Market Analysis
The global Geomembranes Market was valued at USD 2.7 billion in 2022 and is likely to expand at a 7% CAGR between 2023-2032, reveals the new Market Research Future (MRFR) report. Geomembranes or geomembrane liners, simply put, are impermeable membranes that are used along with cement, earth, or rocks for blocking fluid migration as well as waste management, especially in made-made structures. It has wide applications, including agricultural, bioenergy generation plants, mining, water management, landfills, and others.
Numerous factors are adding to the global geomembranes market demand. Such factors, as revealed by the latest MRFR report, include increasing concern for water conservation, rising use in landfill closures and municipal waste containment, increasing adoption in the mining industry, and growing technological advancements such as new arc equipment.
On the contrary, the volatile raw material cost may hamper the global geomembranes market growth over the forecast period.
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Market Segmentation
The Market Research Future Report provides an inclusive segmental analysis of the global geomembranes market based on application, technology, and resin type.
By resin type, the global geomembranes market is segmented into elastomers, thermoplastic polymers, and others. Thermoplastic polymers are again segmented into PP, VLDPE, PVC, LLPDE, HDPE, and others. Of these, HDPE geomembranes will lead the market over the forecast period. Owing to its alluring features such as inherent flexibility, high durability, ultraviolet protection, aging resistance against weather stress, and chemical resistance, it is widely used in water, waste, mining, landscaping, energy, and aquaculture.
By technology, the global geomembranes market is segmented into spread coating, calendaring, blown film, and others. Of these, the blown film will dominate the market over the forecast period as it is the most commonly used technique to manufacture every main type of geomembrane.
By application, the global geomembranes market is segmented into agricultural, bioenergy generation plants, mining, water management, landfills, and others. Water management is again segmented into pond liners, canal liners, and wastewater repository & treatment. Of these, the mining segment will have a major share in the market over the forecast period.
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Regional Analysis
By region, the global geomembranes market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will lead the market over the forecast period for stringent regulations related to wastewater treatment and groundwater pollution.
The global geomembranes market in Europe is predicted to hold the second-largest share over the forecast period for the large-scale mining activities coupled with strict regulations related to water pollution and water conservation.
The global geomembranes market in the APAC region is predicted to have lucrative growth over the forecast period for the rising construction activities in Japan, India, China, and other Southeast Asian economies. Besides, expanding mining activities are also adding market growth.
The global geomembranes market in the MEA is predicted to have stable growth over the forecast period for the high growth potential exhibited by leading economies such as South Africa, Turkey, the UAE, and Egypt due to the growing mining sector in such countries.
Key Players
Key players profiled in the geomembranes market report include GSE Environmental (US), NAUE GmbH & Co. KG (Germany), Owens Corning (US), Atarfil SL (Spain), Evoqua Water Technologies LLC (US), AGRU AMERICA, INC (US), Icopal company (UK), Officine Maccaferri Spa (Italy), GEOSER (Turkey), Plastika Kritis S.A. (Greece), GEOFABRICS AUSTRALASIA PTY LTD (Australia), and Geosynthetic Technology Ltd (UK).
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Industry News
March 2020: APS Elastomers, leading thermoplastic elastomer supplier, will soon move its operations to a larger facility in nearby Westland, MI. This expansion will enable the company to double its volume of different thermoplastic elastomers and also create a state-of-the-art product testing lab.
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