South Asia Geosynthetics Market Expected to Grow at a CAGR of 12.7%, 2027

Posted by Monica Nerkar on May 19th, 2017

The geosynthetics market in South Asia is estimated to be valued at more than US$ 800 Mn, pegged at 544.3 Mn meter square in terms of volume, by 2017 end. The South Asia geosynthetics market is expected to register a value CAGR of 12.7% over the forecast period (2017–2027) to reach over US$ 2,650 Mn by 2027 end. In volume terms, the market is expected to increase at a CAGR of 12.6% over the forecast period to account for 1,781.4 Mn meter square by 2027 end. ASEAN dominated the geosynthetics market in South Asia during 2016, accounting for 37% share in terms of volume.

Growing usage of geosynthetics in road and rail infrastructure development to drive the South Asia geosynthetics market

Geosynthetic materials are extensively used in road construction projects. They are mainly used for the purpose of subgrade separation and stabilisation, base reinforcement, filtration and drainage facility along with overlay stress absorption and reinforcement. Geosynthetics also has application in the construction of railway lines where it improves stress propagation and provides better stability. Governments in the South Asia region are planning to invest heavily in the development of road and rail infrastructure, which is bound to fuel the demand for geosynthetics in the South Asian market. A pertinent example of this could be of the Indian government that is expected to invest as much as US$ 14 Bn for road infrastructure development during 2016-2017. The construction of national highways to the tune of approximately 10,000 km is in the process of approval.

Request Report Sample@ http://www.futuremarketinsights.com/reports/sample/rep-as-3849

The Indian government also plans to increase the existing road network from 96,000 km to 200,000 km over the coming years. In a similar trend, the ASEAN countries are expected to boost their investment in developing road infrastructure through significant investments made by the government or through FDI. The countries in this region are investing a huge sum of money to increase connectivity in the peninsular region. Brunei Darussalam is building one of the longest bridges (around 30 km) to connect Muara with Temburong. Various other projects, such as the construction of a 174 km highway in Cambodia and a 2,700 km Trans-Sumatra toll road in Indonesia are some of the billion dollar investment projects in the region, which are estimated to boost the demand for geosynthetics in the coming years.

Increased cost of construction and a lack of skilled labour hampering the growth of the South Asia geosynthetics market

Even though geosynthetics offers several advantages in construction, contractors often hesitate to use geosynthetic materials as it increases the overall cost of construction. The construction of roads, canals, dams or any other project may require the application of several layers of different geosynthetics in order to serve the purpose. In addition, the application of geosynthetic materials requires high-cost specialised equipment and highly skilled personnel. The shortage of both discourages contractors to opt for geosynthetics in different construction projects. Moreover, there is a lack of awareness amongst the construction companies and contractors about the long-term benefits of geosynthetics and this further impedes their utilisation in different construction projects. These factors are expected to restrict the growth of the South Asia geosynthetics market during the forecast period. However, the future impact of these factors is expected to decrease as cost-effective production techniques are expected to replace the conventional methods of manufacturing geosynthetics over the coming years.

South Asia Geosynthetics Market Attractiveness Analysis, by Application

Among applications, the road (paved & unpaved) application segment is estimated to remain lucrative in terms of both value and volume during the forecast period. The road segment is estimated to be valued at over US$ 375 Mn in 2017 and is expected to register a CAGR of 14.0% to reach a value of over US$ 1,400 Mn by the end of 2027. In terms of volume, the road application segment is estimated to witness deployment of 258.7 Mn meter square of geosynthetics in 2017, which is expected to increase to 962.8 Mn meter square by the end of 2027. In terms of value, the landfills and erosion control application segment is estimated to be valued at more than US$ 100 Mn by 2017 end and is expected to register a CAGR of 12.9% to reach a market value of nearly US$ 340 Mn by the end of 2027. The application of geosynthetics in dams, riverbanks and waterworks is expected to grow significantly during the forecast period with a CAGR of 12.6% in terms of value.

Send An Enquiry@ http://www.futuremarketinsights.com/askus/rep-as-3849

Providing high performance and innovative products at competitive costs to gain market share is a key strategy adopted by market players

The geosynthetics market all over the world has witnessed a phenomenal growth over the last few years with the construction industry acting as a catalyst to this growth. The above average GDP growth in developing South Asian countries such as India, Vietnam, Indonesia, etc. is leading to a high growth of construction activities in the region, which in turn has been the key driving factor for an increasing demand for geosynthetics. The market, in sync with the overall economic growth of the region, has been significantly opportunistic and high demand for geosynthetics is expected to arise for their application in various type of construction projects.

Reaching out to end-customers with prime distributors/EPC companies can provide significant growth opportunities for manufacturers of geosynthetics to increase their revenue generation from various local and regional markets. However, due to the presence of a large number of manufacturers, the geosynthetics market is becoming highly competition intensive. Development of high performance products with new production technologies and making them available at competitive costs is expected to provide high growth opportunities to manufacturers in the long run.

Browse Full Report@ http://www.futuremarketinsights.com/reports/south-asia-geosynthetics-market