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(Construction.IndustryNews247.Com, June 25, 2019 ) The report "Geocomposites Market by Product Type (Geotextile-Geonet, Geotextile-Geocore, Geotextile-Gegrid, Geotextile-Geomembrain And Others), Function (Drainage, Containment and Others), Application (Water & Wastewater Management, Road & Highways, Landfills & Mining, Soil Reinforcement for Civil Construction, Others), Region - Global Forecast 2027", The Geocomposites Market is projected to grow from an estimated USD 423.7 million in 2018 to USD 1,156.2 million by 2027.
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The increasing infrastructure activities across the globe is driving the geocomposites market, as geocomposites offers high-quality and are cost-effective in various applications.
Based on prodcut type, geotextile-geocore geocomposite segment of the geocomposites market is projected to grow at the highest CAGR during the forecast period, in terms of value
The geocomposites market is dominated by the geotextile-geocore geocomposite segment, in terms value as well as volume. The Geotextile-geocore geocomposite is the most popular product type widely used in geocomposites market for the applications in such as bridge abutment, lightweight void fill, structural fill, tunnel and construction repair of existing tunnel, metro underground stations, railway tunnels, and others.
Based on function, drainage segment of the geocomposites market is projected to grow at the highest CAGR during the forecast period, in terms of value
Drainage is the dominating function of geocomposites, in terms value as well as volume. It is an important function of geocomposites for bridge abutment, lightweight void fill, structural fill, tunnel construction, and repair of existing tunnel, metro underground stations, railway tunnels, and other applications.
The road & highway application segment is projected to account for the largest share in the geocomposites market during the forecast period, in terms of value and volume
Geocomposites are used for basic functions of roadways such as separation, drainage, filtration, and reinforcement. Geocomposites can be used to increase the strength and stability of underlying soil in a roadway. Geotextiles-geogrid geocomposites are the most preferred geosynthetics used in the road & highway application. Loaded vehicles on road track create cuts, rutting in roads, and water clogging in the cracks creates erosion and reduces lifetime of roads. Geocomposites increase road life and cost-effectiveness for the road industry. Geocomposites are used under the railway tracks to provide stabilization and reinforcement. In addition, they are used as a filter separator between ballast and sub-grade, providing lateral drainage system. Thus, road & highway application dominated the geocomposites market.
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Browse in-depth TOC on "Geocomposites Market
70 - Market Data Tables
37 - Figures
111 - Pages
APAC is estimated to be the largest market for geocomposites in 2018, in terms of volume.
The continuous rise in the construction projects has resulted in high demand for geocomposites products. The growth and innovations in the Chinese construction & infrastructure industry are estimated to generate a positive impact on the geocomposites market in the country. In addition, the initiatives taken by the governments of the countries in this region in building new highways is expected to further increase the demand for geocomposites from the construction industry. All these factors make APAC the fastest-growing geocomposites market.
The major players operating in the industry such as GSE Environmental (US), Tencate Geosynthetics (US), Maccaferri S.P.A. (Italy), SKAPS industries (US), ABG Ltd. (UK), Hans Geo Components (US), TenCate Geosynthetics (US), Maccaferri S.p.A. (Italy), Hueskar Synthetics GMBH (Germany) and Thrace Group (Greece).
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