The Geomembranes Market is expected to grow from USD 2.2 billion in 2016 to USD 3.4 billion by 2021, at a compound annual growth rate (CAGR) of 9.2% during the forecast period. The increasing environmental awareness and demand for freshwater resources are triggering the use of geomembranes in the water management application, thereby driving the market.

Market Dynamics

Driver: Growing level of environmental awareness

Geomembranes can efficiently prevent the leakage of poisonous fluids, harmful gases, among other pollutants at an affordable cost, which reduces damage to the environment. It is widely used in various landfill sites all over the world, owing to its stability and safety during use on landfill sites.

Restraint: Fluctuating prices of raw materials

The primary raw material required to manufacture geomembranes are HDPE, LDPE/LLDPE, PVC, PP, EPDM, and others. The price and availability of the aforementioned raw materials are directly dependent on crude oil. The prices of materials such as polyethylene and propylene are very volatile, making the price of end products inconsistent.

Opportunity: Development of resilient geomembranes to sustain in harsh operational conditions

Geomembranes are vital products in protecting water from hazardous solid and liquid waste materials. These act as hydraulic barriers in the purification processes and also as a gas barrier, preventing air pollutants from escaping. They are used in the waste containment projects, landfills, leachate pads during mining, refineries, and many other applications.

Challenge: Dependency on government authorizatio

Geomembranes are mostly used in public projects such as mining, canals, reservoir, power plants, and others. These projects have involvement of various government organizations and some public-private partnerships (PPP). Such projects are highly prone to delays caused by slack in financial clearances, environmental approvals, and other approvals from the respective authorities.

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In 2015, North America was the leading geomembranes market. Geomembranes are used extensively in the waste management application in the region. Increased environmental awareness and initiatives related to environmental protection and the use of geomembranes for waste management have helped in the growth of the market. The US is the dominant market in North America.

The key players operating in the geomembranes market include GSE Environmental, LLC (US), Agru America, Inc. (US), Solmax International, Inc. (Canada), Atarfil SL (Spain), NAUE GmbH & Co. KG (Germany), Officine Maccaferri S.p.A (Italy), Colorado Lining International, Inc. (US), Firestone Building Products Company, LLC (US), Plastika Kritis S.A. (Greece), and Carlisle SynTec Systems (US).