Global geosynthetics market is expected to reach USD 27.08 billion by 2022, according to a new study by Grand View Research, Inc.
The Global Geosynthetics market is valued at $7.52 billion in 2014 and projected to grow at a compound annual growth rate (CAGR) of 16% reaching, $27.08 billion by 2022.
Construction industry growth in India, China and Middle East, mainly coming from infrastructure development, is expected to be a crucial driving factor for geosynthetics market growth.
Increasing application of geotechnical products for controlling seepage problems in building and irrigation projects is expected to have a favorable impact. Growing shale gas production in U.S. and Canada on account of increasing expenditure on hydraulic fracturing at domestic level may drive industry growth in the next future.
Middle East is expected to emerge as a manufacturing hub for geotechnical products in light of growing application in construction industry in the near future, due by the the growth of petrochemical production.
Further key findings from the study suggest:
- Global geosynthetic market size was 6. 124.0 million square meters in 2014 and is expected to reach above 9,000.0 million square meters by 2022, growing at a CAGR of 5.1% from 2015 to 2022.
- In terms of product, geotextiles market segment dominated the global geosynthetics industry with over 70% of volume in 2014. With a demand over 4,300.0 million square meters in 2014. Rising adoption of geotextiles in soil reinforcement and erosion control.
- Roads & pavements accounted for over 30% of global volume in 2014. Geogrids and geotextiles are incorporated for soil reinforcement and facilitating filtration during road construction.
Maccaferri has been amongst the main influencers in the use of innovative Geosynthetics in the construction industry; replacing traditional solutions with ones that are cheaper, quicker, more reliable and higher performing. Also reducing waste and the use of quarried materials.
Global footprint to offer innovative geosynthetic solutions worldwide; reinforcement, stabilisation, drainage, separation, filtration and protection.
At Maccaferri we offer a complete range of geosynthetic products able to fulfill all the clients needs for several applications and solutions:
Additionally we offer geosynthetic solutions for the building, industrial and sport markets through selected Maccaferri companies around the world.
For further information don’t hesitate to contact us