Geomembrane Market is Projected to Grow at a Decent CAGR by 2022: Radiant Insights
Geomembrane, a low permeable material, is used to control the gas or fluid migration in industries such as mining, construction etc. It is used for pond liners, water treatment, landfills, tunnels, and so on; since it provides high-quality tensile strength and tear & puncture resistance. Moreover, it also reduces wrinkles providing stability on sharp side slopes in landfill sites. The growth of the mining industry in various developing countries such as Chile, South Africa, Mexico, and Peru, due to favorable investment plans & policies by their governments is anticipated to widen the geomembrane application scope. The global geomembrane market is estimated to have a rapid growth over the forecast period (2015–2022). The market is divided into raw materials, technologies, applications, and regions.
The raw materials segment consists of Low-Density Polyethylene (LDPE), Ethylene-Propylene Diene Monomer (EPDM), High-Density Polyethylene (HDPE), and Polyvinyl Chloride (PVC). The PVC sector is estimated to have a decent growth in the near future since it is highly flexible and can be easily installed. The HDPE sector was the widely consumed raw material. The EPDM sector is expected to be the fastest-growing segment. The LDPE sector is also projected to have a lucrative growth over the next seven years.
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The technology sector includes calendering and extrusion. Geomembrane is produced using extrusion procedure. However, the calendaring method is also being widely adopted by different companies in order to offer a high tolerance level. Many other technologies, such as spread coating, are likely to face a slower growth because of limited production scope.
The application segment includes construction, water management, and mining. The mining sector dominated the application segment in 2014. The rising containment solutions & landfills application in mining is projected to spur the product demand. Water management sector will also grow at a decent CAGR during the forecast period, because of the rising global usage levels of geosynthetics. The construction sector is estimated to experience a lucrative growth over the forecast period (2015–2022).
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