Geomembranes Market worth UD 3.26 billion by 2020
According to the new Market and Market market research report “Geomembrane Market by Raw Material (HDPE, LDPE, PVC, PP, EPDM, Others), by Manufacturing Method (Extrusion, Calendering, and Others), by Application (Waste Management, Water Management, Mining, Tunnel Liners, and Others), by Region (NA, Europe, Asia-Pacific, and RoW) – Global Forecast to 2020”, is projected to witness a CAGR of 10.9% between 2015 and 2020 to reach a market size of USD 3.26 Billion by 2020
Some of the prominent players in the Geomembranes Market
• Solmax International Inc. (Canada)
• Agru America Inc. (U.S.)
• NAUE GmbH & Co. KG (Germany)
• GSE Environmental LLC (U.S.)
• Officine Maccaferri SpA (Italy)
North America projected to account for the largest market share between 2015 and 2020
The geomembranes market in North America is well-established. Stringent environmental regulations and favorable economic conditions are responsible for the dominance of the global market by North America. The U.S. accounts for the largest market share of the region’s market, while Canada and Mexico are projected to witness higher growth in during the forecast period.
High density polyethylene geomembranes projected to dominate the market during forecast period
HDPE is projected to remain as the dominant material used in the manufacturing geomembranes during the forecast period. The market players use HDPE on a large scale as it is cost-effective in nature. Raw materials such as PVC, polypropylene, butyl rubber, and ethylene interpolymer alloy monomer (EIA) are projected to witness the highest CAGR during the forecast period.
Water management application projected to witness the highest CAGR during forecast period
The geomembranes market in the water management application is projected to witness the highest CAGR between 2015 and 2020. The rising necessity for conservation of fresh water sources and preventing high water pollution levels is expected to increase the demand for geomembranes. The use of geomembranes in irrigation canals, dams, ponds, and others is expected to drive the growth of the market during the forecast period.
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