Geosynthetics Market Growth Accelerated by Innovations in Geosynthetics Materials
Geosynthetics Market |
Geosynthetics are synthetic products used in construction applications to minimize soil erosion and maximize stability. They include geotextiles, geogrids, geonets, and geomembranes that are made from polypropylene, polyester, or high-density polyethylene. They offer several advantages over traditional construction materials like concrete and asphalt as they are lighter, more flexible, durable and help reduce project costs.
The global
Geosynthetics Market is estimated to be valued at US$ 15 Billion in 2023 and is
expected to exhibit a CAGR of 4.5% over the forecast period 2023-2031, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
Innovations in geosynthetics materials is one of the key trends accelerating
growth of the market. Leading manufacturers are investing heavily in research and
development to expand product portfolio and focus on development of innovative
materials that offer enhanced performance, durability and sustainability. For
instance, manufacturers are working on development of geosynthetic materials
made from biodegradable and eco-friendly polymers derived from renewable
resources like switchgrass and pine trees. Such innovations are increasing
applicability of geosynthetics across various industries and driving their
adoption. This is anticipated to propel market growth over the forecast period.
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