GEOCOMPOSITES MARKET ANALYSIS

Geocomposites Market, by Primary Function (Separation, Filtration, Drainage, and Containment), by Product Type (Geotextile-geonet, Geotextile-geomebrane, Geomebrane-geogrid, Geotextile-geogrid, Geotextile / Polymer-core), by Application (Road Construction, Railways, Dams / Riverbanks / Waterworks, Landfill & Erosion Control, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

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A material containing at least one layer of geosynthetic products (polymeric products) such as geogrid, geomembrane, geotextile, and others, with another material (e.g. steel cables, deformed plastic sheets or steel anchors) is known as geocomposite. Geocomposites find application in structural fill, bridge abutment, tunnel and construction repair of existing tunnel, lightweight void fill, metro underground stations, railway tunnels, and others. Geotextiles-geogrid geocomposites are used to provide reinforcement and stabilization under railway tracks. Moreover, these are used as a sub-grade, providing lateral drainage system and filter separator between ballast.

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Market Dynamics:-

Geocomposites find application in roadways such as drainage, filtration, reinforcement, and separation. Geocomposites are used to enhance the stability and strength of underlying soil in roadways. Among product type, geotextiles-geogrid geocomposites are the most preferred geosynthetics used in highway and road application. Geocomposites are cost-effective and enhances road life. Significant growth in the construction segment is expected to drive growth of the geocomposites market during the forecast period. For instance, the Government of India has set a target to construct 10,000 km national highway in 2019 from 9,829 km in 2018 and also total of 200,000 km national highways are expected to complete by 2022. According to India Brand Equity Foundation, Government of India set a target to complete 300 highway projects by March 2019. The total amount of investment is expected to be US$ 2.25 billion in 2019.

Market Outlook:-

Asia Pacific is expected to be the fastest growing region in the geocomposites market during the forecast period. This is owing to increasing construction and infrastructure activities in emerging countries such as India and China. Growing infrastructure activities in the region is a major driver for growth of the geocomposites market as these act as a cost-effective alternative in various applications. Therefore, significant growth in construction & infrastructural projects and supportive government policies and increasing environmental protection regulations is expected to boost the geocomposites market growth over the forecast period in Asia Pacific. For instance, according to the National Bureau of Statistics of China, the total investment in real estate development in 2018 was US$ 1,749 billion from US$ 1,308 billion in 2017.

Key Players:-

Major players operating in the global geocomposites market include, GSE Environmental, Officine Maccaferri Spa, Huesker Synthetics GmbH, Thrace Group, SKAPS Industries, Leggett & Platt, Inc., Hans Geo Components, TenCate Geosynthetics, ABG Ltd, ABG Ltd, Terram Geosynthetics Pvt. Ltd., Tenax, and HUESKER Inc.

Market Taxonomy:-

On the basis of primary function, the global geocomposites market can be segmented as:

Separation
Filtration
Drainage
Containment

On the basis of product type, the global geocomposites market can be segmented as:

Geotextile - geonet composite
Geotextile – geomembrane composite
Geomembrane – geogrid composite
Geotextile – geogrid composites
Geotextile/polymer – core composites

On the basis of application, the global geocomposites market can be segmented as:

Road construction
Railways
Dams, Riverbanks, Waterworks
Landfill & Erosion Control
Others

On the basis of region, the global geocomposites market can be segmented as:

North America
Europe
Latin America
Asia Pacific
Middle East & Africa

U.S.
Canada
Mexico

U.K.
Germany
Italy
France
Spain
Russia
Rest of Europe

Brazil
Argentina
Rest of Latin America

China
India
Japan
South Korea
ASEAN
Australia
Rest of Asia Pacific

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Geocomposites Market Key Developments:

In December 2018, Southern Geosynthetics Supplies Pty. Ltd introduced new geomembrane. The new DG200 is a 0.8mm polyvinyl chloride (PVC) geomembrane bonded on either side with 200 gsm nonwoven geotextile. This composite provides geomembrane with high puncture as well as tear resistance, and high surface friction, coupled with the greater flexibility and durability of PVC.
In March 2019, TENAX SPA, an Italy based advanced materials company, introduced new geocomposite, ‘GRAVEL LOCK’. This new geocomposite has rolls of 1.50×20 m which are synthesized with cuspated high density polyethylene (HDPE) grid along with a polypropylene non-woven fabric which can be used for retaining gravel. GRAVEL LOCK is expected to an effective, durable, and economical solution which can be used as a stable gravel floor for pedestrian and vehicular passage.
In June 2019, Groupe Solmax Inc, a company based in Canada which is engaged in development of polyethylene geomembrane, announced its plans to expand its operations in U.S. For this expansion, a new geosynthetics manufacturing facility will be established in Nevada, Western U.S. which is expected to be operational by mid of 2020.

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