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Posted by jamiecooke on May 16, 2024 at 2:52am 0 Comments 0 Likes
Syndicated Analytics' latest report titled “Cement Capsules Manufacturing Plant Project Report 2024: Industry Analysis (Market Performance, Segments, Price Analysis, Outlook), Detailed Process Flow (Product Overview, Unit Operations, Raw Materials, Quality Assurance), Requirements and Cost (Machinery, Raw Materials, Packaging, Transportation, Utility, Human Resource), Project…
ContinueThe global Geomembrane Market size is expected to reach USD 3,132 million by 2030, as per a new report by Grand View Research Inc. The market is expected to expand at a CAGR of 5.2% from 2022 to 2030. Increasing shale gas production capacity in the U.S. and Canada, and an increase in mining activities in South America are expected to drive market growth in the forecast period.
One of the major consumers of geomembranes is the mining industry. Geomembrane acts as containment in the form of a hydraulic barrier to water and some gases for landfill applications. They have environmental applications as they exhibit properties such as easy installation, mechanical & hydraulic consistency, versatility, and cost-effectiveness. This is expected to drive the market.
The application of geomembrane is growing in several industries including petrochemical, construction, and wastewater treatment. The increasing spending on infrastructure and rising awareness of water management is expected to further drive the market during the forecast period.
However, fluctuations in the prices of crude oil are the major factor that is restraining the growth of the market. Most of the raw material for geomembranes is petroleum-based and is vulnerable to volatility in the prices of crude oil. The fluctuations in crude oil prices directly affect the price of the raw materials required for geomembranes.
Related Press Release@ Geomembrane Market Report
Geomembrane Market Report Highlights
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