A geomembrane is fluid-repellent synthetic thin sheet of rubber or plastic, which predominantly works as liquid or vapor barrier. It is used primarily for linings and covers of liquid or solid storage and in waste disposal facilities. A geomembrane plays vital role in industrial and commercial applications due to is mechanical properties such as tear impact and puncture resistance, stress cracking, tensile strength, and elongation.
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Increasing municipal and industrial waste worldwide is a key factor driving demand for geomembrane in the waste management industry and municipal corporations. For instance, according to The World Bank, the worldwide annual municipal waste generation was 2.01 billion tons in 2016 and is expected to reach 3.4 billion in 2046
Furthermore, significant growth in agriculture and fish farming or pisciculture is expected to propel growth of the geomembrane market. For instance, according to Food and Agriculture Organization (FAO) of United Nations, production of fish farm is expected to contribute nearly two thirds of India’s fish supply by 2030. Moreover, India is the world’s third largest fish producer. In 2016, India’s fish production was pegged at 10.8 million tons, which is expected to reach 13.4 million tons by 2030.
The geomembrane market in Asia Pacific is expected to witness significant growth, owing to rapid industrialization and established mining industries. For instance, according to China Gold Association and China International Mining Group, China is one of the largest producer of minerals, gold, copper, and iron ore, as the country supplies around 70% of the world’s iron ore and 40% of copper demand. Moreover, according to a report published by Asia-Pacific Economic Cooperation (APEC) in 2016, the total number of mining industries in China was around 1,70,000 (middle and large size) and the mining industry in the country is growing with an average contribution rate of 5 % to annual GDP.
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Key Players in the Global geomembrane Market:-
Key players operating in the global geomembrane market include, Groupe Solmax, NAUE Group, AGRU America, Inc., Carlisle SynTec Systems, Sotrafa S.A., Atarfil, Alpharetta, TDM Group, Aquatan, RAVEN, and others
Key players in the market are focused on adopting merger and acquisition strategies in order to enhance their market share. For instance, in December 2017, Groupe Solmax, a producer of polyethylene geomembrane, acquired GSE Environmental.