inc are some of the most established players in the global geomembrane market.
A. Waste management application is projected to increase the demand for geomembrane market
A. By Raw material, technology and application are segment analyzed in geomembrane market.
A. Favorable regulations regarding implementation of water and waste water management are one of the main drivers of geomembrane market.
A. Water management is expected to drive the adoption of geomembrane.
A. The COVID-19 pandemic has created extreme volatility in the prices of geomembrane raw materials.
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