Geocells Market Worth 588.9 Million USD by 2022
PUNE, India, April 25, 2018 /PRNewswire/ --
The report "Geocells Market by Raw Material (High-density Polyethylene, Polypropylene), Design Type (Perforated, and Non-Perforated), Application (Load Support, Channel & Slope Protection, Retention of Walls), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 400.3 Million in 2017 and is projected to reach USD 588.9 Million by 2022, at a CAGR of 8.0% from 2017 to 2022. This growth can be attributed to the increased demand for geocells in infrastructural activities across the globe. In addition, cost savings in road construction and maintenance is further anticipated to drive the consumption of geocells.
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The HDPE segment is the fastest-growing raw material segment of the geocells market.
Based on raw material, the HDPE raw material segment of the Geocells Market is projected to grow at the highest CAGR during the forecast period. This raw material has garnered industry-wide acceptance for their performance and outstanding characteristics such as chemical resistance, aging resistance from powerful stresses of weather, ultraviolet protection, high durability, and inherent flexibility. Geocells are used to stabilize and reinforce soils in the construction of roads, parking lots, and building foundations.
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The load support application segment is estimated to account the largest share of the geocells market in 2017.
Based on application, the load support segment is estimated to account for the largest share of the geocells market in 2017, owing to its large sub-applications under the load support segment. Geocells are used in highways, paved and unpaved roads, temporary work surfaces, conventional and heavy-duty pavements, and access roads over coastal marshes, container yards, quarry side structures, platforms, and truck terminals. The usage of geocells also provides a structure or an area with improved road surface quality, increases the safety of the roads, and reduces the frequency of costly and disruptive road maintenance.
North America is the largest market for geocells.
The North America region is estimated to be the largest market for geocells, in terms of volume, in 2017. The US is a key consumer of geocells in the North America region, owing to its large construction industry. The increased use of geocells in infrastructural activities in the region has contributed to the growth of the North America geocells market. New product launches & developments and expansions are the key growth strategies adopted by the leading manufacturers of geocells in the North America region.
Strata Systems (US), PRS Geo-Technologies (UK), Presto Geosystems (US), Koninklijke Ten Cate B.V. (Netherlands), TMP Geosynthetics (China), Terram Geosynthetics-now part of Berry Plastics (UK), and BOSTD Geosynthetics Qingdao (China) are the key players operating in the geocells market
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