Global COVID-19 Pandemic Impact on Soil Stabilization Market is set to benefit from industries like construction and infrastructure, and agriculture. With governments increasing their funds for the construction and infrastructural activities, the market is set to permeate various sectors to improve the quality of the final work. This will increase the market demand for the product. In the agricultural sector, this growth would be substantial as it plays a crucial role in triggering better crop yield. This is necessary to support the rising demand for food. Market Research Future (MRFR) predicted that the global market might record a valuation of USD 28.18 billion by 2024 while surging with a CAGR of 4.58% during the forecast period of 2019 to 2024.
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Carmeuse (Belgium), The Low & Bonar Group (UK), Graymont Limited (Canada), TAdelaide Brighton Cement (Australia), ensar International Corporation (US), Boral Limited (Australia), The Volvo Group (Sweden), FAYAT SAS (France), Wirtgen Group (Germany), SCR-Sibelco NV (Belgium), Caterpillar Inc. (US), AggreBind Inc. (US), Soilworks, LLC (US), SNF Holding Company Inc. (US), and AltaCrete (Canada) are some of the major companies in the global market for soil stabilization and they are interested in having a deep root in the market for which they have started implementing tactical moves like a merger, innovation, branding, launching, collaboration, funding, tie-ups, and others. MRFR took note of their recent moves to get a closer look at how the market is furthering.
Iran is one of the major Asian countries that is constantly suffering from sand and dust storms or SDSs. This is primarily due to the geographical location of the region- dominated by barren lands and lack of rainfall that destabilizes the soil. It is also getting impacted by the SDS from neighboring countries like Iraq and Syria. The government has recently declared that it has already spent around USD 270 million to use soil stabilization and other technologies to reduce the impacts of SDSs. Their plan is to take this project ahead to protect the nation from several crises like changes in lifestyle and others caused by SDSs.
However, the global market for soil stabilization may suffer from the onslaught of the COVID-19 pandemic as it has enforced several measures. Governments had to ensure lockdowns to curtail the impact of the disease. That is why projects are on hold in the construction sector and others, which reduces the intake of the product significantly.
Global COVID-19 Pandemic Impact on Soil Stabilization Market has seen some rapid changes in the last few decades and a study with proper segments could boost it even further. MRFR analysts did that by having the market segmented into additive, method, and application.
By additive, the global market for soil stabilization has been segmented into mineral & stabilizing agents, polymers, and others.
By method, the global COVID-19 Pandemic Impact on Soil Stabilization Market has been segmented into mechanical and chemical.
By application, the report, stating details of the global soil stabilization market, has been segmented into industrial, agricultural, and others. The agricultural sector impacts the market substantially as the need for food is on a constant rise to meet the demand from the burgeoning population.
The market in North America is expected to dominate the global market. This is due to the rise in the intake of such products to support projects with the intent to inspire modernization. The inclusion of better technologies, rising investment from several market players, and others are expected to bolster the market growth.
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