Global Geomembrane Market Size Poised to Grow $3.5 Billion

March 20, 2023 09:32 ET | Source: Zion Market Research Zion Market Research

Alexandria, VA, March 20, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Geomembrane Market By Raw Material (LDPE, HDPE, EPDM, PVC, And Others), By Technology (Extrusion, Calendering, And Others), By Application (Waste Management, Water Management, Mining, Lining Systems, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. Geomembrane

Global Geomembrane Market Size Poised to Grow $3.5 Billion

“According to the latest research study, the demand of global Geomembrane Market size & share in terms of revenue was valued at USD 2.3 billion in 2022 and it is expected to surpass around USD 3.5 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.4% during the forecast period 2023 to 2030.”

What is Geomembrane? How big is the Geomembrane Industry?

Geomembrane is a type of synthetic membrane used in various geotechnical and environmental applications for containment and barrier systems. It is commonly made from high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyvinyl chloride (PVC), ethylene propylene diene monomer (EPDM), or other polymer materials.

Geomembranes are used for a wide range of applications, including landfill liners, mining heap leach pads, wastewater treatment ponds, agricultural water storage, and decorative water features. They are typically installed as a continuous barrier to prevent the migration of liquids or gases through the soil.

The global geomembrane industry has experienced significant growth over the past few years, with increasing demand for environmental protection and resource conservation. According to a report by Zion Market Research, the global geomembrane market size is poised to grow $3.5 billion by 2026, growing at a compound annual growth rate (CAGR) of 5.4% from 2021 to 2026. The growth is attributed to increasing infrastructure development, urbanization, and the rising demand for wastewater management solutions. The Asia-Pacific region is expected to dominate the market during the forecast period, owing to rapid industrialization and urbanization in countries such as China and India.

The global geomembrane market size was worth around USD 2.3 Billion in 2022 and is predicted to grow to around USD 3500 Million by 2030 with a CAGR of roughly 5.4% between 2023 and 2030.

Geomembranes are artificial membrane liners or barriers that are used to regulate fluid migration in a project, structure, or system that was created by humans. They are created from relatively thin continuous polymeric strips, which can be manufactured by spraying asphalt, elastomer, or polymer onto geotextiles. This implies that there are countless uses for them in geotechnical engineering and other industrial applications. Along with the waste sector, geomembranes are used in transportation, hydraulic, environmental, and oil and gas applications.

The most prevalent variety is continuous polymeric strips. The seams of bigger geomembranes are thermally or chemically melted together to increase strength and durability. Since the geomembrane's size is entirely customizable, it can be as small as a backyard fish pond or as big as a football field, as needed.

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Market Growth Dynamics: Growth Factors

The primary drivers of the global geomembrane market's expansion are the expanding mining and construction sectors as well as the rising demand for waste management systems around the world. Geomembrane liners are frequently used to seal off landfills so that water cannot leak in and further stop the decomposition and biodegradation of the waste. Significant infrastructure development worldwide, particularly in developing countries, is also boosting market expansion.

For instance, these membranes are used to bind the soil together beneath asphalt layovers and extend the lifespan of roadways when constructing roads, highways, and bridges. Additionally, the development of novel product variations made specially to stop the flow of various volatile organic compounds and naturally occurring gases are encouraging geomembrane industry expansion. The mining industry's growing product adoption, the adoption of beneficial government policies encouraging environmental conservation, and increased emphasis on research and development (R&D) activities are all expected to fuel market growth. However, the volatility in the price of raw materials is expected to impede market growth over the forecast period.

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The global geomembrane market is segmented based on raw material, technology, application, and region.

Based on the raw material, the global market is bifurcated into LDPE, HDPE, EPDM, PVC, and others. The LDPE segment is expected to hold a significant market share over the forecast period. The segment growth is attributed to its properties such as low density, excellent transparency, softness, electrical insulation, chemical stability, processability, and resistance to low temperatures. Moreover, It continues to have excellent mechanical strength, more flexibility, and elasticity than HDPE geomembrane and is simple to construct. Furthermore, it possesses a non-toxic, flat, smooth surface that resists corrosion, a high tensile strength, an elegant shape, and is lightweight. Pools, canals, embankments, fields, landfills, tunnel waterproofing, and seepage control are all possible with the LDPE geomembrane.

Based on the technology, the global geomembrane industry is segmented into extrusion, calendering, and others. The calendering technology segment is growing at a substantial rate over the forecast period. This technique is typically used to process geomembranes made of rubber and polymeric materials. This technology is anticipated to have significant growth prospects because it is so widely used. Due to strict federal regulation regarding the use of these materials in the U.S., it is anticipated that the demand for calendered geomembrane in North America will continue to rise steadily over the forecast period. Additionally, it is predicted that these laws will enable the product to be used in waste management applications.

Based on the application, the global geomembrane market is segmented into waste management, water management, mining, lining systems, and others. The mining segment is expected to hold the largest revenue share during the forecast period. Since geomembranes have exceptional functionalities like high tear and puncture resistance, low permeability, a wide temperature range, and outstanding chemical resistance, they are being quickly adopted in the mining industry. In the mining industry, a geomembrane is used to stop leachate leaks where metal dissolution occurs.

The global Geomembrane market is segmented as follows:

Browse the full “Geomembrane Market By Raw Material (LDPE, HDPE, EPDM, PVC, And Others), By Technology (Extrusion, Calendering, And Others), By Application (Waste Management, Water Management, Mining, Lining Systems, And Others), And By Region - Global, And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030”- Report at https://www.zionmarketresearch.com/report/geomembrane-market

Some of the main competitors dominating the global Geomembrane market include -

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The Asia Pacific is expected to hold the largest revenue share in the global geomembrane market over the forecast period. This can be ascribed to increasing industrialization and increased knowledge of the advantages of polymer-based geomembrane in the mining and construction sectors in developing nations like China and India. On the other hand, North America is expected to hold a substantial market share during the forecast period. PVC geomembrane should be more widely used in heap leach mining applications because of the strong presence of the mining sector in Mexico for silver extraction. In addition, it is anticipated that the market will be driven by rising shale gas output as well as a focus on waste management applications.

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Rapid growth in the construction and mining industry provides a lucrative opportunity

As part of mine restoration, HDPE liners are used to seal the mine to prevent waste from polluting the ecosystem. High tensile strength HDPE geomembrane liners can be coextruded with electrical layers to help with quality assurance and leak detection during installation.

Generally, geomembrane lining is a safe and dependable way to shield the environment from risky industries. The preferred technique for removing minerals from low-grade rock from open pit mines has supplanted heap mining. However, this method requires the use of a robust container that can withstand the heavy weight and jagged edges of the piled-up material. Before the solution is gravity directed to a collecting device, a geomembrane liner collects it and stops it from migrating into the earth.

One of the main factors propelling the growth of the global geomembrane market in the expanding construction and mining industry in emerging countries is the lightweight, tough, and incredibly flexible geosynthetic liners made of high-density polyethylene. These features also reduce shipping and installation costs.

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