The global geomembranes market size is projected to expand at a substantial pace on account of growing utilization of geomembrane materials for rainwater harvesting, shares Fortune Business Insights™ in its report, titled “Geomembranes Market Size, Share & Industry Analysis, By Raw Material Type (High Density Polyethylene (HDPE), Linear Low Density Polyethylene (LLDPE), Low Density Polyethylene (LDPE), Polyvinyl Chloride (PVC)), By Technology (Extrusion, Calendaring, Others), By Application (Mining, Water Management, Tunnel Liners & Civil Engineering, Waste Management) and Regional Forecast, 2024-2032”. Geomembranes are synthetic, continuous polymeric sheets that are used to control fluid movement in manmade projects, structures, or systems. These materials are being increasingly deployed for rainwater harvesting purposes, especially in underdeveloped areas that are heavily dependent on rains. For example, in February 2019, the Global Water Partnership set up a rainwater harvesting system in the rain-deprived Central American countries of Honduras and El Salvador, where geomembrane bags formed a key component. Similarly, in India, organizations such as Ocean Global have been developing geo-membranes and geo-bags to bolster water conservation efforts of the Indian Government in the rain-shadow regions of the country.
List of Key Companies Profiled in the Geomembranes Market Report:
- Firestone Building Products Company LLC
- Carlisle SynTec Systems
- Officine Maccaferri Spa
- Agru America Inc.
- NAUE GmbH & Co. KG
- Atarfil SL
- PLASTIKA
- KRITIS S.A.
- Colorado Lining International Inc.
- SOLMAX
Highlights of the Report:
- Comprehensive analysis of the market drivers, trends, and restraints;
- Granular examination of the various segments of the market;
- In-depth research into the regional developments and prospects influencing the market; and
- Microscopic study of the major market players and their key strategies.
Market Driver
Increasing Groundwater Pollution in Developing Nations to Stoke Adoption
A leading factor fueling the geomembranes market growth is the staggering level of groundwater pollution in developing economies around the world. For example, in India, the government think-tank, NITI Aayog, reported that 70% of India’s ground and surface water resources are polluted, making India’s water bodies the worst-polluted in the world. Moreover, approximately 600 million Indians face water scarcity, while 200,000 Indians lose their lives annually for consuming or using polluted water. In South America, Brazil, Argentina, Paraguay, and Uruguay are struggling to reduce pollution and lower the depletion rate of the Guarani Aquifer, which is three times the size of the Caspian Sea. These efforts can get significantly strengthened by the use of geomembranes as impermeable geomembranes can create an effective barrier between contaminants and the underlying groundwater. Moreover, they are ideal for use as bottom-liners in landfills, which can further prevent groundwater pollution.
Regional Insights
Stringent Environmental Norms to Favor Growth in North America
Geographically, North America is expected to dominate the geomembranes market share in the coming years on account of strict implementation of environmental protection regulations in the region. In addition, governments in the region are making heavy investments to contain groundwater pollution and promote the adoption of advanced wastewater management technologies, which further brightens the prospects of the market. Similar trends are anticipated to drive the market in Europe.
In Asia Pacific, the market will be primarily driven by the growing need for rainwater harvesting as large swathes of people in this region are dependent on rainfall for their survival. Besides, increasing contamination of groundwater resources owing to rampant mining activities and poor wastewater treatment are expected to boost the demand for geomembranes.
Competitive Landscape
Key Players to Concentrate on Engineering Next-Gen Geomembrane Solutions
Geo-membranes are expected to play a critical role in aiding governments’ tackle environmental conservation. To capitalize on this emerging trend, key players are coming out with innovatively engineered products, in a bid to expand their presence in the market by offering diversified solutions.
Information Source: https://www.fortunebusinessinsights.com/geomembranes-market-103024