Funds Flowing in the Direction

The use of geo-membranes in irrigation canals, dams, and decorative ponds are also expected to increase demand. High-density polyethylene (HDPE) as a raw material for manufacturing geo-membranes is globally preferred for its low cost advantages, ease of installation, and good chemicals resistance, accounting for 33 percent of the global geo-membrane market volume in 2015. The roadways construction, oil & gas operation, and water management activities in the Middle East are projected to witness the highest CAGR. The Asia-Pacific market is projected to witness the second-highest CAGR. The global demand for geo-membranes was 810 mn m2 for Ethylene Propylene Diene Terpolymer (EPDM) an extremely durable synthetic rubber roofing membrane, used as a raw material for the production of geo-membrane providing good flexibility, excellent mechanical strength, and effective UV resistance, according to Allied Market Research. It will generate the quickest growth at 6 percent CAGR. The global market for extruded geo-membranes was 487 mn m2 in 2015, making it the most widely utilized technology for manufacturing. Asia Pacific was the largest consumer of geo-membranes in 2015 accounting for a 34.3 percent global volume market share. The Low-density polyethylene (LDPE) segment is estimated to display the highest growth rate, in terms of revenue, registering a CAGR of 8 percent from 2016 to 2022. Asia-Pacific is projected to grow at the highest CAGR of 8 percent, in terms of volume while water management is projected to grow at the highest CAGR of 8.2 percent, in terms of revenue. Solmax International Inc. (Canada), Agru America Inc. (U.S.), NAUE GmbH & Co. KG (Germany), GSE Environmental LLC (U.S.), and Officine Maccaferri SpA (Italy) are some of the prominent market players. Meanwhile the global geo-textile market reached 4,500 mn m2 in 2015 and is likely to continue growth owing to its ability to prevent soil erosion, according to Grandview Research. The primary function of Geo-textiles is filtration, allowing water and other fluids to pass while the fabric retains different particles, a process used in drainage systems. Using the product as reinforcement improves the soil's structural stability on account of the tensile strength of the geotextile fabric. Geotextiles have gained popularity in the market due to performance and functional advantages over other materials. Growing urbanization, rising population coupled with increasing government investment for infrastructure development in various regions is expected to have a positive impact on the market over the next eight years.