Geotextiles, an integral
product vertical of Geosynthetics Market, have been experiencing a preferential position in today’s
construction projects such as upkeep of roads, dams, harbors, airfields, and
canals. This is due to the fact that non-woven geotextiles provide viable
solutions to projects where conventional granular construction materials are
not readily available.
While civil workers were
initially reluctant of deploying these new filter materials, the notable
difference it has brought in designing the base and stabilizing the terrain,
has led to an increased geotextile consumption in repair activities. Aided by
the benefits of its inherent superior properties like permeability, retention,
porosity, retention, and tensile strength, experts claim that geotextile market
from pavement repair applications is expected to exceed USD 480 million in 2024.
The profitability quotient of geosynthetics industry is
market is forecast to escalate tremendously over the ensuing years, primarily
augmented by the transformative construction industry. In response to the
material being typecast as one of the well-established construction materials
for environmental and geotechnical applications, geosynthetics industry, in the
year 2016, pegged a valuation of USD 7 billion.
It goes without saying that these synthetic materials have
had played an instrumental role in resolving critical civil engineering issues
since decades, where deployment of conventional construction materials are
considerably restricted. However, research advancements of recent years have
widened the application horizon of geosynthetics market to such an extent where
construction workers are readily seeking to exploit the maximum potential of
the materials using more powerful construction methods and design.
A recent precedent aptly
depicting penetration of geotextiles in critical construction projects is
Canada’s permanent road to Arctic coast. Reportedly, the 120km highly
construction involved integrating of geotextile fabric between the road and the
ground by employing a fill technique that ensures projection of the permafrost.
Experts claim this to be one of the flagship projects that the regional
geosynthetics marketplace has lately witnessed, given the fact it is Canada’s
first ever road linking the country’s Artic coast with the towns of Inuvik,
which until now were only accessible by airplane.
Citing another noteworthy
instance in geosynthetics industry- recently the national airport in Minsk has
made to the headlines with the announcement of its plan of renovating the primary
runway. Amidst the various initiatives implemented by the regional government
under this runway reinforcement project, it is reported that the new runway
would comprise of a base layer that is reinforced with Multitex PET from
Machina. Allegedly, these geotextile-geogrid materials manufactured by Machina
not only deliver excellent runway reinforcement but also ensure proper drainage
support and soil separation.
The commercial production of geosynthetics
involves raw materials like PVC, polyethylene, polypropylene, EPDM, and
Polyester. Thus, it is quite conspicuous that any fluctuations in the price
trend of these intermediates would have a direct impact on the revenue graph of
geosynthetics industry, on account of their extensive demand from other burgeoning
domains. Companies partaking in geosynthetics market, in a bid to respond
to this challenge, are increasingly focusing on production capacity enhancement
and strategic collaborations to expand their business beyond regions. For
instance, toward the end of last year, Groupe Solmax, the Canadian based
geosynthetics market giant, acquired Quebec headquartered GSE Environmental
from a private equity firm named Littlejohn & Co. and funds owned by
investment manager, Strategic Value Partners.
Amidst such a backdrop
where smart construction, a blend of operational efficiency and environmental
viability, has become the prime focus of civil engineering sector, it is
undeniable that geosynthetics industry is yet to unfold a slew of
opportunities. Add to it, the stringent environmental norms enforced by
international regulatory bodies like EPA and REACH on constructional projects
will further play their cards in complementing the overall business growth in
the coming years. As per Global Market Insights, Inc., in terms of
commercialization, global geosynthetics market size is slated to exceed a
valuation of USD 12 billion by 2024.
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Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Social Media: Google+ | LinkedIn | Twitter | Facebook
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