Geosynthetics Market to Reach Valuation of US$ 26.89 Billion, Globally, by 2029 at 10.1% CAGR

Oct 29, 2023

As per Future Market Insights’ latest industry analysis, the global geosynthetics market size is anticipated to grow with a robust CAGR of 10.1% with a year-on-year growth of 10.16% reaching US$ 13.67 Billion in 2022 and surpassing US$ 26.89 Billion by 2029. There is a surge in the adoption of geosynthetics in a large range of applications such as separation, filtration, and reinforcement. The historical analysis of the geosynthetics market registered a CAGR of 9.0% from 2014 to 2021.

As per FMI analysis, in the first half of 2022, the BPS points in the growth outlook observed in the geosynthetics market reflect a spike of 20 units as compared to the estimated overall half. However, as compared to the first half of 2021, the market is expected to gain a spike of 70 BPS.

On the basis of regional analysis, Asia Pacific Excluding Japan (APEJ) is anticipated to continue the most lucrative geosynthetics market, garnering around 36.1% of the total market share in 2022. Growth in the market is anticipated to be fueled by expanding the construction industry, increasing government support, and the presence of leading geosynthetics market players.

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Key Takeaways

Competitive Landscape

The global geosynthetics market is considered highly competitive in nature due to the presence of leading market players who are focused on continuously expanding and upgrading their product portfolios. In addition to that, they have also adopted several organic and inorganic growth strategies such as partnerships, collaborations, price reduction, acquisitions, and establishment of new facilities in order to gain a competitive edge in the market.

Key Companies Profiled

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More Insights into the Geosynthetics Market

According to FMI studies, China is expected to dominate the global geosynthetics market by accounting for about 36.1% of the total market share in 2022. Surging growth in the country is fueled by the rapid expansion of end-use industries, the availability of low-cost products, the heavy presence of leading market players, and the increasing need for preventing soil erosion.

China is expected to exhibit lucrative growth opportunities as it is one of the leading producers and consumers of geosynthetics in the world. Growth in the public infrastructure sector in the country will propel sales in the market over the forecast period.

Geosynthetics Market by Category

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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