Geocomposites are specialized materials created from a mixture of various materials to create a material with advanced properties. The goal of these materials is to optimize their cost effectiveness while also extending their application areas.
Increasing infrastructure development in developed as well as developing nations followed by rising government initiatives towards residential and commercial construction spending are expected to offer lucrative opportunity for geocomposites market over the forecast period. Additionally, increasing environmental protection regulations coupled with need for cost-effective solution will further open new avenues for the industry. However, volatile raw material prices followed by shortage of quality control techniques in developing economies are expected to be the key market challenges over the projected period.
Adroit Market Research study on the global market for geocomposites offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global geocomposites market have been analyzed in depth.
Over the forecasted timeframe, the North American region is expected to dominate overall market growth. The rapid expansion of construction activities and the infrastructure sector in countries such as the United States is credited with the region's growth. Furthermore, major government funding for rail and road infrastructure upgrades, as well as the construction of flyovers, tunnels, and bridges in China and India, would raise commodity demand in the Asia Pacific region. Smart city projects in India and China's One Belt, One Road initiative would contribute to regional development.
Companies mentioned in this report are GSE Environmental, ABG LTD, Thrace Group, Skaps Industries, Contech Engineered Solutions Lic, Texinov, Hans Geo Components, Tencate Geosynthetics, Maccaferri S.P.A, Terrem Geosynthetics, Tenax Group, abd Huesker Synthetics GmbH. Additionally, other notable players operating in this industry are Qingdao Haisan New Energy Co., Ltd., Alyaf Industrial Co. Ltd, Feicheng Lianyi Engineering Plastics Co., Ltd., Texinov, Climax Synthetics Pvt. Ltd., Tema Corporation, and American Wick Drain Corporation.
Key Segments of the Global Geocomposites Market
Product Method, 2018-2028 (USD Million)
Application, 2018-2028 (USD Million)
- Water & Wastewater Management
- Road & Highway
- Landfill & Mining
- Soil Reinforcement for Civil Construction
Function, 2018-2028 (USD Million)
Regional Overview, 2018-2028 (USD Million)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America