by Market Overview:
Geomembrane is a membrane or geosynthetic clay liner that can act as a barrier to liquid pollution or gas. Geomembrane barriers are commonly used as containment solutions for environmental applications like landfills, waste-water treatment facilities, mining, tunnels, and canals. They are made of high-density polyethylene (HDPE), linear low-density polyethylene (LLDPE), polyvinyl chloride (PVC), and others. Geomembranes are popular for their advantages like cost-effectiveness, permeability barriers, chemical resistance, and easy installation process. With growing environmental concerns, geomembranes are gaining widespread acceptance in waste management industries.
The global Geomembrane Market is estimated to be valued at US$ 2,089.90 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the geomembrane market is the increasing demand from industrial wastewater treatment plants. The treatment of industrial wastewater continues to be an important environmental issue as it contains harmful pollutants. Geomembranes are effective barriers used in wastewater lagoons and containment ponds to prevent contamination of groundwater. Another trend is the development of innovative welded and seamed geomembranes with higher resistance to punctures, UV exposure, and degradation. Manufacturers are focusing on producing membranes from recycled polymers to promote sustainability. Growing investment in wastewater recycling projects especially in water stressed regions will further propel the demand for geomembranes over the forecast period.
Porter’s Analysis
Threat of new entrants: The geomembrane market requires high capital investment for manufacturing facilities and R&D. Established players enjoy economies of scale. This poses significant barriers for new players.
Bargaining power of buyers: The presence of numerous manufacturers limits buyer power. However, manufacturers with high production capacities have an advantage in supplying large volumes and providing better pricing to buyers.
Bargaining power of suppliers: The availability of raw materials from numerous suppliers limits their bargaining power. However, specialized material suppliers indispensable for certain manufacturing processes may exercise some power.
Threat of new substitutes: Although alternatives exist such as compacted clay, they are less effective barriers. Geomembranes have better impermeability and are relatively cheaper to install over long runs limiting threat from substitutes.
Competitive rivalry: The market has few global players with others being regional. Intense competition on pricing and differentiating product quality and service keeps rivalry high.
Key Takeaways
The Global Geomembrane Market Size is expected to witness high growth, exhibiting CAGR of 5.2% over the forecast period, due to increasing investments in waste management and water containment applications.
The Asia Pacific region dominates the global geomembrane market. Growth in India, China and other Southeast Asian countries due to large infrastructure spending and focus on waste management is fueling market growth. North America is another major region owing to stringent environmental norms regarding landfill linings.
Key players operating in the geomembrane market are GSE Environmental; CETCO; Geofabrics Australasia Pty Ltd.; Carthage Mills Erosion Control Company, Inc.; NAUE GmbH & Co., KG; JUTA Ltd.; Solmax International Inc.; Officine Maccaferri S.p.A; Plastika Kritis S.A.; Nilex, Inc.; Bridgestone America; Carlisle SynTec Systems; Anhui Huifeng New Synthetic Materials Co., Ltd. These companies focus on new product development and capacity expansion strategies to strengthen their position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
