U.S. Geosynthetics Market Share, Revenue, Demand, Trends, Growth Drivers, CAGR Status, Competition and Future Investment Opportunities 2033


U.S. Geosynthetics Market Share, Revenue, Demand, Trends, Growth Drivers, CAGR Status, Competition and Future Investment Opportunities 2033: SPER Market Research

 Category : Chemical & Materials

 Published: May-2024
 Author: SPER Analyst

United States Geosynthetics Market is projected to be worth 4.88 billion by 2033 and is anticipated to surge at a CAGR of 6.35%.

Geosynthetics are synthetic materials made from polymers such as polypropylene, polyester, and polyethylene. They are most commonly employed in civil engineering and construction projects to improve the overall performance and longevity of infrastructure. Geosynthetics provide a variety of roles, including separation, filtration, drainage, reinforcement, and containment. These materials offer cost-effective solutions for a variety of applications, including transportation, environmental, and geotechnical engineering.

United States Geosynthetics Market Driving Factors and Challenges

Driving Factors: The geosynthetics market in the United States is expanding rapidly, owing to the increasing use of these polymeric materials in a variety of industries. These materials, which include geotextiles, geogrids, geonets, and geomembranes, play an important role in a wide range of applications, including erosion control, filtration, landfills, drainage, and civil engineering projects. In the United States, the geosynthetics market is distinguished by its low cost, durability, and adaptability, making these materials critical to the performance of industrial activities in sectors including as mining, transportation, and agriculture. Aside from that, the market's growth is being fueled by the awareness of geosynthetics' ability to improve the mechanical and physical properties of soil, hence giving resistance against harsh weather conditions.

Challenges: The raw material needed to make expanded polystyrene (EPS) geofoam is polystyrene polymer. The material is subject to petroleum prices due to the usage of resins in the production of geofoam, which is a petroleum byproduct. Geotextiles are made from natural fibers like jute and coir, as well as synthetic fibers like polypropylene, polyester, and polyethylene. Changes in demand and supply for such raw materials are anticipated to have a negative impact on the industry's outlook. However, synthetic materials are extracted from crude oil. Thus, fluctuations in crude oil or petroleum prices can have a considerable impact on the US geosynthetics market and act as a barrier to industry expansion.

Impact of COVID-19 on United States Geosynthetics Market
Due to the COVID-19 outbreak, the country imposed restrictions on supply, distribution, and transportation of finished goods and raw materials, affecting the market's value chain. With the lockdown and rules in place throughout the United States, many enterprises' ongoing building projects were halted, resulting in job losses and a decrease in revenue generation. Due to the economic downturn, most investors are hesitant to invest in new construction projects. Crude oil prices fell sharply on COVID-19, entering negative territory. A surplus of crude oil due to a drop in demand resulted in a shortage of storage capacity. This has a detrimental impact on plastics prices.

United States Geosynthetics Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; GSE Environmental, Texel Technical Materials, Inc, SKAPS Industries, Fibertex Nonwoven A/S, Tensar International Corporation, HUESKER, Strata Systems, Inc, AGRU AMERICA, INC, Berry Global, Inc, Nilex Inc, and Maccaferri Inc are a few of the major companies operating in the market.

United States Geosynthetics Market Segmentation:

By Product: Based on the Product, United States Geosynthetics Market is segmented as; Geotextiles, Geomembranes, Geogrids, Geocells, Geonets, Geosynthetic Clay Liner, Pre-Fabricated Vertical Drains, Others.

By Type: Based on the Type, United States Geosynthetics Market is segmented as; Woven, Non-Woven, Knitted, Others.

By Material: Based on the Material, United States Geosynthetics Market is segmented as; Polypropylene, Polyester, Polyethylene, Polyvinyl Chloride, Synthetic Rubber, Others.

By Application: Based on the Application, United States Geosynthetics Market is segmented as; Road Construction and Pavement Repair, Railroads, Drainage Systems, Soil Reinforcement and Erosion, Water and Waste Management, Others.

By Region: This research includes data for West United States, East United States, North United States, South United States.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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