The global soil stabilization materials market will expand significantly throughout the forecast period, primarily due to the constantly expanding construction industry. Additionally, rising demand for sustainable infrastructure and efficient road transportation for effective global and international trade would drive up global demand for soil stabilization materials.
The long-term forecast for the global soil stabilization materials market remains favourable, with the market value estimated at more than US$ 15.7 billion in 2018. It is estimated to reach US$ 29 billion by the end of 2028, increasing at a strong 6.6% CAGR. The minerals & stabilizers category is expected to have the largest value share among the material type segments over the projection period. The lime sub-segment is likely to lead the minerals & stabilizers segment during the projection period.
However, the polymer segment is expected to grow with a relatively higher CAGR, with significant growth in value share. Among all regions, China is expected to dominate the global soil stabilization market throughout the forecast period with a healthy CAGR of 7.0%. In this report, FMI sheds light on the drivers and restraints expected to impact the global soil stabilization materials market during the forecast period.
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Soil Stabilization Materials Market: Dynamics
The global soil stabilization materials market is expected to witness robust growth during the forecast period, mainly driven by the rapidly growing construction industry. Rapid population growth and escalated urbanization have boosted the building and construction industry in developing countries. Also, the increasing demand for sustainable infrastructure and increasing need for efficient road transportation to facilitate effective global & international trade are expected to surge the soil stabilization materials market across the globe. Increasing governmental focus on infrastructural development and rising investments in real estate have surged the growth of the construction sector. Increasing infrastructural investments by governments across Asia Pacific, North America and Western Europe are expected to lead to an increase in the number of roads, railways, bridges, pathways, etc., which in turn will escalate the soil stabilization materials market. Also, the increasing need for high agricultural productivity and the rising demand for high agricultural yield are pegged to boost the demand for soil stabilization materials from the agricultural sector. Also, other end-use applications such landfilling and increasing sports activities due to the growing attention towards sports are slated to ramp up the consumption of soil stabilization materials.
Soil Stabilization Materials Market: Segmentation Analysis
The global soil stabilization materials market has been segmented on the basis of application type into industrial, non-agriculture and agriculture.
- On the basis of application, the industrial segment is estimated to dominate the global soil stabilization materials market in terms of value over the forecast period
- Under the industrial segment, the roads and runways sub-segment is expected hold the lion’s share in terms of value and grow with a significant CAGR of 7.2%
Soil Stabilization Materials Market: Regional Forecast
From a regional perspective, China, North America and Western Europe are expected to collectively account for over a 70% value share in the global soil stabilization materials market. All the regions are expected to witness sound growth, except Japan, which is expected to exhibit slow growth with a CAGR below 5%. Regions such as North America and Asia Pacific are expected to register significant growth with CAGRs above 7%. The growth of the construction industry across the globe and the launch of new governmental projects in developing and developed economies are projected to drive the demand for soil stabilization materials.
Soil Stabilization Materials Market: Competition Landscape
Some of the key players identified during the study of the global soil stabilization materials include Graymont Limited, Carmuse, Low & Bonar PLC, Tensar Corporation, Boral Limited, Adelaide Brighton Limited, Sibelco Australia Ltd., Ube Industries, Ltd., Lhoist and Thrace Group, among others.
Soil Stabilization Materials Market: Segmentation
- Minerals & Stabilizing agents
- Portland Cements
- Agriculture Waste
- Sludge & Slag
- Roads, Runways
- Non Agriculture
- North America
- Western Europe
- SEA & Other APAC
- Latin America
- Eastern Europe
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