Geomembrane Global Market Report 2022: Rapid Growth of the Construction and Mining Industry, Especially in Emerging Countries Fuels Sector

DUBLIN, April 10, 2023 /PRNewswire/ -- The "Geomembrane Market, By Raw Material, By Technology, By Application, and By Region Forecast to 2030" report has been added to  ResearchAndMarkets.com's offering.

The global market for geomembranes had a value of USD 2.19 billion in 2021 and is expected to experience a revenue Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period. The market growth is mainly attributed to the rapid expansion of the construction and mining industries, particularly in emerging nations.

Market Dynamics
Driver:

Rapid growth of the construction and mining industry, especially in emerging countries

Geomembranes made of HDPE are frequently used in mine restoration as liners to prevent waste from contaminating the environment. These liners possess a high tensile strength and can be coextruded with a conductive layer to facilitate leak detection and quality control during installation. Geomembrane lining is generally regarded as a dependable and secure technique for safeguarding the environment from hazardous industries. Heap leaching is now the preferred method of extracting minerals from low-grade ore in open pit mines, replacing heap mining. However, this technique necessitates the use of a strong liner that can withstand the immense weight and sharp edges of heaped material. Geomembrane liners collect the solution and prevent it from seeping into the ground before it is directed to a collection system by gravity. Geosynthetic liners made of high-density polyethylene are lightweight, resilient, and very flexible, resulting in lower shipping and installation costs. These are some of the key factors driving the growth of the geomembrane market in the emerging construction and mining industries of developing countries.

Restraint:

Fluctuating cost of raw material on account of volatility in crude oil prices

Geomembrane liners are often inflexible and weighty, resulting in high shipping costs. They also cannot be customized or prefabricated in a factory, which results in additional installation expenses for on-site assembly. Furthermore, their lack of flexibility makes installation challenging, and their susceptibility to stress cracking is a potential concern. The cost of raw materials for geomembrane is directly impacted by fluctuations in crude oil prices, which is one of the factors that influences the pricing of geomembrane. The thickness of geomembrane also has an impact on pricing, as more raw materials are required for thicker liners.

Key Takeaways

Raw Material Outlook

The global geomembrane market is segmented based on raw material, technology, and application. The raw material segment includes Ethylene Propylene Diene Monomer (EPDM), High-Density Polyethylene (HDPE), Reinforced Polyethylene (TRP), Low-Density Polyethylene (LDPE), Linear Low-Density Polyethylene (LLDPE), Polyvinyl Chloride (PVC), and others. In 2021, the HDPE segment contributed the largest revenue share due to its high UV/temperature resistance, low cost, durability, and chemical resistance. HDPE is also preferred for its thickness compared to other geomembranes. Although it is less flexible than LLDPE, it has a higher specific strength and can withstand higher temperatures, making it cost-effective. HDPE liners are commonly used in agricultural applications such as lining dams and ponds, as well as for secondary containment in chemical and fertilizer storage tanks.

Technology Outlook

The extrusion technology segment accounted for a significant revenue share in 2021, with polyolefin geomembranes such as HDPE and LLDPE being increasingly used in environmental protection, civil building, and water consumption.

Application Outlook

In terms of applications, the mining industry segment generated significant revenue in 2021 due to rising demand for lithium, with heap leach pads and tailing impoundments requiring an HDPE geomembrane lining system to protect the environment from dangerous chemical exposure.

Regional Outlook

During the forecast period, the Asia Pacific market is anticipated to have the largest revenue share in the global geomembrane market. This is due to the growth of industrialization and manufacturing plants, as well as increased awareness for waste and sewage management and pollution. Additionally, governments are implementing initiatives to promote a circular economy and offset carbon emissions, which are supported by major companies that use recycled content in the production of high-quality geosynthetic materials. For example, Geofabrics Australasia has increased its use of recycled content in its products since May 2020. In contrast, the North America market is projected to experience a significant growth rate due to the growing mining and construction industry, along with increasing research and development activities for innovative geomembrane products. Layfield Geosynthetics launched HydraNet, a premium range of Geonet and Geocomposites in March 2022, which is manufactured in North America. Lastly, the Europe market is expected to have steady revenue growth, driven by the high demand for lithium in the electric automobile industry, leading to increased mining activities, and the presence of major manufacturers in the region.

Key Topics Covered:

Chapter 1. Market Synopsis

Chapter 2. Executive Summary

Chapter 3. Indicative Metrics

Chapter 4. Geomembrane Market Segmentation & Impact Analysis
4.1. Geomembrane Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers' analysis
4.2.2.1. Rapid growth of the construction and mining industry, especially in emerging countries
4.2.2.2. Supporting regulations for waste and water management activities
4.2.2.3. Increasing expenditure for infrastructural developments
4.2.3. Market restraints analysis
4.2.3.1. Fluctuating costs of raw material on account of volatility in crude oil prices
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter's Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price Trend Analysis
4.9. Customer Mapping
4.10. COVID-19 Impact Analysis
4.11. Global Recession Influence

Chapter 5. Geomembrane Market By Raw Material Insights & Trends

Chapter 6. Geomembrane Market By Technology Insights & Trends

Chapter 7. Geomembrane Market By Application Insights & Trends

Chapter 8. Geomembrane Market Regional Outlook

Chapter 9. Competitive Landscape

Chapter 10. Company Profiles

Companies Mentioned

• AGRU Kunststofftechnik GmbH
• ATARFIL Geomembranes
• Naue GmbH & Co. KG
• Atricure Inc.
• Carthage Mills Inc.
• Solmax
• Plastika Kritis S.A.
• Carlisle SynTec Systems
• Juta Ltd.
• Officine Maccaferri Spa.

For more information about this report visit https://www.researchandmarkets.com/r/bo5w0y

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