The market for geomembranes is anticipated to register a CAGR of more than 7% during the forecast period. Geomembranes, which are giant impermeable membranes made of reinforced polymeric materials, are synthetic membrane liners or barriers, used with any geotechnical engineering related material to control fluid (or gas) migration in a human-made project, structure, or system.
New York, March 02, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Geomembranes Market - Growth, Trends, COVID-19 Impact, and Forecasts (2020 - 2025)" - https://www.reportlinker.com/p06028454/?utm_source=GNW
Geomembranes can also be made from the impregnation of geotextiles with asphalt, elastomer, or polymer sprays, or as multilayered bitumen geocomposites.
- Growing use in lining applications and increased use of geomembrane in mining applications are augmenting the growth of the market.
- Increasing use of geosynthetic clay liner in lining systems and landfill is likely to hinder the market’s growth.
Key Market Trends
Water Management Application to Witness the Highest Potential
- The water management application dominated the global market.
- From ponds and canals to reservoirs, the use of geomembranes is everywhere. With more than 50,000 dams worldwide and a lot under construction, the use of geomembrane for water preservation is profound.
- The demand for geomembrane is also increasing in canal lining applications, due to the growing need for efficient usage of water and the remediate groundwater levels. Various countries in Asia-Pacific, such as China, India, and Uzbekistan, are generating the largest demand for geomembranes to be used in the canal lining application.
- Furthermore, the aquaculture industry is considered one of the fastest-growing food sectors, worldwide. According to the Food and Agriculture Organization of the United Nations, the value of the global fish trade crossed USD 150 billion, with the growing demand for salmon and shrimp.
- As the aquaculture market continues to expand, the use of pond liners, such as geomembrane, too will rise.
Germany to Dominate the European Region
- Geomembranes to be used in constructions are going to be supported by the well performing building and construction industry in the country. Germany witnessed a 15% increase in the new residential building permits, and this growth trend is expected to continue, owing to the rising demand for real estate, increasing population, increased job security, and low borrowing costs.
- The public investment increased by over 1.5% in the construction sector. The German State is intending to spend EUR 32,900 million on public infrastructure. This decision is inextricably connected with the substantial increase of the population in Germany.
- Hence, due to the booming housing market and real estate demand, the construction and building industry is expected to grow rapidly. This is expected to increase the demand for geomembranes, which is a cost-effective way to meet the requirements for fluid barriers, containments, and other similar applications.
- The increasing water treatment activities, primarily in the northern region of the country, is boosting the demand for geomembranes. Over the last decade, Germany has not only invested in domestic production of sewage systems, but it has also become an exporter of sewage technology.
- Additionally, the country’s waste management sector also contributes to sustainable production with high recycling and recovery rates, which in turn, helps to save raw materials and primary energy. Hence, we see a positive outlook for geomembranes from this segment.
The geomembranes market is expected to be partially fragmented, with the major players occupying small shares in the market. Key players in the geomembranes market include Solmax International Inc., Agru America Inc., Colorado Lining International Inc., and NaAUE GmbH & Co. KG, among others.
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