Geomembrane Market Research, 2030
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.
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
Low Density Polyethylene (LDPE) is projected as the most lucrative segment.
Geomembrane Market, By Raw Material
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
Calendering is projected as the most lucrative segment.
Geomembrane Market, By Technology
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
Water Management is projected as the most lucrative segment.
Geomembrane Market, By Application
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
By Region
Asia-Pacific holds a dominant position in 2020 and is expected to grow at fastest growth rate during the forecast period.
Geomembrane Market, By Region
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.
Key Benefits For Stakeholders
- The geomembrane market forecast is studied from 2021 to 2030.
- The report provides an in-depth analysis of the market along with the current and future geomembrane market trends.
- This report highlights the key drivers, opportunities, and restraints of the geomembrane market along with the impact analysis during the forecast period.
- Porter’s five forces analysis helps analyze the potential of buyers & suppliers and the competitive scenario of the industry for strategy building.
- The qualitative data in this report aims on geomembrane market dynamics, market trends, and developments.
- A comprehensive analysis of the factors that drive and restrain the geomembrane market growth is provided.
- The geomembrane market size is provided in terms of volume and revenue.
Impact Of Covid-19 On The Geomembrane Market
- The novel Corona virus has affected majority of the sectors in the world, the oil & gas industry is also affected by the outbreak. The decreasing prices of petroleum products lead to volatility in the prices of raw material of geomembrane.
- The outbreak of COVID-19 in China and its spread across numerous countries around the world halted manufacturing activities of industrial sectors, which correspondingly hampered manufacturing of geomembrane as well.
- The COVID-19 pandemic has impacted people in over 200 countries around the world. The global economy is anticipated to decline by 3.0% in 2020, and has thrown the global economy into its worst slump since the Great Depression of the 1930s according to the International Monetary Fund (IMF).
- The COVID-19 pandemic is expected to have significant impacts on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, raw material procurement, inventory, sales, business and manufacturing operations, and others.
- As per companies operating in the geomembrane market, there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause.
Geomembrane Market Report Highlights
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Analyst Review
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.
Increased awareness regarding water management in developed countries is one of the factors boosting the geomembrane market growth.
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.
Atarfil, Solmax, Raven industries Inc are some of the most established players in the global geomembrane market.
Waste management application is projected to increase the demand for geomembrane market
By Raw material, technology and application are segment analyzed in geomembrane market.
Favorable regulations regarding implementation of water and waste water management are one of the main drivers of geomembrane market.
Water management is expected to drive the adoption of geomembrane.
The COVID-19 pandemic has created extreme volatility in the prices of geomembrane raw materials.
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