Geomembrane Market is projected to make over USD3.6 Billion by 2022
Geomembrane
Market Outlook 2016-2022:
Global Geomembrane Market is
expected to register $3.6 Billion by 2022, registering a CAGR of 7.8% during
the period 2016 - 2022. In 2015, extrusion technology segment held almost half
of the total market share.
Geomembranes create a barrier to movement of
water, fluids, and other soluble materials, and are specifically manufactured
using synthetic polymers that are impermeable in nature. These membranes have
proven to be far more effective in regards to impermeability than traditional
products such as concrete, asphalt, and compacted clay. They possess
significant characteristics such as superior elongation, flexibility, tear
& impact resistance, and water containment quality. Owing to these
properties, these membranes are widely used in solid waste containment, potable
water storage, mining, and water containment.
The growth of the global
geomembrane market is driven by rise in application of these membranes, owing
to the development in water management technologies, and the favorable
regulatory policies about waste management. This evolution in waste and water
management technologies is further expected to provide lucrative growth
opportunity to the market players in the near future. However, volatile raw
material prices are anticipated to hamper the market growth.
High-density polyethylene
(HDPE) is the leading raw material segment, owing to its enhanced elasticity
and flexibility, ease in installation, and cost and operational advantage. The
extrusion technology segment generated the highest revenue in 2015, with almost
half of the total market share, followed by the calendaring segment.
Geomembranes with desired thickness can be developed using the extrusion
manufacturing process.
The mining application
segment dominated the global market, with one-third share in 2015. In this
industry, these membranes are used in drainage system, barren & processing
ponds, surplus groundwater storage lagoons, caps & interlift covers, and
tailings storage.
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Key
findings of Geomembrane Market
- In 2015, North
America dominated the global market, with around one-third share, in terms
of revenue.
- Low-density
polyethylene (LDPE) segment is estimated to display the highest growth
rate, in terms of revenue, registering a CAGR of 8.2% from 2016 to 2022.
- Asia-Pacific is
projected to grow at the highest CAGR of 8.0%, in terms of volume.
- Water management is
projected to grow at the highest CAGR of 8.2%, in terms of revenue.
- The calendaring
technology segment shows the highest growth rate, in terms of revenue,
registering a CAGR of 8.0%.
In 2015, North America dominated the global market, owing to the
increase in adoption of geomembranes in numerous applications and favorable
environmental policies regarding waste management. Furthermore, Asia-Pacific is
projected to witness the highest CAGR, followed by Europe at a CAGR of 7.9%
from 2016 to 2022.
The major companies
profiled in the report include GSE Environmental LLC, Agru America Inc., Solmax
International Inc., Nilex Inc., Carthage Mills, NAUE GmbH & Co. KG,
Officine Maccaferri S.p.A., Geofabrics Australasia Private Limited, Carlisle
Syntec Systems, and Huifeng Geosynthetics.
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