Saurashtra News

Geocells Market Size Estimated to Grow at a CAGR of 8.6% During the Forecast Period 2022-2027

 Breaking News
  • No posts were found

Geocells Market Size Estimated to Grow at a CAGR of 8.6% During the Forecast Period 2022-2027

May 03
19:49 2022
Geocells Market Size Estimated to Grow at a CAGR of 8.6% During the Forecast Period 2022-2027
Geocells Market | IndustryARC
Increase in Infrastructure Projects Globally Increased the Demand for Geocells Market.

The Geocells Market size is estimated to grow at a CAGR of 8.6% during the forecast period 2022-2027 and will reach USD $872.3 million by 2027. Geocells, also known as cellular confinement system, are polymeric strips in honeycomb configurations that are used for erosion control, soil stabilization on flat ground and steep slopes, channel protection, and structural reinforcement for load support & earth retention. Geocells are widely used in infrastructure, oil & gas, and power & energy sectors. Typically, geocells are made up of high density polyethylene (HDPE) strips or Polypropylene (PP) strips among others. In this report, we will take a look at the various segments of the Geocells Market and analyze the market landscape, drivers, and challenges within the forecast period of 2022-2027.

COVID-19 Impact

During the COVID-19 Pandemic, many industries had suffered a decrease in demand, and it was no different for the Geocells Market. Many governments across the globe implemented lockdown regulations and factories & production facilities in many sectors came to a halt. The supply chain was greatly disrupted as many businesses followed the lockdown protocols. According to the Asian Infrastructure Investment Bank, as of August 2020, the United States local governments had either delayed or cancelled almost USD $10 billion worth in infrastructure projects due to the pandemic and the situation is the same all over the world. Geocells are primarily used in infrastructure hence the Geocells Market was negatively impacted during the pandemic. However, as of now, vaccinations are being carried out globally and the situation is improving as many governments are relaxing lockdown protocols. As such, the Geocells Market is forecasted to grow within the forecast period of 2022-2027.

Geocells Market Analysis – By Type

HDPE Geocells hold the largest share of 43% in type segmentation of Geocells Market within the forecast year of 2022-2027. High-density Polyethene strips help form strong configurations as they are ultrasonically bonded together. They have enhanced mechanical and geotechnical properties which make them ideal for use in geocells. They are either textured or smooth depending on the use of the application. According to Trademap, the total export of Polyethene is valued at USD $21.32 billion in the year 2020. Other than HDPE, Polypropylene (PP) is also widely used in geocells.

For More Information About Geocells Market @

https://www.industryarc.com/Research/Geocells-Market-Research-504412

Report Price : $ 4500 (Single User License)

Geocells Market Analysis – By End-Use Industry

Infrastructure holds the largest share of 37% in the end-use industry segment of Geocells Market within the forecast period of 2022-2027. Geocells are primarily used in applications like ground & soil stabilization, slope & channel protection, load support, and erosion control. According to the World Bank Group, 4% of the GDP of Central Asia and 5% of South Asia is spent on Infrastructure, while East Asia and Pacific witness 7.7% of GDP spending on Infrastructure as of 2019. The Middle East and North Africa spend 6.9% of their GDP on Infrastructure as of 2019. New Infrastructure projects are on the rise and the demand for Geocells has significantly increased because of it. Geocells are also used in the Mining, Oil & Gas, Agriculture, and Power & Energy sectors as well.

Geocells Market Analysis – By Geography

Asia-Pacific holds the largest share of 44% in the geography segment of Geocells Market within the forecast period of 2022-2027. The demand for better infrastructure has increased tremendously in the Asia-Pacific region especially in countries like China and India. Many different Infrastructure projects such as the Bharatmala project in India and the Belt & Road Initiative by the Chinese government are key factors that are driving the Geocells market in Asia-Pacific. As mentioned above, according to the World Bank Group, 4% of the GDP of Central Asia and 5% of South Asia is spent on Infrastructure, while East Asia and Pacific witness 7.7% of GDP spending on Infrastructure as of 2019. Due to this, the demand for geocells has seen a substantial increase in the Asia-Pacific region as well.

Geocells Market Drivers

Increase in Infrastructure Projects globally :

Many different infrastructure projects are emerging globally which are being planned for the future. For example, in India, there is the Bharatmala Project which aims to construct 34,800 kilometres of road pan-India and the Setu Bharatam Project which aims to build bridges. In Europe, there is the Rail Baltica project which aims to link Finland, Estonia, Latvia, and Lithuania with Poland through the European standard gauge rail line network. In the U.S., there is the California High-Speed Rail project which aims to significantly cut the rail journey time between San Francisco and Los Angeles. According to the Council on Foreign Relations, it is estimated that China invests 5.1% of its GDP on all the infrastructure projects planned from 2016-2040. It is followed by Indonesia at 4.1% of their GDP and Australia & India at 3.6% of their GDP on infrastructure projects planned from 2016-2040. Due to this, the demand for geocells have increased substantially and will continue to do so as they are used for various aspects of infrastructure construction like soil stabilization, erosion control, and channel & slope protection.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=504412

Geocells Market Challenges

Availability of substitutes :

Although geocells are highly desirable for infrastructure, there are other substitutes for geocells like geomembranes and geogrids. Like geocells, geogrids are used in the reinforcement of soils, walls, steep slopes, and roadway bases. Geomembranes are used as covers and liners in dams, canals, and the agriculture industry. As such, this can act as a hinderance to the growth of the Geocells Market.

Geocells Industry Outlook

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Geocells Market. The key companies in the Geocells Market are:

Strata Systems

Presto Geosystems

TMP Geosynthetics

PRS Geo-Technologies

Koninklijke Ten Cate B.V.

Armtec Infrastructure Inc.

PRS Mediterranean Ltd.

Maccaferri SPA

Tensar International Ltd.

ACE Geosynthetics

Recent Developments

On December 2020, Industrial Plastics announced the launch of two new products in their High-Density Polyethylene (HDPE) liner range, namely, Geotextiles and Geocells, across Australia.

Key Takeaways

Asia-Pacific holds the largest share by region due to the increase in demand for infrastructure.

HDPE geocells are the most commonly used geocells for various applications like soil stabilization, erosion control, and slope & channel protection.

Many infrastructure projects are globally planned for the future which is a great driver for the Geocells Market.

Relevant Reports

Geosynthetics Market

https://www.industryarc.com/Research/Geosynthetics-Market-Research-500358

For More Chemicals and Materials Market reports, Please Click Here

About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/

Related Articles