Geocomposite Market Size – USD 490.7 Million in 2020, Market Growth – CAGR of 11.2%, Trends – Product Launches and Research for Advanced Tech Developments

NEW YORK CITY, NY, UNITED STATES, January 20, 2022 /EINPresswire.com/ -- Based on current analysis, the global Geocomposite Market was valued at USD 490.7 Million in 2020 and is expected to reach USD 1.21 Billion by 2028, at a CAGR 11.2% Geocomposites are planar sheets made of composite materials that contain at least one layer of geosynthetic products involving geotextile, geogrid, geonet, geomembrane, etc. They are mainly used as liners in drainage facilities, for erosion control, road constructions and in several other applications. Geocomposite materials are the combinations of different materials in such a way that different applications are addressed in an optimal manner and at a minimum cost. Geocomposites maximize the benefit/cost ratio. The geotextiles provide increased resistance to puncture, tear propagation, and friction related to sliding, as well as providing tensile strength in and of themselves. Quite often, however, the geotextiles are of the nonwoven, needle-punched variety and are of relatively heavy weight. Several large-scale construction undertakings are expected to take place over the coming years, which may suggestively enhance the demand for recomposites materials during the forecast period.

Growing demand for water inhibitions and canaling projects is also one of the driving factors for the growth of the geocomposites material market in various regions. On the other hand, fluctuation of raw material prices is may hamper the overall progress of the geocomposite market. Due to solid infrastructure, North America is successful in dominating the geocomposite market with market share of 43.5% and will continue to do so during the forecasted period.

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Major companies profiled in the report include:
GSE Environmental (US), TenCate Geosynthetics (US), Maccaferri S.P.A. (Italy), SKAPS industries (US), ABG Ltd. (UK), Hans Geo Components (US), Huesker Synthetics GmbH (Germany), and Thrace Group (Greece)

Key findings from the report

GSE Environment’s team of engineers collaborated with resin producers to develop innovative HDPE resin formulations for use in high temperature applications. When used in conjunction with GSE’s proprietary high temperature stabilization formula, the result is a liner that delivers the same durability and chemical resistance as any GSE geomembrane and will retain these properties when exposed to sustained temperatures up to 100°C

The geotextile-geocore product type accounted for a major market share of 48% in 2020, due to its large-scale application in road & highway applications

Water and wastewater application are the fastest growing application with a growing CAGR of 12.5 %

The polyester woven geotextile reinforced open graded asphalt concrete overlay shows the largest fabric effectiveness factor of 4.349 units and the largest base isolation effectiveness factor of 7.871units in opening mode of displacement. Hence it is the best choice in purely opening mode of displacement

Growing competition among the local and global producers is primarily leading towards expansion of advanced products to expand the dominance in the market. Substantial investments in the research and development sector for the production of efficient and innovative products is an ongoing trend in the geocomposites market

Large-scale operations, namely, One Belt and One Road, Maritime Silk Road, and Silk Road Economic Belt projects in China are anticipated to uplift the demand for geocomposites in the region over the coming years

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The report also provides an insight about the manufacturing cost including upstream raw materials, overall production process, and industry chain analysis. The global Geocomposite market research report provides a brief overview inclusive of competitive landscape and key developments, policies, manufacturing costs, and processes. It also covers analysis of the strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product launches and brand promotions, corporate deals and partnerships, among others.

The chemicals and materials industry has witnessed significant revenue growth over the recent past owing to increasing demand for chemicals, raw materials, consumer products such as perfumes, soaps, and detergents, and plastics from various end-use industries. Chemicals and materials are widely used in various consumer goods and different sectors such as agriculture, construction, and petroleum refining, among others. Polymers occupy the largest revenue share of the global chemicals industry owing to increasing demand from packaging industry, construction markers, and home furnishing, among others. Increasing availability of raw materials at affordable costs, lower labor and energy costs, and rapid economic growth in developing regions is a key factors boosting revenue growth of the chemicals and materials industry and the trend is expected to continue going ahead.

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Type Outlook:
Geotextile–geonet
Geotextile-geocore
Geotextile-geogrid
Geotextile-geomembrane
Others

Application Outlook:
Water & wastewater management
Road & highway
Landfill & mining
Soil reinforcement for civil construction
Others

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Regional Analysis:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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