In 2022, the soil stabilization material market was valued at approximately US$ 19,803.30 million, and it is expected to reach US$ 21,123.30 million by the end of 2023, with a projected compound annual growth rate (CAGR) of 6.60% throughout the forecast period. This robust growth trajectory is anticipated to propel the global soil stabilization material industry to a substantial value of US$ 40,025.23 million by 2033, indicating a promising and expanding market for these materials in the coming years.
Rapid infrastructure development and urbanization are major contributors, as nations engage in constructing structures, roads, and highways that require sturdy foundations made of these materials.
The market is also greatly impacted by the increasing focus on environmental sustainability at the same time. With the rise of global ecological initiatives and legislation, soil stabilizing materials that lessen environmental effect and encourage responsible land use are becoming more and more important.
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Technological developments are also a major factor in the market’s expansion. New developments in soil stabilizing materials, like sophisticated polymers and environmentally friendly additives, increase their efficacy and adaptability and offer more sustainable and productive solutions. This complies with strict environmental rules and meets the changing needs of the agriculture and construction industries.
Key Takeaways from the Soil Stabilization Material Market
- Throughout the projected period, the soil stabilization material industry in the United States is projected to expand at a 7.80% CAGR.
- The United Kingdom market for soil stabilization materials is estimated to rise at a 5.50% CAGR between 2023 and 2033.
- The soil stabilization material industry in Germany will likely increase at a rate of 5.60% CAGR.
- As of 2023, the soil stabilization material industry in China is projected to flourish at a CAGR of 7%.
- Throughout the forecast period, the soil stabilization material industry in India is anticipated to develop at a rate of 7.10% CAGR.
- By 2023, the minerals and stabilizers category is projected to reach 61.4% of the market share.
- The industrial sector is projected to gain 47% of the global market in 2023.
“The need for ecologically friendly soil stabilization materials is driven by the global trend towards eco-friendly practices as well as reduced environmental impact in building and agriculture,” remarks an Analyst at Future Market Insights (FMI).
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Competitive Landscape
Many important companies are expanding into new markets and forming strategic partnerships. They collaborate with local building firms, authorities, and other pertinent entities to create a presence in regions seeing a surge in infrastructure development. These partnerships improve market position by giving key players in the global soil stabilization materials sector access to new client bases and encouraging information sharing.
Key Developments
- Graymont declared in 2023 that it has signed a deal to buy Compact Energy, a large lime processing facility strategically positioned in Banting, Selangor, Malaysia, near Port Klang, the main container port in the country. The deal is expected to close in the fourth quarter of 2023.
- In 2021, Caterpillar unveiled the RM400 rotary mixer, an enhanced and more advanced model of the RM300 rotary mixer. Numerous new features and enhancements are included, such as 19% greater power, a more sophisticated working environment, and improved mobility. These qualities enable contractors to fulfill stringent requirements in full-depth reclamation as well as soil stabilization applications.
Top Key Players in the Soil Stabilization Material Market
- Graymont Limited
- Carmuse
- Low & Bonar PLC
- Tensar Corporation,
- Boral Limited
- Adelaide Brighton Limited
- Sibelco Australia Ltd.
- Thrace Group
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global soil stabilization material industry, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the global soil stabilization material market, the market is segmented on the basis of material type (polymers, minerals & stabilizing agents, portland cements), applications (industrial, roads, runways, landfills, non agriculture) and region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, The Middle East & Africa).
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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