Rapid population growth and urbanization has heightened demand for building and construction materials on a global scale. Infrastructure projects in countries such as China and North America will be primarily driving consumption of soil stabilization materials.
Keeping safety in mind, providing efficient & reliable infrastructure is top priority for government. This situation has raised demand for superior quality soil stabilization materials during construction. As per recently published report on global soil stabilization materials market by Fact.MR, the market will witness a growth of 5% and surpass a valuation of US$ 29 Bn by 2027 end.
Key Takeaways from Global Soil Stabilization Market
- Global soil stabilization materials market is expected to create a value opportunity of around US$ 11.1 Bn during the forecast period
- Despite losing significant market share by 2027, minerals & stabilizers based soil stabilization materials are forecast to account for more than one third of total absolute $ opportunity created in the market over the forecast period
- In the past decade, polymer based soil stabilization materials have gained impetus and are forecast to gain 893 BPS by 2027 end
- Demand for soil stabilization materials for industrial applications account for around half of the market share throughout the forecast period. Owing to rapid upsurge in demand for effective transportation, soil stabilization materials for roads & runways will dominate demand pie in this segment
- China dominates global soil stabilization materials market in 2019, accounting for over one third of revenue share, rise in real estate investment will support the region’s growth
- Europe and North America have witnessed significant infrastructural growth during the last two decades and thus, have been the hubs for soil stabilization materials manufacturers and suppliers
- Global soil stabilization materials market is highly fragmented in nature, with Raymont Limited, Carmuse, Low & Bonar PLC, and Tensar Corporation as some of the notable players
“Soil stabilization materials are primarily used to enhance the load bearing capacity, overall performance and tensile strength of the soil, which enhances lifespan of constructed infrastructure. Thus, it is anticipated to witness robust growth in sync with rising infrastructure development worldwide.” says a Fact.MR analyst.
Fierce Competition at Global Level, Companies Eying Collaboration to Strengthen Supply Channels
Global soil stabilization materials market is highly competitive due to presence of a large number of global and regional players. Prominent companies hold relatively less share due to high competition from local players that operate at low profit margins and have better penetration in the regional markets. Furthermore, owing to availability of cheap imported soil stabilization products from countries like China, Taiwan and others, manufacturers’ focus has completely shifted towards collaboration with these players.
Minerals & Stabilizing Agents Gain Traction in Global Soil Stabilization Materials Market, Polymers Catching Up
Minerals & stabilizing agent based soil stabilization materials are expected to maintain their supremacy in the global market throughout the forecast period. The use of lime as a soil stabilizing material is flourishing and thus, the segment is pegged to be a prominent one in the soil stabilization materials market.
Furthermore, contribution of numerous global and regional players in the soil stabilization materials market has compelled manufacturers to offer innovative products. However, recent past has witnessed resurgence of polymer based soil stabilization materials. Rising popularity of polymers in this application can be attributed to their low cost and extended operational life.