PUBLISHER: Grand View Research | PRODUCT CODE: 1553433
PUBLISHER: Grand View Research | PRODUCT CODE: 1553433
The global HDPE and LLDPE geomembrane market size is expected to reach USD 1.97 billion by 2030, growing at a CAGR of 5.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. This growth is attributed to the increasing shale gas production in the U.S. and Canada. The growth of the mining industry in China, Australia, South Africa, and Chile, owing to the regulatory support for promoting investments and increasing metal demand at the domestic level, is expected to promote the application of landfill coverings and containment control, which is expected to fuel the demand for HDPE and LLDPE geomembranes.
Moreover, the prevalence of large mining companies in China, such as Shenhua Group, China Coal Energy, Shaanxi Coal and Chemical Industry, Yanzhou Coal Mining, China Coal Technology & Engineering, and Tongling Non-Ferrous Metals Group, along with the presence of supportive government agencies, including Ministry of Land and Resources of the People's Republic of China and State-owned Assets Supervision and Administration Commission are projected to augment the growth of the mining industry further. These factors are expected to boost the demand for HDPE and LLDPE geomembranes over the forecast period.
The flourishing agriculture industry in India, Brazil, China, France, the U.S., and Russia is expected to enhance the demand for HDPE and LLDPE geomembranes. These geomembranes are liners in irrigation canals, reservoirs, and ponds to prevent water loss and groundwater contamination. Moreover, the durability and UV radiation resistance of HDPE and LLDPE geomembranes make them an ideal choice for agricultural and aquaculture applications, wherein exposure to sunlight and weather can cause building materials to degrade over time.
However, rising awareness regarding the environmental effects of HDPE and LLDPE geomembranes manufactured using synthetic raw materials will likely boost the need for biodegradable and environment-friendly raw materials. This has resulted in technological advancements in bio-based polymers in geomembrane manufacturing. However, the high cost associated with utilizing these polymers is anticipated to pose a challenge for product demand.
The market for HDPE and LLDPE geomembranes is governed by several regulations and standards related to their use and minimum thickness. Several agencies, such as the Bureau of Indian Standards, the U.S. Environmental Protection Agency, and the Environment Agency, have formulated HDPE and LLDPE geomembrane regulations. These regulations have also been implemented on the requirements and test methods for producing HDPE and LLDPE geomembranes.