According to the Market Statsville Group (MSG), the global geomembrane market size is expected to grow from USD 2,303.4 million in 2021 to USD 3,482.5 million by 2030, at a CAGR of 4.7% from 2022 to 2030. The increased popularity of geosynthetics in growing regions such as APAC and LAMEA are driving the geomembrane market. Furthermore, as concerns about waste management have escalated, so has the demand for geomembrane. However, price volatility in raw materials is one of the key potential pitfalls to the geomembrane market’s expansion. Increasing infrastructure investment and improved awareness about water management, on the other hand, are likely to provide profitable prospects for the geomembrane market over the forecast period.
Global Geomembrane Market Definition
A geomembrane is an impermeable membrane made of a thin sheet of flexible polymeric materials. Water and other liquids can’t flow through it since it’s thick. In terms of flexibility and integrity, it outperforms other stiff materials. Many industries use geomembrane, including petrochemical, building, and waste water treatment.
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COVID–19 Impact on the Global Geomembrane Market
The price of geomembrane raw material fluctuated due to the falling price of petroleum products. The breakout of COVID-19 in China and its spread in many other nations around the world disrupted manufacturing activity in the industrial sector, which also hindered geomembrane production. There were various uncertainties concerning the COVID-19 pandemic, according to companies in the geomembrane sector, including the scale of scientific and health problems, the estimated duration of the pandemic, and the political and economic disruption it produced.
Scope of the Global Geomembrane Market
The study categorizes the geomembrane market based on raw material, technology, and application at the regional and global levels.
By Raw Material (Sales, USD Million, 2017–2030)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Ethylene Propylene Diene Monomer (EPDM)
- Polyvinyl Chloride (PVC)
- Polypropylene (PP)
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By Application (Sales, USD Million, 2017–2030)
- Water Management
- Waste Management
- Tunnel Liners & Civil Engineering
By Technology (Sales, USD Million, 2017–2030)
By Region (Sales, USD Million, 2017–2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia & New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
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Mining segment is projected to account for the largest market share by application
In 2021, the mining segment accounted for the largest market share in the global geomembrane market. Geomembranes have wide applications in the mining industry, including metal mining, non-metallic mining, and energy mining, due to their resilience in difficult climates. Heap leach pads, wastewater runoff ponds, tailing ponds, processed water containment, floating covers, soil remediation, secondary containment, and tailings cap enclosures are some of the most common applications of geomembranes in the mining sector.
APAC accounts for the highest CAGR during the forecast period
Globally, APAC is estimated to hold the highest CAGR in the global geomembrane market during the forecast period. This region’s high population increase and expanding urbanization and industrialization are driving the market growth. These factors are driving the region’s demand for waste and water management initiatives. Developing economies such as India, China, South Korea, and Australia are investing in various mining and infrastructure development projects, propelling the market forward.
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Key Market Players in the Global Geomembrane Market
The global geomembrane market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global geomembrane market are:
- Raven Industries
- Carlisle Construction Materials LLC
- PLASTIKA KRITIS
- Firestone Building Products
- The NAUE group