Geomembranes Market Expands Due to Business Opportunities in Mining Industry, Notes Study by TMR
– Increase in the number of water management and waste management projects across the globe is driving sales avenues in the geomembranes market
– Players are focusing on advancing productivity and efficiency of their processes
– The global geomembranes market is expected to be valued at US$ 4.5 Bn by 2031
ALBANY, N.Y., March 10, 2022 /PRNewswire/ — The global geomembranes market is expected to register growth at a CAGR of 7.7% during the forecast period of 2021 to 2031, according to a research report by Transparency Market Research (TMR).
Players operating in the global geomembranes market are focused on increasing the efficiency and productivity at their plants. Furthermore, many market enterprises are investing heavily in R&D projects in order to expand product innovation. Companies in the global market are using different strategies such as collaboration agreements in order to maintain their leading positions in the global market.
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Geomembranes Market: Key Findings
- With surge in the pollution levels across the globe, there has been an increase in the need for addressing several critical issues, including extreme weather events and global warming. This factor is resulting in profitable prospects in the global geomembranes market.
- Due to increase in urbanization and industrialization globally, rise in waste generation is observed around the world. Government as well as private organizations from several countries are taking initiatives in order to achieve precise waste management, thereby lowering the levels of pollution. This factor is creating sizable opportunities for revenues gains in the global geomembranes market.
- Geomembranes liners are being utilized in different water management and waste management projects. These products are waterproof and manufactured using plastic. Hence, they are used for sealing dams, reservoirs, and canals. Moreover, surge in the number of waste and water management activities globally is resulting in sales in the geomembranes market. Furthermore, growing focus of several developing and developed nations on the infrastructure development activities is bolstering the market for geomembranes.
- Geomembranes are gaining traction, owing to their ability to stop leakage of leachate. Besides, geomembranes find wide applications in the mining industry such as ditch and canal liners, pond liners, and bottom liners. Some of the important reasons for rise in the adoption of geomembranes in the mining industry include their ability of offer sturdy access roads, safety-enhancing and space-saving retaining structures, and highly efficient barriers. Hence, the expansion of the mining industry is projected to offer significant business prospects in the global geomembranes market.
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Geomembranes Market: Growth Boosters
- Surge in the use of geomembranes in mining, plastics, agriculture, and construction industries is propelling the global geomembranes market
- Increase in the use of geomembranes in the treatment of inorganic waste, including harmful heavy metals is fueling the global geomembranes market growth
- Rise in demand for clean drinking water globally is projected to lead to revenue-generation opportunities in the global market for geomembranes
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Geomembranes Market: Regional Analysis
- The geomembranes market in North America is prognosticated to gain prominent business avenues in the upcoming years, owing to many factors such as existence of key players, surge in the number of mining activities, and increase in use of geomembranes in water and waste management industry
- The Asia Pacific geomembranes market is likely to expand at a rapid pace during the forecast period, owing to the presence of many emerging economies, rise in urbanization and industrialization, and surge in the number of mining activities in the region
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Geomembranes Market: Key Players
Some of the key players profiled in the report are:
- Agru America Inc
- Solmax International Inc
- Geosynthetics Limited
- Exxon Mobil
- Plastika Kritis S.A.
- Carlisle Syntec Systems
- Firestone Building Products
- JUTA A.S.
- NAUE GmbH & Co. KG.
- Officine Maccaferri SpA
- Raven Engineered Films
Geomembranes Market Segmentation
- Blown Film
- Cast Film
- <1 mm
- 1-2 mm
- 2-3 mm
- >3 mm
- Waste Management
- Water Management
- Agriculture (Water Reservoir & Canals, Covers, Aquaculture, and Others)
- Others (Temporary Covers and Marine Industry)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
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