The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s Geosynthetics Global Market Report 2023, the global geosynthetics market size grew from $11.64 billion in 2022 to $12.65 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The market size of the market is expected to grow to $16.98 billion in 2027 at a CAGR of 7.6%.

Asia-pacific held the largest geosynthetics market share, and was the fastest-growing region in 2022.

Geosynthetics Market Driver

The expansion of the construction industry contributes to the expansion of the geosynthetics market. The construction industry primarily involves the construction and maintenance of structures. Geosynthetics are thought to increase the quality of factory-made construction goods since they give a cost-effective solution for a variety of purposes such as separation, filtration, strengthening, drainage, waterproofing, erosion control, containment, and protection. For instance, according to the Indian Ministry of Statistics and Programme Implementation, in 2022, the construction sector is expected to grow in double digits at 10.7%. Therefore, the growth of the construction industry is expected to drive the growth of the market going forward.

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Key Geosynthetics Market Segments

1) By Type: Geotextiles, Geomembranes, Geogrids, Geofoam, Geonets, Other Types

2) By Material: Polyethylene, Polypropylene, Polyester, PVC, Other Materials

3) By Function: Separation, Filtration, Drainage, Reinforcement, Protection (Cushion), Barrier Or Containment, Erosion Control

4) By Application: Waste Management, Water Management, Transportation Infrastructure, Civil Construction, Other Applications

Geosynthetics Market Prominent Players

Major players in the market are Koninklijke Ten Cate B.V, GSE Holdings Inc., NAUE GmbH & Co. KG, Texas Spa, Fibertex Nonwovens A/S, HUESKER Synthetic GmbH, Tensar International Corporation, AGRU America Inc., Low & Bonar PLC, Groupe Solmax Inc., Officine Maccaferri SpA, Asahi Kasei Advance Corporation, Belton Industries Inc., and Propex Operating Company LLC.

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Prominent Geosynthetics Market Trend

Strategic partnerships and collaborations have emerged as a prominent trend in the geosynthetics sector. Major companies operating in the market are focusing on partnerships and collaborations to lead the market. For instance, in April 2022, Commercial Metals Co, a US-based steel and metal manufacturer acquired Tensar International Corp for an undisclosed amount. This acquisition advances CMC’s strategy to expand leadership in construction reinforcement with value-added products that complement the existing offerings. Tensar Corporation is a US-based manufacturer of proven geosynthetic products. Moreover, in May 2020, Freudenberg, a Germany-based diversified group of companies whose products include housewares and cleaning products, automobile parts, textiles, building materials, and telecommunications acquired Low & Bonar PLC for an undisclosed amount. With this acquisition, Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it will further expand. Low & Bonar PLC is a UK-based manufacturer of technical textiles.

The Geosynthetics Global Market Report 2023  provides comprehensive insights on the geosynthetics market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the geosynthetics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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