Geocells is Estimated to Witness High Growth Owing to Opportunity of Soil Retention Uses
Geocells are cellular confinement systems made from high-density polyethylene, polypropylene, or other high strength, high-density polymers. Geocells are used for soil retention, slope protection, channel protection, subgrade improvement, and temporary roads. Geocells allow stability and aid vegetation growth when used for slope protection and erosion control applications.
The global geocells market is estimated to be valued at US$ 1915 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity:
The increasing use of geocells for soil retention presents a major market opportunity. Geocells are increasingly being used underneath topsoil or landscaping materials to prevent soil erosion and promote plant growth. They help to retain the existing soil structure underneath roads, pathways, and slopes. With growing infrastructure development projects and construction activities, the need for better soil retention techniques is rising. Geocells provide effective soil retention solutions and help distribute the weight evenly across large areas. Their usage has increased significantly for road construction projects, slope protection, and erosion control on riverbanks and coastal regions. As soil erosion continues to be a massive problem, the demand for geocells is expected to grow substantially in the coming years.
Porter's Analysis
Threat of new entrants: Low due to high capital requirements and economies of scale.
Bargaining power of buyers: Moderate as geocells market has many established players.
Bargaining power of suppliers: Low due to availability of substitutes and less differentiation in products.
Threat of new substitutes: Moderate threat from new substitutes like geogrids and geomembranes.
Competitive rivalry: High due to many global and regional players competing on basis of product quality and pricing.
SWOT Analysis
Strength: Durability, multi-purpose use in construction, reinforcement ability.
Weakness: High manufacturing cost, requirement of technical skills.
Opportunity: Growing infrastructure and construction sectors, urbanization driving demand.
Threats: Substitute products, fluctuation in raw material prices.
Key Takeaways
The Global Geocells Market Growth is expected to witness high due to rising infrastructural development activities across the world. The global geocells market is estimated to be valued at US$ 1915 Mn in 2023 and is expected to exhibit a CAGR of 3.0% over the forecast period 2023 to 2030.
The Asia Pacific region dominates the market and is expected to maintain its leading position over the forecast period due to rapid urbanization and economic growth in China and India. Europe is also forecast to exhibit significant growth owing to major infrastructure projects being undertaken in the region. Government initiatives to improve transportation networks will support demand for geocells in road construction applications.
Key players operating in the geocells market are Kweichow Moutai Co., Ltd., Wuliangye Yibin Co., Ltd., Luzhou Laojiao Co., Ltd., Yanghe Distillery Co., Ltd., Fen Chiew Group Co., Ltd. Geocells find extensive applications in civil engineering projects for slope protection, channel lining, retaining walls etc. They alleviate issues of soil erosion, provide stability and act as low permeable barriers.
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