Report Shows Government-Funded Capital Projects Drive Demand for Geosynthetics

Global Industry Analysts Inc. announced the release of a comprehensive global report on geosynthetics titled "Geosynthetics: A Global Strategic Business Report." The global market for geosynthetics is projected to reach 7.3 billion sq meters by 2020, driven by large-scale government-funded capital projects and increasing applications in the construction industry.

Geosynthetics are increasingly gaining prominence in the economic and environmental development of a country. Across various end-use sectors, geosynthetic products are being widely accepted as durable, eco-friendly and cost-effective engineering solutions to enhance efficiency of a structure and reduce its environmental impact, maintenance and repair costs. The market growth is largely driven by large-scale government funded capital projects to enhance civic amenities. Buoyed by the robust infrastructure development projects in developing countries and growing use of geosynthetics in the construction industry, the market is poised to register strong growth over the coming years. Additionally, the growing magnitude of waste management applications, rise in spending on construction activities, and stringent building codes and environmental regulations are expected to spur demand for geosynthetics worldwide.

Geotextiles, the permeable materials that are commonly used to reduce or prevent soil erosion, constitutes the largest market segment in the global geosynthetics market. The geotextiles market has been witnessing significant growth owing to the growing importance of geotextiles in infrastructure developments worldwide. The market growth is also contributed by the increasing use of automotive textiles, protective textiles, defense textiles and structural canopies. In addition, geotextiles are poised to penetrate the healthcare and medical industries. Road transportation infrastructure represents the largest end-use application area for geotextiles. Coir geotextiles have been gaining in prominence over the last few years. Geogrids, on the other hand, are witnessing increasing use in road and railway projects worldwide. The practice of employing geogrids in railway and road projects has become commonplace over the past few years, for solving design and construction problems. The growth in the global geosynthetics market is expected to be spearheaded by geomembranes.

The report shows that Asia-pacific represents the largest market worldwide with volume sales projected to grow at a compounded annual rate of 16.2% over the analysis period. Growth in the region comes from government regulations mandating the use of geosynthetics in all infrastructure development projects. The construction industry represents the largest end-use market for geosynthetics with growth led by the legislation of new environmental regulations such as sedimentary runoff restrictions at construction sites and various other measures including soil protection and erosion control in several Asian countries. The transportation end-use sector is also poised to grow, driven by growing acceptance of geosynthetic products in enhancing durability of roads, and in facilitating construction of erosion-preventing structures.

Source: Global Industry Analysts Inc.