Geosynthetics Market to Exhibit 6.6% CAGR by 2026; Increasing Utilization of Deep Patch Technique to Propel Demand

The global geosynthetics market size is projected to reach USD 45.25 billion by 2026. It is set to gain momentum from the increasing utilization of deep patch technique on low-volume roads, especially in the Pacific Northwest. The main reason behind its popularity is the cost-effective nature of this methods. This technique is used to lower the rate of the development of roadway displacements over landslides.

The above-mentioned information is put forward by Fortune Business Insights™ in a recently published study, titled, “Geosynthetics Market Size, Share and Industry Analysis, By Product (Geotextile Geogrid, Geonets, Geocells, Geofoam, Geosynthetic Clay Liner, Geocomposites), By Application and Regional Forecast 2019-2026.” The study further mentions that the market stood at USD 27.16 billion in 2018. However, it is set to exhibit a CAGR of 6.6% during the forecast period between 2019 – 2026.

Ferguson Enterprises Acquires Action Plumbing Supply & Innovative Soil Solutions

In July 2019, Ferguson Enterprises, a seller of top-quality plumbing supplies, building supplies, and HVAC products headquartered in Virginia, completed the acquisition of Action Plumbing Supply and Innovative Soil Solutions. Innovative Soil Solutions was founded in 2012 and it offers unique geosynthetics and soil erosion control solutions in and around Texas. It is present at three locations in Texas, namely, San Antonio, Austin, and Arlington.

As per Ferguson Enterprises, this acquisition would help the company is broadening its business. It would also be able to provide capabilities in erosion control solutions, as well as geotextiles in Texas through its wide product offerings. The company further stated that the acquisition of Action Plumbing Supply would help it in providing better service to its consumers located in West Palm and refine its reach in the highly competitive market.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/geosynthetics-market-102545

Rising Usage of Geosynthetic Products in Construction to Drive Growth

In construction activities, geosynthetic materials are used at a large scale for reducing erosion, strengthening infrastructure, enhancing drainage, and controlling evaporation. These are done to ensure safety and longevity of structures. Geosynthetic materials aid in stabilizing, reinforcing, and separating subgrade. Besides, the base materials help in lowering upcoming road maintenance, as well as upsurging road life. Apart from that, they aid in tolerating large lateral deformations and vertical differential settlements, thereby preventing accidents. However, the installation process of geotextiles may cause certain damages that can lead to unavoidable changes in their physical, hydraulic, and mechanical properties. This factor is likely to obstruct the geosynthetics market growth in the coming years.

Key Players Focus on Acquisitions & Product Launches to Increase Sales

Prominent companies are engaging in collaborations, mergers and acquisitions, new product launches, investments, and other similar strategies to gain competitive edge. They are also trying to keep up with the latest geosynthetics market trends and are focusing on introducing new features in their products to boost sales.

Most Noteworthy Industry Development-

• March 2019: Glen Raven Inc., a fabric manufacturing and marketing company based in North Carolina, announced the opening of its new manufacturing facility in Mumbai. It is a 150,000-square-foot production zone worth around USD 15 million. This new facility is a part of the company’s joint venture with Strata Geosystems. It would help in fulfilling the demand for geosynthetic products in India.

Fortune Business Insights™ profiles a list of organizations present in the geosynthetics market. They are as follows:

• Tuflex India


• Steklonit


• GSE Environmental


• Pietrucha Group


• Koninklijke Ten Cate bv


• Texel


• Fibromat (M) Sdn Bhd.


• TENAX SPA


• SKAPS Industries


• Fibertex Nonwovens A/S


• Maharshee Geomembrane (India) Pvt. Ltd.


• HUESKER


• Terram Geosynthetics Pvt. Ltd. (TGPL)


• Tensar International Corporation


• Garware Technical Fibres Ltd.


• Strata Systems, Inc.


• Techno Fabrics Geosynthetics Pvt. Ltd.


• Global Synthetics


• AGRU AMERICA, INC.


• CTM Geosynthetics


• Other key market players

Further Report Findings-

• North America generated USD 10.27 billion geosynthetics market revenue in 2018 and is set to dominate in the coming years owing to the rising demand for several metals from construction, automobile, and electronics industries.


• Europe to remain in the second position fueled by ever-increasing need to curb the emission of carbon in the atmosphere.


• The geotextiles segment held a geosynthetics market share of 30.47% in 2018 because of their extensive usage in construction sector.

 The geosynthetics market can be segmented in the following manner: