Impact of COVID-19 on Soil Stabilization Materials Market: Implications on Business
The soil stabilization materials market is poised to tread along a healthy growth trajectory, as per the latest research study by Transparency Market Research (TMR). According to the TMR research study, global soil stabilization materials market is likely to surpass US$ 25 Bn by the end of 2028, with sales growing at an impressive CAGR of over 6.5% over the assessment period.
According to the TMR report, end-users will continue to show marked preferences for minerals & stabilizers over other material types. Moreover, lime remains the most-favored type in the minerals & stabilizers space, as lime remains the one among the oldest and traditional solutions for soil stabilization purposes. As per the TMR analysis, demand for polymer is likely to grow at an impressive CAGR, owing to its ability to enhance physical properties of the soil.
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“China remains highly lucrative for the stakeholders in the soil stabilization materials market and is anticipated to grow at a CAGR of over 7% during the forecast period. Driven by a flourishing construction sector and high orientation toward infrastructural development, China is likely to create sustained opportunities for the manufacturers of soil stabilization materials over the forecast period”, says the TMR report.
The flourishing construction industry, with a mounting number of greenfield and brownfield projects, remains a precursor for growth of soil stabilization materials market. Burgeoning growth in population and rapid urbanization, notably across emerging economies, have predominantly fuelled investments in infrastructural development projects. This, in turn, has created favorable grounds for wide-spread adoption of soil stabilization materials. Moreover, rising need for high productivity in agriculture and improved yields is pegged to spur demand for soil stabilization materials for agricultural applications.
Rising focus of federal governments on infrastructural refurbishments and mushrooming investments in real estate are two among the major contributors for growth of soil stabilization materials market.
Well-established infrastructure is resulting in remarkable slowdown of the growth of soil stabilizers market across developed countries. Key developed nations, including the US, Germany, Japan, the UK, and others, have sound infrastructure for commercial, transport, and public sectors. This, in turn, is creating challenges for manufacturers of soil stabilization materials to look for untapped potential in these countries. The roads & runways segment is estimated to account for a significant value share and grow at an impressive CAGR of over 7% during the forecast period.
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Soil Stabilization Materials Market: North America, Western Europe, & China Remain the Highly Profitable Regions
As per the TMR research study, North America, Western Europe, and China are estimated to collectively hold more than 70% value share in the soil stabilization materials market. Moreover, all the regions are likely to witness fast-paced growth over the assessment period, except for Japan that is anticipated to witness a subdued growth.
North America and Asia Pacific are set to witness incremental growth in terms of demand for soil stabilization materials, unveils the TMR analysis. This growth can be attributed to the flourishing construction industry and launch of new infrastructure based projects, both in developed and developing economies.
Soil Stabilization Materials Market: The Competitive Landscape
According to the TMR report, the leading players in the soil stabilization materials market remain highly oriented toward strategic collaborations, including mergers and acquisitions, which play a key role in boosting their market sustenance. Moreover, key participants of soil stabilization materials market are also revising their marketing strategies in line with the latest trends in the end-user landscape, to expand their consumer outreach.
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