Growing environmental awareness and increasing applicability of geomembranes are the factors expected to drive the geomembranes market

Growing environmental awareness and increasing applicability of geomembranes are the factors expected to drive the geomembranes market

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Geomembranes Market by Raw Material (HDPE, LDPE & LLDPE, PVC, EPDM, PP), Manufacturing Process (Blown Film, Calendering), Application (Waste Management, Mining, Water Management, Tunnel Lining), Region

Geomembranes are impermeable membrane liners or barriers used to block the movement of water, fluids, or other materials of soluble nature in man-made structures. Geomembranes are being adopted across various applications such as waste management, mining, water management, tunnel lining, and others. The geomembranes market is projected to grow at a CAGR of 9.2% from 2016 to 2021, in terms of value. Increasing environmental awareness and environmental hazards, along with increasing population and pollution is the major driver in the geomembranes market. The growth of the geomembranes market is expected to be fueled by the rising demand from various applications and the development of new applications.

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Regions such as the Asia-Pacific and North America, are relatively mature markets for geomembranes as compared to Europe, Middle East & Africa, and South America. The Asia-Pacific region is projected to be the fastest-growing market, whereas North America is projected to be the largest market from 2016 to 2021. The market in these regions is expected to witness an increase in the demand for geomembranes from the mining, waste management, and other applications. In North America, the market in the U.S. is projected to witness the highest growth during the forecast period, in terms of value as well as volume. The extensive use of geomembranes for waste and hazardous chemical containment and leachate collection along with their increased applicability in aquaculture and for floating covers in irrigation ditches, ponds, and lakes are the major factors driving the geomembranes market.

Based on applications, the waste management application segment is projected to grow at the highest rate from 2016 to 2021. The high growth of this segment is expected to be driven by the increasing use of geomembranes in waste management applications, such as blockade layer for landfills, and cover over collected solid waste.

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The HDPE geomembranes segment by raw material led the geomembranes market, in terms of volume, in 2015. This can be attributed to the easy availability and relatively low cost of the material as compared to other geomembranes. It is extensively used in waste management applications, due to its functionalities, such as being chemically resistant, ageing resistance from powerful weather stresses, protection from ultraviolet rays, high durability, and inherent flexibility.

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