Freedonia Group Releases "World Geosynthetics" Study
The Freedonia Group Inc., a Cleveland-based industry market research firm, has released “World Geosynthetics.” The study states that global demand for geosynethetics is expected to increase 8.9 percent annually to total 5.2 billion square meters in 2017. Growth will result from an improved structures and roads construction market — which, as the largest geosynthetics market, accounted for approximately one-third of global geosynthetics sales in 2012 and is projected to log the fastest growth through 2017. Gains also will come from increased market penetration resulting from the rising concern over environmental protection and increased awareness of the performance advantages that geosynthetics offer in a range of applications.
Among other findings, the report states the Asia/Pacific region outpaced North America in 2012 to become the largest regional geosynthetics market, accounting for 35 percent of the total worldwide market. The Chinese market is growing rapidly, and will account for some three-fourths of regional sales in 2017 and more than half of additional worldwide volume demand through 2017. India — starting from a significantly smaller basis — is expected as well to record double-digit growth yearly through 2017. Geosynthetics growth in many of the least-developed countries is forecast to be more limited.
In addition, the study found the North American market for geosynthetics, with 28 percent of sales, ranked second in 2012; and the United States, with 23 percent of worldwide sales, was the largest national market. Factors such as the U.S.’s large construction sector and transportation infrastructure and relatively stringent environmental control regulations with regard to waste and chemical containment will continue to offer considerable opportunities for geosynthetics through 2017.
January 7, 2014