Global Geocells Market, By Material Type (High-density Polyethylene (HDPE), Polypropylene (PP), Others), By Application (Soil Stabilization, Soil Erosion Control, Channel Wall Protection, Retaining Walls, and Geo membrane Protection, Load support/Tree root protection, Slope protection, Road verge control, and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 677.1 Mn in 2023, and is expected to exhibit a compound annual growth rate (CAGR) of 8.70% during the forecast period (2024-2031), as highlighted in a new report published by Coherent Market Insights.
Geocells are referred as cellular confinement systems, and are widely used across a range of environmental applications such as soil stabilization, earth reinforcement, channel protection, and erosion control. Geocells are lightweight, durable, and three-dimensional systems. These are produced by using different materials such as polypropylene, High-Density Polyethylene (HDPE), polyester, and other polymeric alloys.
Global Geocells Market – Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019, as "coronavirus disease 2019" or COVID-19. This virus spreads quickly, and had a serious negative impact on the economies, social behaviour, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems regarding the transportation of things from one place to another.
The outbreak of the COVID-19 pandemic has put all business activities on hold. The construction and machinery industry are one of the sectors most affected by the pandemic due to various restrictions imposed by the government, which have ceased all construction and commercial activities. As the situation improves, major players are looking forward to regain their position in the market by adopting various growth strategies.
The outbreak of the COVID-19 pandemic has severely affected the global geocells market. Since the outbreak of the pandemic, most of the infrastructural development projects have come to a halt due to the nationwide lockdowns and restrictions on national and international transport. This has resulted in a significant decrease in the demand for geocells in the market.
Link - https://www.coherentmarketinsights.com/market-insight/geocells-market-2499
Key Takeaways of the Geocells Market:
- Global geocells market is expected to exhibit a CAGR of 8.70% during the forecast period
- It profiles key players in the global geocells market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Presto Geosystems, Polymer Group Inc., Strata Systems Inc., Armtec Infrastructure Inc., Maccaferri SPA, PRS Mediterranean Ltd., Maccaferri SPA, and Tensar International Ltd.
