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A Geomembrane is an artificial airtight membrane provide a barrier function to protect the environment. The major application of such membrane is to control fluid migration in a manmade project, structure, or system. Industries demanding for such membranes includes mining, petrochemicals, oil & gas, aquaculture, etc. The market for geomembranes is anticipated to grow in the coming years with the increasing awareness of rainwater harvesting, stringent government norms for environmental conservation, etc. Moreover, rising focus of manufacturers to introduce innovative membranes are contributing to the market growth. Also, domestic infrastructure is accelerating across developing economies backed by increasing government initiatives for pouring investments in infrastructure development. This is further creating a potential impact on the market growth. In addition, the capability to withstand against high temperatures, weatherability, chemical resistant, etc. is fuelling the geomembranes deployment across various industries. However, volatility in the raw material prices is a major factor anticipated to slow down the market. These geomembrane are produced with a wide variety of polyesters or a combination of other materials. Fluctuations in the prices affects the overall cost of production and installation.
Key Market Driver -
• Growing adoption of rain water harvesting technique for conducting agriculture activities. • Stringent government norms and policies for promoting environmental conservation.
Key Market Restraint -
• Fluctuations in the availability of raw materials can hinder market growth.
Some of the key competitors in the geomembranes market include NAUE GmbH & Co. KG, SOLMAX, Agru America Inc., Colorado Lining International Inc., Officine Maccaferri Spa, PLASTIKA KRITIS S.A., Carlisle SynTec Systems, Atarfil SL, Firestone Building Products Company LLC, and others.
North America is expected to book a highest market share in the forecast period owing to presence of major manufacturers operating in this business segment, stringent norms for groundwater pollution and wastewater treatment, rising focus of suppliers to widen its existing product ranges and innovate the geomembranes with different textures and compositions, etc.
Asia Pacific and Europe are anticipated to grow significantly in the geomembranes market in the coming years owing to high investments in domestic production of sewage systems, rising mining and construction industries, increasing adoption of geomembranes in lining applications, etc. Furthermore, the presence of organized and unorganized chinese players operating in this business segment is creating a potential room for market growth.
Middle East and Africa and Latin America are anticipated at a considerable rate in the coming years owing to government initiatives to invest in developing economies for infrastructure development, rising mining activities, increasing awareness of wastewater management and rain water harvesting techniques, etc.
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