Geosynthetics market seen reaching $37.9 billion by 2030

A new Allied Market Research report projects the global geosynthetics market will more than triple from 2020 to 2030, led by infrastructure, water management and energy demand. Asia-Pacific held the biggest share in 2020 and is also forecast to grow the fastest.

Why it matters: - Demand for geosynthetics is rising across transportation, water, and energy projects because the materials are cost-effective and durable. - The market’s projected growth points to continued spending on infrastructure and sustainable construction, especially in developing economies.

What happened: - Allied Market Research said the global geosynthetics market was valued at $13.2 billion in 2020 and is projected to reach $37.9 billion by 2030. - The report puts the market on an 11.2% compound annual growth rate from 2021 to 2030. - The report covers geotextiles, geomembranes, geogrids, geocomposites, geonets and other products. - The report also breaks the market down by water and wastewater management, transportation infrastructure, civil construction and mining, energy and other end uses. - The report is titled "Geosynthetics Market by Type (Geotextiles, Geomembranes, Geogrids, Geocomposites, Geonets, and Others) and End-use Industry (Water/Wastewater Management, Transportation Infrastructure, Civil Construction and Mining, Energy, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." - The report offers a sample pages overview. - The report also points readers to purchase options and statistical data.

The details: - Geomembranes held nearly two-fifths of global revenue in 2020 and are expected to keep the lead through 2030. - Geomembranes are widely used in environmental protection, mining, water containment and infrastructure projects. - Geogrids are projected to be the fastest-growing type, with a 12.1% CAGR, driven by soil stabilization and road construction. - Water and wastewater management accounted for nearly two-fifths of global revenue in 2020. - Urbanization, population growth and the need for wastewater treatment infrastructure are supporting demand in water and wastewater management. - The energy segment is expected to grow at a 13.0% CAGR from 2021 to 2030. - Renewable energy projects are expected to increase demand for geosynthetics in containment, erosion control and foundation stabilization. - Asia-Pacific and North America accounted for the largest shares of the market in 2020. - Asia-Pacific contributed more than one-third of global revenue in 2020. - Asia-Pacific is forecast to post the fastest regional growth at a 13.3% CAGR through 2030. - China and India are key drivers of that regional growth because of urbanization, infrastructure buildout and construction activity.

Between the lines: - Petrochemical price swings remain a risk for manufacturers because they can raise input costs and slow expansion. - The forecast suggests the strongest demand will come from projects that need long-life materials and low maintenance costs. - The regional split shows Asia-Pacific is not just the biggest market now, but also the main growth engine over the next decade.

What's next: - The report expects infrastructure, wastewater, and renewable energy buildouts to keep lifting demand through 2030. - The fastest growth opportunities appear to be in geogrids, energy applications and Asia-Pacific markets. - Key companies in the market include Freudenberg Group, HUESKER Group, Maccaferri S.p.A., NAUE GmbH & Co. KG, PRS Geo-Technologies, Tensar International Corporation, Schouw & Co., AGRU, Solmax and TENAX Group.