Soil Stabilization Market is anticipated to grow at a CAGR of ~4.3% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Soil Stabilization Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global soil stabilization market is estimated to be over US$ 40.02 Bn in 2019. It is anticipated to grow at a CAGR of ~4.3% from 2019 to 2030.
The significant growth of soil stabilization market can be attributed to the rising population which in turn has led to increasing construction activities. Moreover, factors such as increasing awareness regarding soil practices and the benefits that they provide are anticipated to impel the soil stabilization market further during the forecast period. Furthermore, advancements in soil stabilization materials and machines used for stabilization have played a crucial role in driving the growth of this market. However, high costs of the equipment may hinder market growth to a certain extent.
Stabilizing agents, when mixed in the soil, enhances the stability & physical properties of soil. The rising demand for high productivity & improved yield in agriculture have led to rising demand for stabilizing agents to improve the soil quality. Moreover, certain soil stabilizing materials act as soil conditioners which bind the soil to other materials and can help in preventing soil erosion significantly. Such factors are acting as a precursor for soil stabilization market growth globally.
According to the Office for National Statistics (ONS), the value of new construction projects in Great Britain continued to rise till 2018, and reaching a record of £113,127 million. The algorithmic growth of population is leading to rapid urbanization, which directly results in the exponential growth of construction activities globally, this in turn has propelled the global soil stabilization market. Moreover, rising demand for infrastructural establishments among the industrial and non-agricultural sectors is anticipated to further boost the global market during the forecast period.
Browse key industry insights spread across 200 pages with market data tables & figures & charts from the report, Soil Stabilization Market by Method (Mechanical and Chemical), Additive (Polymer and Mineral & Stabilizing Agents), Application (Industrial, Agriculture and Non-agriculture) - Global Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/soil-stabilization-market/145
However, the high cost of stabilization equipment is one of the major factors which can hinder the market growth to a certain extent. Moreover, presence of already existing infrastructure projects in developed countries such as North America and Europe may hamper the growth of the soil stabilization market in these regions.
Asia Pacific is estimated to account for the largest share in the global soil stabilization market. This large share of the segment can be attributed to the increased use of soil stabilization agents along with rapid urbanization. Moreover, rising awareness regarding soil management practices and their benefits has significantly propelled the demands for these stabilizing agents. Furthermore, growing demand to increase productivity & enhance agricultural yield, are few factors which have been on the forefront in augmenting the demand for soil stabilization market in the Asia Pacific region.
Some of the prominent players in the global soil stabilization market include Caterpillar, AB Volvo, Fayat Group, WIRTGEN GROUP, Griffin Soil Group, CARMEUSE, Graymont Limited, Aggrebind, Inc., Zydex Industries, and Soilworks, LLC, among others.
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