Geosynthetics Market Size to Reach USD 14.57 Billion in 2028

Continual construction and expansion of road and railway networks in various countries across the globe, rapid urbanization in developing countries, as well as increasing usage of geosynthetics in such projects are key factors expected to continue to drive market revenue growth over the forecast period. Geosynthetics are widely utilized for filtration in road construction work in developed countries. Geosynthetics are currently also being used more extensively for erosion control, roadside draining, and soil stability beneath retaining walls. Sustained developments in both buildings and non-building construction activities and projects is also expected to continue to boost demand for geosynthetics in non-transportation construction activities since these can lower the cost of maintenance and extend the lifespan of facilities.

Cost and availability of raw materials are crucial factors that influence the price of geosynthetic products. Majority of geosynthetic raw materials including polyethylene, polypropylene, and PVC are vulnerable to crude oil price volatility. Cost of raw materials used in the production of geosynthetics is directly affected by the price of crude oil, which is expected to hamper market growth to some extent over the forecast period.

The global geosynthetics market revenue is expected to register a CAGR of 5.8% and market size to increase from USD 9.44 Billion in 2020 to USD 14.57 Billion in 2028. Robust market revenue growth is attributable to increased infrastructure investments and societal concerns about waste management enhancements and deployment of more effective materials and solutions. Increasing global population and rapid urbanization are also key factors expected to propel market growth further over the forecast period.

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