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.
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Market Taxonomy:-
On the basis of primary function, the global geocomposites market can be segmented as:
- Separation
- Filtration
- Drainage
- Containmen
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