Global Geocomposites Market: Overview
Geocomposites are made up of composite materials containing at least one layer of geosynthetic products involving geotextile, geogrid, geonet, geomembrane, etc. These combinations are used to enhance functions, increase interface friction angles, and raise the speed of installation. Selection of combination materials depends upon the application and purpose. Geocomposites are primarily used for protection, reinforcement, filtration, barrier functions, erosion control, and road construction applications. They are also employed in several other applications.
Global Geocomposites Market: Key Segments
Based on type, the geocomposites market can be segmented into geotextile-geonet, geotextile-geocore, geotextile-geogrid, and geotextile-geomembrane. The geotextile-geocore segment is projected to expand at a rapid pace in terms of value and volume. Geotextile-geocore geocomposites are widely used in applications such as bridge abutment, lightweight void fill, structural fill, tunnel and construction repair of existing tunnels, metro underground stations, and railway tunnels. Based on function, the geocomposites market can be classified into drainage, and containment. Drainage function is the prominent segment of the market in terms of function.
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In terms of application, the geocomposites market can be divided into water management, road & highway, landfill, and soil reinforcement. The road & highway segment is expected to expand at a rapid pace during the forecast period. Geocomposites can be used to increase the strength and stability of soil in roadways. They can also be used under railway tracks to provide stabilization & reinforcement. They can also be employed as filter separators between ballast and sub-grade. Geotextiles-geogrid geocomposites are preferred geosynthetics in the road & highway segment. Geocomposites increase road life and are cost effective in the road & highway industry.
Global Geocomposites Market: Drivers & Restraints
Increase in infrastructure with supportive government policies, environmental protection regulations, and cost-effective solutions are the major drivers of the geocomposites market. Expansion in the infrastructure and construction industry and wide usage of geocomposite materials in road and rail development projects are driving the geocomposites market across the globe. Increase in number of water containments and canaling is also one of the key factors boosting the geocomposites market. Rise in demand for waste treatment coupled with increase in usage of geocomposites in waste treatment is expected to propel the demand for geocomposites in the near future. Absence of quality control in various application such as road & highway, landfill, and soil reinforcement in developing countries is the major restraint of the market. Growth in infrastructure in developing countries is providing lucrative opportunities to the geocomposites market. Fluctuation in prices of raw materials is hampering the geocomposites market.
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Global Geocomposites Market: Regional Outlook
Based on region, the geocomposites market can be split into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is estimated to be the dominant region of the global geocomposites market during the forecast period, led by the expansion in the construction & infrastructure industry in the U.S. Increase in government investments in the development of road and rail infrastructure, including construction of flyovers, bridges, and tunnels, in Asia Pacific is expected to boost the demand for geocomposites in the region. Growth in the construction industry in countries such as Brazil and Mexico is anticipated to propel the geocomposites market in Latin America.
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Global Geocomposites Market: Key Players
Key players operating in the global geocomposites market include Thrace Group, GSE Environmental, SKAPS Industries, ABG Ltd, Leggett & Platt, Inc., TenCate Geosynthetics, Officine Maccaferri Spa, Terram Geosynthetics Pvt. Ltd., HUESKER, and Tenax.
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