CLEVELAND, July 20, 2020 /PRNewswire/ -- Through 2024, global demand for geosynthetics is forecast to rise 4.1% annually to 8.2 billion square meters, driven in part by rising government investment in transportation infrastructure, the largest market for geosynthetics:
- In 2019, the transportation infrastructure market accounted for 32% of global geosynthetics demand in area terms and will remain the leading application through 2024.
- Geosynthetics perform a variety of functions in the transportation infrastructure market, including ground stabilization and reinforcement, drainage, filtration, erosion control, and separation.
- End uses include paved (both asphalt and concrete) and unpaved roads, bridges, railways, and airport runways.
The other leading markets for geosynthetics are, respectively, building construction, landfills/waste management, liquid containment, and mining.
Is public infrastructure investment a key to post-COVID economic recovery?
In China – the world's largest geosynthetics market – heavy public spending on transportation infrastructure has reportedly enabled the country's economy to make a fast (albeit still-incomplete) recovery from April's pandemic-induced lows.
Whether governments in the US and Western Europe will employ similar rebound strategies remains to be seen as outbreaks remain ongoing in these markets, particularly in the US, where new cases continue to surge. As the pandemic is brought under control, however, public infrastructure investment will likely be a key component of economic recovery legislation.
Geosynthetics used in transportation infrastructure applications
Though a number of geosynthetics find use in transportation infrastructure applications, geotextiles dominate due to their low cost, consistent performance qualities, and ease of installation. Geotextiles are commonly used separation applications and increasingly in other transportation infrastructure applications, such as reinforcement, drainage, and erosion control. Geotextiles are also commonly used as filters in the construction of underdrains or as subsurface drainage systems under or near roads.
Other geosynthetics such as geogrids, geomembranes, geonets, geosynthetic clay liners (GCLs), geofoams, and erosion control blankets can be used with geotextiles to provide enhanced reinforcement, drainage, and the like. Greater use of these materials is often at the expense of alternative geotechnical products, including soil and aggregates.
Want to learn more?
Global Geosynthetics is now available from The Freedonia Group. This study analyzes the global market for geosynthetics, including geotextiles, geomembranes, geogrids, geonets, and other products such as geocells, geofoams, geosynthetic clay liners, etc. Historical data for 2009, 2014, and 2019 and forecasts for 2024 and 2029 are provided for demand in million square meters by product, market, and regional and national market. In-depth coverage of key market trends and a comprehensive corporate analysis including market share by company are also provided.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group
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