The Geomembrane Market is forecasted to grow from USD 2.06 billion in 2018 to USD 4.45 billion by 2026, at a CAGR of 9.5%, during the forecast period. The market is primarily driven by the growing usage of geomembranes in waste management applications and a strict regulatory framework for environmental protection in several applications such as oil & gas, agriculture, concrete protection and industrial applications.
A geomembrane is a category of a geosynthetic that has very low permeability and is used in geotechnical engineering to control fluid or gas migration in a structure or a system like solid waste containment, water containment and mining. It is usually made using thin, continuous polymeric sheets, but can also be made using asphalt, elastomers, or polymeric sprays.
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The main players involved in this industry are GSE Environmental LLC (US), Agru America Inc. (US), Solmax International Inc. (Canada), Nilex Inc. (Canada), Carthage Mills (US), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A. (Italy), Geofabrics Australasia Private Limited (Australia), Carlisle Syntec Systems (US), Huifeng Geosynthetics (China), Raven Engineered Films (US), and others.
The market for geomembranes has been growing alongside the increasing environmental regulations against land and water contamination. However, the unsafe nature of some of the materials involved may hamper the growth of the market.
The materials and chemicals sector is significantly gaining traction in the last few years owing to high demand for raw materials and chemicals in various industrial sectors such as food and beverages, paper, medical and healthcare, biotechnology and pharmaceutical, manufacturing among others. Global Geomembrane market revenue growth is primarily driven by factors such as rising focus by major companies on product/service expansion into new and untapped domestic and international markets, rising investments in strategic agreements and mergers, and rapidly growing competition in the market. Growing awareness about energy efficiency and green energy, rising need for reducing carbon emission and rising adoption of biodigerable products is supporting growth of the global Geomembrane market. In addition, rising investments in research and development activities, and rising per capita income are further fueling global market growth.
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Further key findings from the report suggest
- The Geomembrane Market is forecasted to grow from USD 2.06 billion in 2018 to USD 4.45 billion by 2026, at a CAGR of 9.5%, during the forecast period. The market is primarily driven by the growing usage of geomembranes in waste management applications and a strict regulatory framework for environmental protection in several applications such as oil & gas, agriculture, concrete protection and industrial applications.
- The market for high density polyethylene (HDPE) is expected to grow the largest at USD 1.24 billion in 2026, at a CAGR of 9.2% during the forecast period. HDPE is a polyethylene thermoplastic made from petroleum. It provides excellent strength due to its density, very durable and has a high UV and chemical resistance. It can be recycled and repurposed, hence making it valuable and eco-friendly. Due to this, they have the highest market volume. They are usually used as dam, reservoir and landfill lining.
- The market for waste management is estimated to hold the largest market and is expected to reach USD 1.64 billion in 2026, at a CAGR of 10.2% during the forecast period. Due to the high chemical resistance and durability of HDPEs and PVCs, they are used in waste management, as landfill lining to prevent any leaching of hazardous materials into the soil or groundwater for more than 30 years. The resistance to wear and tear of geomembranes makes them ideal for water management, as well. They are usually used to line dams, reservoirs, water collectors and even in stormwater ponds to prevent flooding and loss of water.
- The market for North America is expected to reach USD 1.16 billion in 2026, at a CAGR of 10.1% during the forecast period. North America has the highest value and volume in the market owing to the increase in environmental pollution and formulation of environmental policies by regulatory agencies.
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Segments covered in the report:
Reports and Data have segmented the market on the basis of raw material, application and regional analysis.
Raw Material (Million Square Meter) (Revenue, USD Million; 2016-2026)
- High Density Polyethylene (HDPE)
- Low Density Polyethylene (LDPE)
- Ethylene Propylene Diene Monomer (EPDM)
- Polyvinyl Chloride (PVC)
Application (Million Square Meter) (Revenue, USD Million; 2016-2026)
- Waste management
- Water management
- Tunnels & Civil Construction
Region (Million Square Meter) (Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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