South Asia's geosynthetic consumption is expected to reach 13% of global demand, reflecting regional growth in infrastructure and construction.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, October 4, 2023 /EINPresswire.com/ -- The South Asia geosynthetics market is forecast to experience a growth of 12.2% CAGR over the estimated time-period, as per FMI’s analysis. The industry’s size is predicted to reach a market value of US$ 1,576 million in 2023.

Geosynthetics are in high demand owing to accelerating projects for water containment and canaling in South Asia. Furthermore, developments of rail networks and road is also surging, thus generating the demand for geosynthetics. Geosynthetics are installed to absorb overlay stress, base reinforcement, subgrade stabilization, drainage facility, and filtration. With the help of geosynthetics, rail networks observe better stability and improved stress propagation.

Governments are also vigorously promoting the development of water containment projects owing to the constant demand for water the world over. Government bodies and private entities can also be seen significantly investing in infrastructural projects like airports, railways, roads, and ports. For this purpose, geosynthetics are being utilized due to their cost-effectiveness when it comes to pavement reinforcement, soil stabilization, and erosion control.

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Growing environmental concerns and regulations have led to the adoption of sustainable construction practices. Geosynthetics offers solutions for environmental protection, waste management, and erosion control in line with the region’s sustainability goals.

The adoption of geosynthetics might be hampered due to the dearth of skilled labor for the utilization of geosynthetic materials in infrastructural projects. Additionally, oscillating prices of raw materials utilized in geosynthetic materials are also expected to restrict the acceptance of geosynthetic materials.

Top Highlights from the FMI’s Analysis of the South Asia Geosynthetics Market:

FMI has spotted that the Australian market is expected to provide significant remunerative opportunities over the forecast period. The Australian market is estimated to offer a 6.7% market share in 2023.

India is expected to leave behind all the other South Asian markets for geosynthetics. As per FMI estimates, India is expected to register a CAGR of 9.6% from 2023 to 2033.

Based on product type, geotextile segment is expected to command a market share of 33.2% in 2023.
Polyester material is popularly used in the production of geosynthetics. In 2023, the segment is anticipated to acquire 27.6%.

“South Asia Geosynthetics is poised for significant growth in the coming years. The study highlights the region's increasing infrastructure development, environmental concerns, and the need for cost-effective solutions as key drivers for the geosynthetics market. With a focus on sustainable construction practices, South Asia is expected to witness a rising demand for geosynthetics across various applications, ranging from transportation and agriculture to environmental protection.” says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

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How are Leading Manufacturers Optimizing their Strategies to Boost Revenue Streams?

Leading players in the market are zeroing in on their efforts to boost their visibility in countries where construction activities are thriving. Top companies are strategizing tie-ups with regional distributors, vendors, and construction companies to advertise their products.

Market players are focusing on introducing distinct geosynthetic materials for certain applications. Many market players are emphasizing making investments to lower their carbon footprint and are deploying plastic waste to produce geosynthetic materials. Thus, creating a trend of circular economy.

Rivalries are competing based on innovation, product quality, price, customer service, and technical support. Key participants can gain a competitive edge in the market by investing in research and development, product portfolio, creating strategic partnerships, and concentrating on customer satisfaction.

Core vendors are focusing on collaborating with engineering consultants, government agencies, and contractors to advertise the utilization of geosynthetics in infrastructure projects.

In October 2021, Geofabrics Australasia Pty Ltd., Australasia and New Zealand’s largest producer of geosynthetic products announced that it had obtained Plascorp Holdings Pty Ltd. The latter is a leading manufacturer of industrial products like polyvinyl chloride (PVC) pipe, steel reinforcement, ducting, and hose.

Top Key Players

Hueskar Synthetic GmbH
GSE Environmental Inc.
Geofabrics Australasia Pty. Ltd.
Tensar International Corporation
Polyfabrics Australasia Pty. Ltd.
NAUE GmbH & Co. KG
Global synthetics pty Ltd.

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Geosynthetic Market Segmentation

By Product Type:

Geotextile
Geomembrane
Geogrid
Geonet
Geosynthetic clay liner
Geocomposite

By Material Type:

Polyethylene (HDPE/LDPE/Others)
Polypropylene (PP)
Polyester
Natural Fibers
Others (PVC, Synthetic rubber, etc)

By Primary Function:

Separation
Drainage & Filtration
Reinforcement
Containment

By Application Type:

Roads
Railways
Retaining wall
Dams, Riverbacks, Waterworks
Landfills and Erosion control

By Countries:

India
Association of Southeast Asian Nations
Australia and New Zealand
Rest of South Asia

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Have a Look at Related Research Reports of Chemicals & Materials

Geosynthetics Market Size: The global geosynthetics market Size is projected to grow year-on-year by 10.16%, reaching US$ 13.67 Billion in 2022, totaling US$ 26.89 Billion by 2029

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Future Market Insights, Inc.
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