Geomembrane Market to Witness High Demand from the Aquaculture Industry | Technavio

The global geomembrane market is expected to grow at a CAGR of more than 9% during the period 2017-2021, according to a new market research study by Technavio.

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The report presents a detailed analysis of the global geomembrane market by application (mining, water management, waste management, and tunnel and civil construction) and by raw materials (HDPE, LDPE, PVC, and EPDM). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

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Market driver: increasing use of geomembranes in agriculture and aquaculture

Various organizations, such as Food and Agriculture Organization (FAO) of United Nations, work toward the economic and social welfare of countries. The aquaculture and agricultural segment in the geomembrane market has seen a gradual growth. Aquaculture farming is practiced in both developed as well as emerging economies with poor farmers as well as multinational companies contributing to the sector. In addition, the growing number of aquarists and rising interest in decorative ponds with marine life in commercial areas is also increasing.

According to Hitesh Bhatia, a lead analyst at Technavio for metals and minerals research, "Geomembranes are used as covers for aerobic and anaerobic manure digesters in the agriculture industry. They are also used to secure water containment, control water quality, and prevent the spread of disease among aquatic life. Geomembranes can be used for such purposes as they have low permeability and high ultraviolet resistance properties. These can also be disinfected, cleaned and reused, making them suitable for marine life. All these factors are helping to drive the global geomembrane market."

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Market trend: growing development of robust geomembranes

Geomembranes are being used for a wide variety of applications, such as liners for waste, radioactive, hazardous materials, and water conveyance canals. They are also used as a cover for landfills, power plants, and provide waterproofing solutions. With the growing applicability of geomembranes, the need for strong, robust, and rigid geomembranes is rising. A Spain-based company Atarfil has launched an advanced polypropylene geomembrane ATARPOL. It withstands in extreme conditions and offers maximum resistance, durability, flexibility, and greater stability.

Market challenge: fluctuation in the price of raw materials

The manufacturing of geomembranes requires raw materials such as polymer resin, plasticizer, HDPE, PP, and colorants, which are imported from different countries. The final price of the products depends on prices of raw materials and their supply. The volatility in the crude oil prices globally has a severe effect on the raw material prices, which affects the final cost of geomembranes.

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Key vendors in the market

• Atarfil
• AGRU America
• GSE Environmental
• NAUE
• Solmax

The competition in the global geomembrane market is moderately high due to the presence of both global and regional players. The market is dominated by global vendors such as GSE Environmental, Solmax, Atarfil, AGRU America, and NAUE. Companies are expanding their global presence to maximize product reach. They are also very competitive when it comes to offering a wide variety of choices in the geomembrane market. For instance, Atarfil offers around 13 different products and GSE Environmental offers around eight different products in the geomembranes segments.

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