The global geomembranes market size is expected to reach USD 3.55 billion by 2032, according to a new study by Polaris Market Research. The report “Geomembranes Market Share, Size, Trends, Industry Analysis Report, By Raw Material (HDPE, LDPE, EPDM, PVC, and Others); By Technology; By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing rate of growth of the construction and mining industry mainly in emerging countries, various supporting regulations for water and waste management activities, and highly increasing expenditure on infrastructural development are prominent factors expected to drive the market growth.
Furthermore, increasing research & development-based activities for the launch of innovative geomembrane products along with high-value investments along with the high proliferation for waste and sewage management are likely to contribute positively to the market growth.
For instance, in April 2022, Layfield Group, announced the launch of its new premium line of geonets and geo-composites named “HydraNet”, constructed from biplanar or tri-planar of high-density polyethylene. It is made up of geonet laminated to provide an effective drainage medium, which also offers filtration and prevents slit from clogging and entering the geonet.
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In the recent years, geomembranes have gained huge popularity as it effectively contains liquids and gases on a higher broad scale and offering virtually impenetrable barrier. Geomembranes are widely used for the lining application and are mainly used for the lowest permeability achievable. Due to its low permeability, high temperature-resistance, high tensile strength, and high interface friction properties, it is largely used in the mining heap leach process for preventing liquid from getting leaked into the environment.
Furthermore, numerous factors like development of resilient geomembrane that are extremely suitable for harsh operation conditions and high awareness regarding water conservation in the manufacturing sector across the globe along with the decline in the supply of freshwater, the need for effective water management is on the rise and likely to offer lucrative market growth opportunities over the coming years.
Geomembranes Market Report Highlights
Polaris Market Research has segmented the Geomembranes market report based on raw material, technology, application, and region:
Geomembranes, Raw Material Outlook (Revenue - USD Billion, 2019 - 2032)
Geomembranes, Technology Outlook (Revenue - USD Billion, 2019 - 2032)
Geomembranes, Application Outlook (Revenue - USD Billion, 2019 - 2032)
Geomembranes, Regional Outlook (Revenue - USD Billion, 2019 - 2032)