CHICAGO, Nov. 26, 2020 /PRNewswire/ -- According to the new market research report "Geomembranes Market by Type (HDPE, LDPE & LLDPE, PVC, EPDM, PP, Others), Manufacturing Process (Extrusion, Calendering, Others), Application (Mining, Waste Management, Water Management, Civil Construction, Others), and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market size is expected to grow from USD 2.1 billion in 2020 to USD 3.2 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 8.3% during the forecast period. The major factors driving the geomembranes market include high growth in the mining and construction industry with an increasing need for waste and water management activities.
The 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 the major types of geomembranes available in the market. HDPE are the largest and fastest-growing segment in terms of value. These membranes are cost-effective and are used widely in all regions. They are designed to be used in applications, which require excellent chemical & UV resistance at an affordable cost. Their robust performance in critical applications is expected to help their high growth during the forecast period.
The waste management application 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 the major applications in the geomembranes market. Of these, 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. They are ideally 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.
North America is expected to hold the largest market size in the global geomembranes market during the forecast period
Based on region, the geomembranes market has been segmented into APAC, Europe, North America, the Middle East & Africa, and South America. North America geomembranes market was the largest market in 2019. Market growth is primarily due to 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 well-established manufacturing and construction sector of the region.
Major vendors 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), Carthage Mills (US), Environmental Protection (US), Geofabrics (Australia), Geosynthetics Limited (UK), Ginegar Plastic Products (Israel), Global Synthetics (Australia), Layfield Group (Canada), CETCO (US), Nilex (Canada), SOTRAFA (Spain), SOPREMA (France), Texel Industries Limited (India), Titan Environmental Containment (Canada), and US Fabrics (US).
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets' flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.