Rapid Urbanization in the Developing Regions Driving the Growth of the Soil Stabilization Market

The Soil Stabilization Market is estimated at USD 22.09 Billion in 2017, and is projected to reach USD 27.80 Billion by 2022, at a CAGR of 4.70% during the forecast period. The market is driven by factors such as improved quality and properties of soil stabilization materials and urbanization. The use of different soil stabilization additives in the optimum quantities provides numerous benefits to the soil. Rapid urbanization, particularly in the developing regions, is driving the growth of the construction industry, thereby fueling the soil stabilization market growth.

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Based on application, the soil stabilization market has been segmented into industrial, non-agriculture, and agriculture. The industrial segment dominated the global market, and this trend is expected to continue through the forecast period.

The global market has been segmented, on the basis of method, into mechanical and chemical. The mechanical method segment dominated the global market with a majority of the share. The mechanical method includes various soil stabilization machines such as compactors, rollers, and pavers to improve the strength of the soil. The mechanical method helps in properly and consistently mixing the soil, which can be used in subgrades and design of foundations.

Asia Pacific is estimated to account for the largest share in the global soil stabilization market, in terms of value, in 2016, owing to increasing awareness about soil management practices.

South America is projected to be the fastest-growing region in the global market during the forecast period, owing to the increase in the usage of soil stabilization in the agricultural as well as industrial sector. The soil stabilization market in South America is in its emerging phase and is experiencing rapid growth.

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The key players in global soil stabilization market include Caterpillar (US), AB VOLVO (Sweden), FAYAT (France), WIRTGEN GROUP (Germany), CARMEUSE (US), Global Road Technology (Australia), Soilworks (US), Graymont (Canada), SNF Holding (US), Aggrebind (US), IRRIDAN USA (US), and Altacrete (Canada).

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