Geomembranes are plastic sheet barriers or membrane liners used to regulate fluid flow in a man-made structure or device. Geotechnical engineering applications make extensive use of them. Geomembranes are thin, continuous polymeric sheets that can also be created by infusing geotextiles with materials like asphalt, polymeric sprays, or elastomers. Geomembranes' permeability is superior to that of most of their competitors, such as concrete, compacted cement, and asphalt, which is why they are commonly used in a variety of industries.
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According to NIIR PROJECT CONSULTANCY SERVICES (NPCS) the global geomembrane market stood at USD 1,750.7 Million in 2018 and is projected to expand at a healthy CAGR of 5.2% over the forecast period.
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Application Discernments: -
In 2018, HPDE was the most widely used raw material, accounting for 32.3 percent of the global geomembrane market by volume. The demand for HDPE as a raw material for production is expected to increase due to its ease of installation and good thermal stability during exposure. HDPE is often used by manufacturers in this industry because it is one of the least costly raw materials as opposed to other engineering polymers such as PVC and EPDM. Increased use of HPDE and PVC as raw materials for geomembrane manufacturing in key markets such as Germany and the United Kingdom is expected to boost HDPE use over the next seven years.
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Growing level of environmental awareness: -
One of the major drivers of the geomembranes market is the growing degree of environmental awareness. At a low cost, geomembranes can effectively prevent the leakage of poisonous fluids, toxic gases, and other contaminants, reducing environmental damage. It is commonly used in a variety of landfill sites around the world due to its stability and protection when in operation. For nearly two decades, geomembranes, especially HDPE geomembranes, have been used as landfill bottom liners. A geomembrane liner protects groundwater, while a geomembrane cap traps landfill gas and keeps precipitation from turning into leachate.
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Increased mining activities in APAC: -
Metal and mineral demand has risen in recent years as a result of rapid industrialization and urbanisation in key countries such as India. Other APAC countries that have benefited from large mining investments. The mining industry in APAC is also experiencing rapid growth. During the forecast era, APAC is projected to be the fastest-growing sector. Between 2020 and 2025, it is expected to develop at a rate of 9.6%. It has become a favoured location for large global mining companies to invest in mining. One of the largest users of geomembranes is the mining industry. Geomembranes are used to catch and recycle toxic chemicals used in solution to treat ponds and secondary containment systems. During the forecast era, this is expected to drive the geomembranes market.
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Opportunity: Increasing spending on infrastructure: -
Water supply and treatment plants, highways, tunnels, dams, railways, airports, bridges, telecommunication networks, schools, and hospitals are all examples of infrastructure growth. According to the Confederation of International Contractors' Associations (CICA), residential and non-residential infrastructure production would increase by 85 percent in volume by 2030, reaching USD 15.5 trillion.
Geomembranes have a wide range of uses in the building industry. The market would benefit from geomembranes' long shelf life as well as their strong physical and mechanical properties. As a result, the infrastructure advancements are expected to boost the geomembranes market during the forecast period.
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Global Market: -
During the forecast period, the global geomembranes market is projected to expand from USD 2.1 billion in 2020 to USD 3.2 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 8.3 percent. The increased mining activities in APAC and South America, the growing concerns about waste and water management activities, and the increased spending on infrastructure construction are all contributing to this high growth. GSE Holdings, CETCO, Solmax, Officine Maccaferri, Agru America, NAUE, and Juta are some of the major market players.
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Conclusion: -
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