Geomembrane Market Expected to Reach $3.7 Billion by 2030-Allied Market Research

According to a new report published by Allied Market Research titled, “Geomembrane Market by Raw Material, Technology and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The geomembrane market size was valued at $2.2 billion in 2020, and is projected to reach $3.7 billion by 2030, growing at a CAGR of 5.1% from 2021 to 2030.

Geomembrane are made of synthetic polymers that are impermeable in nature and create a barrier to the movement of water, fluids, and other soluble materials. Traditional goods such as concrete, asphalt, and compacted clay have shown to be significantly less successful in terms of impermeability than these membranes. They have important properties such as exceptional elasticity, flexibility, tear and impact resistance, and water confinement. Geomembrane are frequently used in solid waste containment, potable water storage, mining, and water containment, owing to the abovementioned properties.

The geomembrane market growth is driven by rise in application of these membranes, owing to development in water management technologies and favorable regulatory policies about waste management. Evolution in waste and water management technologies is further expected to provide lucrative growth opportunities to the market players in the future. However, volatile raw material prices are anticipated to hamper the geomembrane market. 

The geomembrane market is segmented on the basis of raw material, technology, application and region. By raw material, the geomembrane market is segmented into high density polyethylene (HDPE), low density polyethylene (LDPE), ethylene propylene diene monomer (EPDM), polyvinyl chloride (PVC), polypropylene (PP) and others. By technology, it is classified into extrusion, calendaring and others. Water management, waste management, mining, tunnel liners & civil engineering and others are the application covered in this report. On the basis of region, the geomembrane market is studied across North America, Europe, Asia-Pacific, and LAMEA. The geomembrane market share is analyzed across all regions and segments.

High-density polyethylene (HDPE) is the leading raw material segment, owing to its enhanced elasticity and flexibility, ease in installation, and cost and operational advantage. 

The extrusion technology segment generated the highest revenue in 2020, with almost 47.6% of the total market share, followed by the calendaring segment. Geomembranes with desired thickness and high mechanical properties can be developed using the extrusion manufacturing process.

In addition, low cost and flexibility of operation, continuous process, high production volume and high quality of finished products is obtained by extrusion manufacturing process.

The mining application segment dominated the geomembrane market, with 32.4% share in 2020. In the mining industry, geomembrane is used in drainage system, barren & processing ponds, surplus groundwater storage lagoons, caps & interlift covers, and tailings storage

The geomembrane market analysis covers in-depth information of the major industry participants. Some of the major players in the geomembrane market include Agru America Inc., Atarfil, Carlisle SynTec systems, Carthage mills Inc., Naue GmbH & co, Solmax, Raven industries Inc, Juta, Plastika kritis, and Officine Maccaferri SPA.

Other players in the geomembrane market are Dow chemical company, Huesker synthetic GmbH, Low and Boner PLC, Propex operating company LLC, Royal ten cate Inc, Strata systems Inc, Tenax, Tensar corporation, Ace geosynthetics, and Asahi kasei corporation.

Key findings of the study

• The report outlines the current geomembrane market trends and future scenario of the market from 2021 to 2030 to understand the prevailing opportunities and potential investment pockets.
• The geomembrane market size is provided in terms of volume and revenue.
• Asia-Pacific is expected to maintain its lead in the market throughout 2030, followed by LAMEA.
• Waste Management is projected to grow at a CAGR of 5.2% during the forecast period in terms of revenue.
• The India accounted for 9.1% share of the geomembrane market volume in 2020.
• On the basis of application, the mining segment garnered 32.5% share in 2020 in terms of revenue.

Impact of COVID-19 on the Geomembrane Market

• Manufacturing as well as the supply regions witnessed economic slowdown owing to lockdown.
• Raw material procurement was a challenge owing to disturbed transportation services.
• As per the companies operating in the market there are numerous uncertainties about the COVID-19 pandemic, comprising the scope of scientific and health problems, the expected period of the pandemic, and the political, and economic disturbance it might cause.
• The COVID-19 pandemic is further expected to have significant impact on industrial participants operations, indirectly and directly with respect to customer behaviors, labor shortages or stoppages, inventory, sales, businesses, and manufacturing operations.