The global geosynthetics market is projected to reach USD 13.2 billion by 2026 from USD 9.9 billion in 2021, at a CAGR of 6.0% between 2021 and 2026. The rising demand for geosynthetics is majorly due to increasing investments on infrastructural developments, and rising concerns over waste and water management globally. Market growth is largely driven by the increasing population and urbanization, coupled with increasing industrial activities in the APAC and South America which is expected to offer opportunities for manufacturers during the forecast period. Developments in the field of technology, and growing demand for sustainable products are presenting opportunities for the geosynthetics market.
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During the forecast period, Asia Pacific is expected to be the fastest-growing region in the geosynthetics market. This is due to increased construction activity in the region, as well as increased demand for geosynthetics for a variety of applications including roads, railways, airports, and water and wastewater management. Furthermore, the region’s governments’ increasing emphasis on infrastructure development, such as roads and railways, is expected to fuel demand for geosynthetics. China and India are the region’s two largest geosynthetics markets. The region’s market is expected to be driven by rising demand for various products such as geotextiles, geogrids, geomembranes, and geonets. Furthermore, rising agricultural demand for geosynthetics in China, India, and other Asian countries is expected to drive the market.
The key players in the geosynthetics market include SOLMAX (Canada), NAUE GmbH & Co. KG (Germany), Officine Maccaferri Spa ( Italy), Berry Global Inc ( US), and Agru America, Inc ( US). The geosynthetics market report analyzes the key growth strategies, such as new product launches, expansions, joint ventures, agreements, partnerships, and mergers & acquisitions adopted by the leading market players between 2018 and 2021.
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SOLMAX is a leading player in the geosynthetics business. Its diversified product portfolio reduces its market risks. The company has a strong global presence with a sales presence in more than 100 countries.
It develops innovative products that meet the quality standards and environmental regulations. SOLMAX focuses on development of sustainable and performance products with high expenditure on R&D to provide effective and efficient products to its customers. Investment and acquisition are among the key business strategies used by the company to strengthen its market position.
Officine Maccaferri is an active player in geosynthetics business. It caters to the needs of customers by providing innovative and performance driven materials. The company is taking initiatives to enhance its operational performance and improve profitability. It focuses on improving performances within existing business by undertaking innovation activities across its segments. It also emphasizes on development of customer-focused solutions that satisfies critical end-use requirements, hence is successful to build long-lasting relations with its customers.
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