The Global Geosynthetics Market is estimated to driven by Infrastructure Development
Market drivers
The growing investment in transport infrastructure such as roads, railways, bridges, and ports due to mega infrastructure projects is a major factor fueling the Geosynthetics Market Growth. Governments across the world are spending heavily on infrastructure development to support economic growth. Rapid urbanization is also creating the need for new residential and commercial construction, which in turn is boosting the consumption of geosynthetics.
Impact of geopolitical situation on Geosynthetics Market growth:
The global Geosynthetics market is facing challenges due to the ongoing geopolitical tensions. The ongoing Russia-Ukraine war has disrupted the global supply chains of raw materials required for manufacturing geosynthetics. Ukraine is a major exporter of metals like steel used in manufacturing reinforcement geosynthetics. With the war halting steel exports from Ukraine, steel prices have risen sharply impacting production costs for geosynthetics manufacturers globally. Meanwhile, western sanctions on Russia are limiting access to mineral resources from the country. This is affecting the supply of minerals like titanium dioxide used in coating geosynthetics to make them UV resistant. Rising raw material prices and constrained supplies are hampering production schedules of manufacturers.
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