An Incisive, In-depth Analysis on the South Asia Geosynthetics Market
This study offers a comprehensive, 360 degree analysis on the South Asia Geosynthetics market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global South Asia Geosynthetics market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
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.
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.
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.
Future Market Insights in its latest report titled ‘Geosynthetics Market: South Asia Industry Analysis and Opportunity Assessment 2017 – 2027’, presents a comprehensive and a detailed outlook on the South Asia geosynthetics market. The report starts with an executive summary that gives the market outlook of the South Asia geosynthetics market consisting of the pertinent market numbers, CAGR of the market during the forecast period 2017 – 2027, and market volume numbers in terms of million square metre of geosynthetics consumed. The market overview also lists the most important region in the South Asia geosynthetics market and the corresponding market share of that particular region. The executive summary also contains a brief mention of the drivers, restraints and opportunities present in the South Asia geosynthetics market so that the report audience get to know in brief the important factors impacting the growth of this market. Also, a list of important market players operating in the South Asia geosynthetics market is also given in the executive summary.
The executive summary also lists the various segments in the South Asia geosynthetics market and their market value split for the year 2016. At the end of the executive summary, Future Market Insight analysis is presented, which is a concise and yet informative representation of the overall market approach of the leading players operating in the South Asia geosynthetics market and also the target segment and the target region that are most attractive in this market. The differentiating strategies of key market players operating in the South Asia geosynthetics market is also listed in the executive summary. The section that follows is the market introduction section that gives the market definition explaining what this market is all about and the explanation of the different products, materials, primary functions and the applications of geosynthetics. After this, there is a section devoted to the market taxonomy.
Market Taxonomy
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By Product Type |
By Material |
By Primary Function |
By Application |
By Region/Country |
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After the market taxonomy, there is a section of the report devoted to South Asia geosynthetics market analysis scenario that gives the pricing analysis of various geosynthetics by product type in various regions as mentioned in the market taxonomy. Prices are calculated on a weighted average price model, based on percentage volume sales for the year 2016. After this, geosynthetics market value chain analysis is given from which we can infer that the South Asia geosynthetics market is characterised by the significant presence of local manufacturers and distributors serving products of different qualities. A section of the report is devoted to the market dynamics of the South Asia geosynthetics market. In this detailed and comprehensive section, the drivers, restraints, opportunities and trends operating in the South Asia geosynthetics market are explained in detail. Through this informative section, the report audience can gather a sense of direction of where the market is heading. This section gives a detailed explanation of all the factors that are encouraging and challenging the growth of the South Asia geosynthetics market. After the market dynamics, the subsequent sections of the report give the South Asia geosynthetics market analysis and forecast by product type, by material, by primary function, by application, and by region/country. In these sections, important information on the South Asia geosynthetics market is presented like the Basis Point Share analysis, year-on-year growth projections, incremental dollar opportunity and market attractiveness analysis.
Last but not the least, there is an entire section of the report devoted to the competition landscape of the South Asia geosynthetics market. This competition landscape gives a dashboard view of the key companies operating in the South Asia geosynthetics market along with their important information and broad strategy adopted to stay as leaders in the South Asia geosynthetics market. Each of the leading companies is also profiled individually and important information about the company such as company details, company description, product portfolio along with key developments concerning the company and strategic analysis is presented. A SWOT analysis of each leading market player is also presented which gives detailed information about the strengths, weakness, opportunities and threats that the company is dealing with. This competition landscape is the most important section of the report as it imparts a deep understanding of the leading companies operating in the South Asia geosynthetics market and is valuable for new entrants in the field to get a learning about how the companies are leading this lucrative market and also for the established market players to get a better understanding about their competitors.
Research Methodology
Overall market size has been analysed through historical data, primary responses, and public domain data. Revenue of companies operating in the geosynthetics market has been benchmarked to ascertain the market size for the base year. Macroeconomic indicators such as GDP and industry growth have been considered to forecast the market size over the assessment period. The historical growth trend of end-use industries, market participants’ performance, as well as the present macro-economic outlook has been taken into consideration for estimating the overall market trend forecast. This data is then validated using the triangulation method and is extensively scrutinised using advanced tools to garner quantitative and qualitative insights into the South Asia geosynthetics market.
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