What is Geocomposites Market Scope?
Geocomposites are made up of composite materials containing at least one layer of geosynthetic products involving geotextile, geogrid, geonet, geomembrane, etc. The rising quantity of water containments will help to boost the global Geocomposites market in the forecasted period. Geocomposites are made up of composite materials comprising at least one layer of the geosynthetic products including the geotextile, geogrid, geonet, geomembrane, and so forth. These combinations are utilized to improvise the functions, rise the interface friction angles, and raise the speed of installation. Major factors that are expected to boost the growth of the geocomposites market in the forecast period are the increasing of the infrastructural expansion with the supportive government policies,
The Geocomposites market study is being classified by Type (Geotextile-Geonet Composites, Geotextile-Geomembrane Composite, Geomembrane-Geogrid Composites, Geotextile-Geogrid Composite and Geotextile-Polymer Core Composite), by Application (Water & wastewater management, Road & highway, Landfill & mining, Soil reinforcement for civil construction and Others) and major geographies with country level break-up. According to AMA, the Global Geocomposites market is expected to see growth rate of 15.4%
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Geocomposites market throughout the predicted period.
Low & Bonar PLC (Scotland), Thrace-LINQ, Inc. (United States), Fibertex Nonwovens A/S (Denmark), Tenax Corporation (United States), Raven Industries, Inc. (United States), Tensar International Corporation, Inc. (United States), Hanes Geo Components (United States), Officine Maccaferri Spa (Italy), Propex Operating Company, LLC (United States), Royal TenCate NV (Netherlands) and Bonar Technical Fabrics (Belgium) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are TenCate Geosynthetics Americas (United States), Mattex Geosynthetics (Saudi Arabia), Polymer Group Inc. (United States) and GSE Environmental, Inc. (United States).
Analyst at AMA have segmented the market study of Global Geocomposites market by Type, Application and Region.
On the basis of geography, the market of Geocomposites has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Influencing Market Trend
- Increase in infrastructure with supportive government policies, environmental protection regulations, and cost-effective solutions
- The rise in demand for waste treatment coupled with the increase in usage of geocomposites in waste treatment
- Growing infrastructure activities along with supportive government policies
- Environmental protection regulations
- Increase in the number of water containments and canaling
- Expansion in the infrastructure and construction industry and wide usage of geocomposite materials in road and rail development project
- Growing infrastructure in developing countries
- Fluctuating raw material prices
- Absence of quality control in various application such as road & highway, landfill, and soil reinforcement in developing countries
Key Target AudienceManufacturers of geocomposites, Suppliers of raw materials, Distributors and suppliers of geocomposites, End-use industries, Industry associations and Others
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