The global geosynthetics market size is expected to reach USD 21.4 billion by 2028, according to a new report by Grand View Research Inc., expanding at a CAGR of 6.0% from 2020 to 2028. Rapidly rising penetration of geosynthetics in the development of civil transportation infrastructure for heavy traffic is likely to fuel the market growth over the forecast period.

The COVID-19 pandemic outbreak across the globe has forced several governments to impose lockdown regulations in their respective economies. The aforementioned situation has boosted the construction of civil transportation infrastructure due to low traffic, thereby positively influencing the market growth.
Geosynthetic products are witnessing rising usage in mining operations as the mining companies are focusing on its economic and technical advantages. Moreover, heap leaching has emerged as a key technic for the extraction of valuable material from the ore, thereby driving the demand for the products owing to their high usage in heap leach projects.

Key industry participants are engaged in mergers & acquisitions to gain a strong foothold in the market. For instance, in 2017, Solmax, a leading player in the geosynthetics industry, acquired GSE Environment to form a combined business unit with a broader manufacturing unit, along with a worldwide commercial network.
In 2020, Asia Pacific dominated the market and accounted for 41.4% share of the global revenue. Rising demand for oil reinforcement in the foundation work of residential buildings in the emerging economies of China and India is expected to drive the overall regional market over the forecast period.

Europe accounted for over 20.4% share of the global revenue in 2020 owing to various construction directives, such as 89/106/EEC and M/107 European Union, which has mandated the application of geosynthetics for infrastructure projects. Furthermore, the German government imposed stringent regulations related to waste management practices in the municipal and industrial sectors.

Increasing infrastructural activities in the developing economies of Central and South America, including Brazil, are likely to boost the use of geosynthetics over the forecast period. Rising usage of geosynthetics in water management practices is expected to boost regional market growth. The regional market is also driven by the flourishing offshore oil and gas sector in Argentina, Venezuela, and Brazil.