Geomembrane Market Size, Share Global Analysis Report, 2022 – 2028

Industry Insights

[218+ Pages Report] According to Facts and Factors, the global geomembrane market size was worth around USD 1.8 billion in 2021 and is predicted to grow to around USD 2.6 billion by 2028 with a compound annual growth rate (CAGR) of roughly 5.5% between 2022 and 2028. The report analyzes the global geomembrane market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the geomembrane market.

Market Overview

Geomembranes are synthetic membrane liners or barriers that are used to manage fluid migration in a project, structure, or system that has been developed by humans. They are formed from relatively thin continuous polymeric sheets, which are typically manufactured by pouring asphalt, elastomer, or polymer over geotextiles. They are frequently used for wastewater storage and waterproofing in man-made ponds, lakes, and swimming pools because of their high shear and tensile strength, resistance to high temperatures, ultraviolet (UV) rays, punctures, and abrasions. Geomembranes are widely used in many different industries, including energy, oil & gas, agriculture, civil engineering, and construction, as a result of these advantages.

Key Insights

• As per the analysis shared by our research analyst, the global geomembrane market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2022-2028).
•  In terms of revenue, the global geomembrane market size was valued at around USD 1.8 billion in 2021 and is projected to reach USD 2.6 billion, by 2028. Due to a variety of driving factors, the market is predicted to rise at a significant rate.
• Based on raw material segmentation, HDPE was predicted to dominate the market in the year 2021.
• Based on technology segmentation, extrusion was the leading revenue-generating technology with a market share of over 50% in 2021.
• Based on application segmentation, mining led the geomembrane market and accounted for more than 35% of global revenue in the year 2021.
• Based on region, Asia Pacific was the leading revenue generator in 2021.

Covid-19 Impact

The COVID-19 pandemic significantly impacted the economy as well as individuals across the globe. For instance, the world economy is predicted by the International Monetary Fund (IMF) to contract by 3.0% in 2020. The pandemic, according to the IMF, has caused the world economy to experience its worst recession since the Great Depression of the 1930s. Many nations are in a state of extreme lockdown, which has compelled many industries to halt operations. Lockdown has halted construction and manufacturing, which has decreased the demand for geomembranes. In addition, the geomembrane is manufactured from the derivatives of crude oil and the volatility in the price of crude oil during the COVID-19 era adversely impacted the market growth of geomembrane.

Growth Drivers

• Growing applications of geomembranes in various end-use industries to drive market growth during the forecast period.

The global geomembranes market is anticipated to grow in the coming years as a consequence of the increase in demand for geomembranes in several end-use industries, including mining, waste management, plastics, water management, construction, and agriculture. Sewage treatment is one application for geomembranes in the drinking water and wastewater industries. Liners made of geomembranes are used to seal canals, dams, and reservoirs. Geomembranes are impermeable and made of plastic. Permeable or impermeable geomembranes are both possible. It is utilized to make an impermeable barrier or control system or to control seepage. It is specifically used as landfill liners in wastewater management. Moreover, the global market for geomembranes is being driven by the mining industry's expanding use of them. It can be used for mining-related purposes such as pond liners, ditch & canal liners, and bottom liners. In the mining sector, geomembranes are employed to construct safer and more space-efficient retaining walls, stronger access roads, and more effective barriers. Mining-related manufacturers are concentrating on the technical and economic benefits of geomembranes. Thus, the end-use industry drives the market growth of the geomembrane over the analysis period.

Restraints

• Volatility in the raw material prices is projected to hamper the market during the forecast period

One of the main factors limiting the growth of the geomembranes industry is the volatility of crude oil prices. The majority of the raw materials used to make geomembranes are petroleum-based and thus susceptible to changes in the price of crude oil. The cost of the raw materials needed to make geomembranes is directly impacted by changes in crude oil prices. Costly and unstable raw materials are a challenge for manufacturers, which lowers their profit margins. Due to this situation, market participants are now under pressure to increase their operations' productivity and efficiency to maintain growth and market share.

Opportunities

• Growing investment in infrastructure across the globe is expected to provide lucrative opportunity for market expansion

The increasing infrastructural investment across the globe is expected to provide a lucrative opportunity for the development of the market during the forecast period. Building water supply and treatment facilities, roads, tunnels, dams, trains, airports, bridges, telecommunications networks, schools, and hospitals are all examples of infrastructure development. For instance, India, the US, Israel, and the UAE launched a new quadrilateral economic forum in November 2021 to concentrate on regional infrastructure development projects and improve bilateral cooperation. With the introduction of the "Infrastructure for the Resilient Island States" program in November 2021, India will have a significant opportunity to improve the lives of other vulnerable nations around the globe. Additionally, the output for residential and non-residential (including commercial, industrial, and other) infrastructures would increase by 85% in terms of volume to reach USD 15.5 trillion by 2030, predicts the Confederation of International Contractors' Associations (CICA). Geomembranes have a wide range of uses in the construction industry. The market will benefit from the long shelf life and outstanding physical & mechanical qualities of geomembranes.

Segmentation Analysis

The global geomembrane market is segmented based on raw material, technology, application, and region

Based on raw materials, the global market is bifurcated into HDPE, LDPE, EPDM, PVC, and Others. The HDPE segment dominated in 2021 with a revenue share of over 30% and is projected to show this pattern over the forecast period. The growth in the segment is attributed to the properties like easy installation and good thermal stability. Due to its great strength, a desirable feature in many applications, HDPE is preferred over all other raw materials. Due to its extensive potential for growth in the mining and construction industries, it is frequently employed in the production of geomembranes.

Based on technology, the global market is segmented into extrusion, calendering, and others. The extrusion segment is projected to hold a significant market share over the forecast period owing to its extensive uses in different types of operations such as civil construction, water consumption, environmental protection, and groundwater protection. Additionally, thermoplastic materials like HDPE are used for thermal welding to produce extruded geomembranes. The high growth potential of these materials and their widespread application are anticipated to strengthen the extrusion technology market.

Based on application, the global market is bifurcated into waste management, water management, mining, lining systems, and others. The mining segment held the largest market share in 2021 and is expected to show its dominance during the forecast period. Due to geomembranes' resilience in extreme weather, their use in the mining industry—including the extraction of metals, non-metallic minerals, and energy—is rapidly expanding. The heap leach pads, wastewater runoff ponds, tailing ponds, processed water containment, floating covers, soil remediation, secondary containment, and tailings cap enclosures are the geomembranes used in the mining industry most frequently.

Recent Developments:

• In December 2021, in its XR Geomembranes product line, Seaman Corp. of Wooster, Ohio, introduced a new fire-retardant geomembrane called XR-FR. A flexible geomembrane that can withstand fire has been added to the product line because of the track record of performance the product line possesses. The XR-FR product is suitable for use in aboveground flammable and combustible liquid tank secondary containment.
• In September 2022, Dow launched a new HDPE geomembrane resin called INTREPID 2499 Bimodal Resin. Compared to more established, conventional materials, INTREPID 2499 Bimodal HDPE Resin performs well and has a higher life expectancy in highly oxidative situations.

Report Scope

Regional Analysis

• The Asia Pacific is projected to dominate the market during the forecast period owing to the rapid industrialization

The Asia Pacific region is expected to dominate the global geomembrane market during the forecast period. This might be ascribed to increasing industrialization and increasing awareness of the advantages of polymer-based geomembrane in the mining and construction sectors in developing nations like China and India.

North America is growing at a significant pace during the forecast period. PVC geomembrane should be more widely used in heap leach mining applications due to the strong presence of the mining industry in Mexico for silver extraction. In addition, it is anticipated that the market will be driven by rising shale gas output and attention to waste management applications.

Competitive Analysis

• Geofabrics Australasia Pty Ltd. 
• CETCO 
• GSE Environmental 
• JUTA Ltd. 
• Solmax International Inc. 
• NAUE Gmbh & Co. 
• KG 
• Officine Maccaferri Spa 
• PLASTIKA KRITIS S.A. 
• Nilex Inc 
• Bridgestone America 
• Carlisle SynTec Systems 
• Raven industries 
• AGRU 
• Atarfil 
• Firestone Building Products 
• Ginegar Plastic Products 
• US Fabrics.

The global geomembrane market is segmented as follows:

By Raw Material

• HDPE
• LDPE
• EPDM
• PVC
• Others

By Technology

• Extrusion
• Calendering
• Others

By Application

• Waste Management
• Water Management
• Mining
• Lining Systems
• Others

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America