With a lesser number of market players, the global pond liners market demonstrates a relatively consolidated competitive landscape, finds a new research report by Transparency Market Research (TMR). Over the coming years, as a number of new players will be venturing in, the competition within this market is expected to intensify to a great extent. Emmbi Industries Ltd., Stephans Industries Ltd., Reef Industries Inc., BTL Liners, and Western Environmental Liner are some of the leading players operational in this market. These companies are focusing on innovations and advancements in their product lines to gain an edge over their competitors, states the research study.
According to the research report, the global market for pond liners was worth US$1.09 bn in 2016. The opportunity in this market will rise at a CAGR of 8.90% during the period from 2017 to 2025 and reach a value of US$2.32 bn by the end of the forecast period. Pond liners find significant usage in potable water, floating baffles, oil spill containment, agriculture, and aquaculture. Polyvinyl chloride (PVC) has been reporting a higher demand among raw materials and the trend is anticipated to continue in the near future, notes the market study.
Expanding Application Base to Support Growth
With the expanding application base of pond liners, the global market is expected to observe a tremendous rise in the near future, says the author of the study. As pond liners are resistant to corrosion and abrasion, they are witnessing a significant rise in their sales, thanks to the increasing concerns among people about the depletion of water resources. In addition, the upsurge in the construction of artificial lakes and ponds in gardens or at residential complexes are likely to support the growth of this market in the years to come. However, the issues concerning their disposal after they get damaged may hamper the market over the next few years, reports the research study.
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Asia Pacific to Maintain Dominance
In terms of the geography, North America, Asia Pacific, Latin America, Europe, and the Middle East and Africa have emerged as the key segments of the worldwide market for pond liners. Among them, Asia Pacific has been leading the market and is anticipated to maintain its dominance in the years ahead, expanding at a CAGR of 9.10% between 2017 and 2025. The rapid pace of urbanization and the frequent changes in building and construction trends are likely to boost the regional market in the near future. Continuously rising population in Asian countries, such as India and China are also expected to support the Asia Pacific market for pond liners in the years to come, states the research report.
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