About Geocomposites
The Growing infrastructure activities will help to boost the global Geocomposites market in the forecasted period. Geocomposite is a generic name used to define a factory-fabricated geosynthetic product consisting of a combination of two or more geosynthetic materials like geotextiles, geogrids, geonets, and/or geomembranes. The increasing infrastructure activities along with supportive government policies as well as environmental protection regulations act as the driver of the market. Additionally, the rise in the number of water containments, canaling and the booting of construction activities, and the broad utilization of the products in the rail and road expansion ventures are some of the other factors expected to drive the growth of the global geocomposites market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 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. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Geocomposites market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are TenCate Geosynthetics Americas (United States), Mattex Geosynthetics (Saudi Arabia), Polymer Group Inc. (United States) and GSE Environmental, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Geocomposites market by Type (Geotextile-Geonet Composites, Geotextile-Geomembrane Composite, Geomembrane-Geogrid Composites, Geotextile-Geogrid Composite and Geotextile-Polymer Core Composite), Application (Water & wastewater management, Road & highway, Landfill & mining, Soil reinforcement for civil construction and Others) 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 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Function, the sub-segment i.e. Drainage will boost the Geocomposites market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The increasing demand due to cost-effective solutions and The increase in demand for waste treatment coupled with the increase in usage of geocomposites in waste treatment
Market Growth Drivers:
The growing infrastructure activities along with supportive government policies and High Adoption due to Environmental protection regulations
Challenges:
Absence of quality control in various application such as road & highway, landfill, and soil reinforcement in developing countries
Restraints:
The concern fluctuating raw material prices
Opportunities:
Expansion in the infrastructure and construction industry and wide usage of geocomposite materials in road and rail development project and The high demand due to growing infrastructure in developing countries
Market Leaders and their expansionary development strategies
In May 2023, Solvay announced the acquisition of TenCate Geosynthetics, a leading manufacturer of geotextiles, geomembranes, and other geosynthetic products. This acquisition will expand Solvay's offerings in the geosynthetics market and strengthen its position in North America.
In June 2023, Solvay launched a new geotextile, GeoTex PN X3520, specifically designed for road reinforcement applications. This new product offers high strength and durability, making it ideal for use in demanding applications.
Key Target Audience
Manufacturers of geocomposites, Suppliers of raw materials, Distributors and suppliers of geocomposites, End-use industries, Industry associations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.