Geomembranes Market to Register Significant Growth of US$ 3.7 Billion by 2027- Exclusive Report by MarketsandMarkets™
The report "Geomembranes Market by Type (HDPE, LDPE & LLDPE, PVC, EPDM, PP), Manufacturing Process (Extrusion, Calendering), Application (Mining, Waste Management, Water Management, Civil Construction), and Geography - Global Forecast to 2027", size is expected to grow from USD 2.6 billion in 2022 to USD 3.7 billion by 2027, at a CAGR) of 7.6%. The growth in the market is attributed to high growth in the mining and construction industry with an increasing need for waste and water management activities.
By type HDPE is expected to hold the largest market size in the global geomembranes market during the forecast period
HDPE, LDPE & LLDPE, PVC, EPDM, and PP are some of the major types of geomembranes available in the market. HDPE is projected to be the largest and fastest-growing segment in terms of value during the forecast period . These membranes are cost-effective and are used widely in all regions. HDPE membranes possess excellent chemical & UV resistance and are available at an affordable cost. Their robust performance in critical applications will drive the growth during forecast period.
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By application, waste management is expected to grow at the highest CAGR in the global geomembranes market during the forecast period
Mining, waste management, water management, and civil construction are some of the major applications in the geomembranes market. Waste management is estimated to be the fastest-growing application during the forecast period. Geomembranes are essential for controlling the leakage of contaminated gas and liquid into the surrounding environment. These membranes are widely used in landfill caps, landfill covers, landfill liners, temporary landfill closures, animal waste containment, and sludge treatment application due to their ability to accommodate differential settlement in the waste pile.
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APAC is expected to have the largest market share during forecast period
By region, the geomembranes market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. The APAC geomembranes market was largest market in 2021. The growth in this region is primarily attributed to the enormous potential in mining, wastewater management, and infrastructural activities in the US, Canada, and Mexico. Europe North America was the second-largest market for geomembranes owing to the well-established manufacturing and construction sector of the region.
A few of the key players in the geomembranes market include Solmax (Canada), Raven Industries (US), AGRU (Austria), Carlisle Construction Materials LLC (US), Atarfil (Spain), PLASTIKA KRITIS (Greece), JUTA (Czech Republic), Maccaferri (Italy), Firestone Building Products (US), The NAUE group (Germany), Anhui Huifeng New Synthetic Materials (China).
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