Report Scope & Overview
The Geocomposites Market size was USD 650.2 billion in 2022 and is expected to Reach USD 1575.6 Billion by 2030 and grow at a CAGR of 11.7 % over the forecast period of 2023-2030.
Geocomposites material contains geogrid, geotextile, geomembrane, and some special geosynthetics. These geosynthetics are combined with another material to form a geocomposite. Geosynthetics are Man-made polymer products for slope protection and stabilizing terrains. They had wide applications due to specifications such as affordability, long-lastingness, high tensile strength, durability, and easy installation. Geocomposites are primarily used in applications such as control of soil erosion, road construction, protection, reinforcement, filtration, and barrier functions.
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Geocomposites are employed to enhance operations and quicken penetration. Roads and highways are a fast-growing application sector of geocomposites. As they boost strength and stability and are also used to extend the life of the roads making them more affordable for the road business. Additionally, it strengthens and stabilises the railway track.
In recent years, Soil erosion is considered a common occurrence due to the slow natural development rate of the soil. As a result, it is recommended that the best remedy be used to artificially prevent soil erosion. Soil Erosion control is also essential to protect other buildings from landslides, among other things, and to keep planets and soil formations from collapsing owing to rain, gravity, or a variety of other circumstances. Geotextiles are used against soil erosion near river banks caused by currents or lapping.
Market Dynamics
Drivers
Geotextiles are mostly used in applications requiring reinforcement, separation, filtration, and drainage.
Increasing Acceptance of Geocomposites Products in Numerous Application Segments.
Geocomposites are used in a variety of roadway applications, including drainage, separation, strengthening, and filtering. They can increase the stability and strength of the underlying soil in a roadway. A two-layer geocomposites membrane with a compact design that provides great drainage capacity via precisely arranged dimples.
Geotextiles are polymer fabrics that are used in the construction of drainage, harbour works, highways, and breakwaters, as well as land rehabilitation and other civil engineering applications.
Restrain
Fluctuating in the price of raw materials used in manufacturing.
Geocomposites are manufactured by combining different geosynthetics to get desired Geocomposite with various functionality and application. Geosynthetic are manufactured with natural and synthetic materials such as jute and coir. The majority of composites are manufactured from synthetic polymers sourced from crude oil, including polyethylene, polypropylene and polyester, and others. The cost is strongly influenced by the volatile prices of raw materials.
Opportunity
Geosynthetics are used to control soil erosion, improve drainage, and conserve soil.
The market growth is increased with the rise in construction activities.
Over the past few decades, the construction industries have been growing rapidly. Countries with emerging economies such as China and India and others may undergo a massive transformation. Asia Pacific region has almost 60% of the world’s population, and due to improved living standards, consumers have an increasing demand for new residential buildings and infrastructure. Hence Geocomposite is an important material used in the construction industry to boost demand.
Challenges
Prohibition of Plastic Use and Socio-Economic Issues in Geosynthetic Product Manufacturing.
Strict government regulations governing the use of geosynthetics.
The Geocomposites drain producer should have Certification for the product being supplied. Geosynthetics manufacturers should have a well-documented Factory Production Control (FPC)/Quality Assurance Procedure (QAP). The time of covid followed by Russia and Ukraine’s war has led to a disruption in the supply chain, delays in mining activities, labour problems, energy crises, quality improvements, and sustainability among the primary issues. Due to this issue, geocomposites maker has several challenges.
Impact of Russia Ukraine War
Russia’s Ukraine war has impacted negatively on every industrial sector. Lockdowns, the Russian invasion of Ukraine, energy issues, and geopolitical tensions are all causing problems in the transportation business. Port congestion, capacity constraints, and longer lead times have hampered the geocomposites business, resulting in high air freight utilisation. It has posed significant challenges to our supply chain and production resilience for geocomposites producers, but it is primarily concerned with safety and well-being.
Impact of Recession
The recession has impacted geomposites production worldwide. High price rise and less consumer spending have impacted sales of residential buildings and various other industrial application sectors. To combat inflation governments had to raise interest rates, and new job creation will decrease, affecting economic activity and growth. Lower capital spending is on the way as corporations pause their expenditures due to inflation fears and weaker demand. Sluggish growth in the construction of roads, buildings, and bridges had hindered market growth of the geocomposites market.
Market Segmentation
By Product
Geotextile-Geonet
Geotextile-Geocore
Geotextile-Geogrid
Geotextile-Geomembrane
Geotextile/Polymer-core- Core Composites
Others
By Function
Separation
Filtration
Drainage
Containment
By Application
Water and Wastewater Management
Road and Highway
Dams and Riverbanks
Landfill and Mining
Soil Reinforcement for Civil Construction
Others
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Regional Analysis
Asia Pacific is expected to see considerable expansion in the geocomposites market due to an increase in massive building and infrastructure projects in developing countries like China and India. Furthermore, supporting government policies and the expansion of environmental protection standards are expected to drive the growth of the geocomposites market in the region in the approaching years. Asia-Pacific Construction Market is expected to be 7.3% growth rate by 2026.
North America dominates the geocomposites market due to an increase in construction activities owing to private sector investment. Furthermore, significant government spending for the improvement of rail and road infrastructure facilities, as well as the construction of flyovers, tunnels, and bridges in the region, will fuel the expansion of the geocomposites market during the projection period.
Europe market has a growing market due to the rising construction sector. Most European countries' constructing sectors will account for 4%-5% of their GDP in 2022. THE EU has aided its construction industry through economic stimulus programmes and policies.
Latin America is witnessing moderate growth, due to region underdevelopment projects. The Middle East and African region market are expected to have emerging growth due to an increase in complex infrastructure projects.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
South Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of the Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin American
Key players
Tensar International Corporation, GSE Environmental, SKAPS Industries, HUESKER, Leggett & Platt Inc., Tenax, ABG Limited, Thrace Group, Terram Geosynthetics Private Limited, Officine Maccaferri Spa, TenCate Geosynthetics, and other key players are mentioned in the final report.
Tensar International Corporation-Company Financial Analysis
Recent Developments
Solmax- In 2022 Solmax, a renowned geosynthetics manufacturer, has introduced a new environmental strategy. The concepts and criteria specified in this policy will assist the company in achieving its goal of being the most socially and environmentally friendly geosynthetics manufacturer.
Solmax- In 2021 Solmax completes its acquisition of propex, further strengthening its position as the world's leading geosynthetic provider. This acquisition comes from a company with a good track record in the construction, transportation, flood control, and automotive industries.
| Report Attributes | Details |
| Market Size in 2022 | US$ 650.2 Bn |
| Market Size by 2030 | US$ 1575.6 Bn |
| CAGR | CAGR of 11.7 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product (Geotextile-Geonet, Geotextile-Geocore, Geotextile-Geogrid, Geotextile-Geomembrane, Geotextile/Polymer-core- Core Composites and Others) • By Function (Separation, Filtration, Drainage, Containment, Reinforcement) • By Application (Water and Wastewater Management, Road and Highway, Dams and Riverbanks, Landfill and Mining, Soil Reinforcement for Civil Construction and Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa]), Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Tensar International Corporation, GSE Environmental, SKAPS Industries, HUESKER, Leggett & Platt, Inc., Tenax, ABG Limited, Thrace Group, Terram Geosynthetics Private Limited, Officine Maccaferri Spa, TenCate Geosynthetics |
| Key Drivers | • Geotextiles are mostly used in applications requiring reinforcement, separation, filtration, and drainage. • Increasing Acceptance of Geocomposites Products in Numerous Application Segments. |
| Market Opportunities | • Geosynthetics are used to control soil erosion, improve drainage, and conserve soil. • The market growth is increased with the rise in construction activities. |
Ans. USD 1575.69 Billion is the projected Geocomposites Market size of the market by 2030.
Ans. The CAGR value of the Geocomposites Market over the forecast period is 11.7%.
Ans. Road & Highway is the fastest-growing region of the Geocomposites Market.
Ans. Opportunity
Ans. The application sector of geocomposites includes Water and Wastewater Management, Road and Highway, Dams and Riverbanks, Landfill and Mining, Soil Reinforcement for Civil Construction and Others.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of Ukraine- Russia War
4.2 Impact of Ongoing Recession
4.3. Introduction
4.3.1 Impact on major economies
4.3.1.1 US
4.3.1.2 Canada
4.3.1.3 Germany
4.3.1.4 France
4.3.1.5 United Kingdom
4.3.1.6 China
4.3.1.7 Japan
4.3.1.8 South Korea
4.3.1.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Geocomposites Market Segmentation, By Product
8.1 Geotextile-Geonet
8.2 Geotextile-Geocore
8.3 Geotextile-Geogrid
8.4 Geotextile-Geomembrane
8.5 Geotextile/Polymer-core- Core Composites
8.6 Others
9. Geocomposites Market Segmentation, By Function
9.1 Separation
9.2 Filtration
9.3 Drainage
9.4 Containment
9.5 Reinforcement
10. Geocomposites Market Segmentation, By Application
10.1 Water and Wastewater Management
10.2 Road and Highway
10.3 Dams and Riverbanks
10.4 Landfill and Mining
10.5 Soil Reinforcement for Civil Construction
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 North America Geocomposites Market by Country
11.2.2 North America Geocomposites Market by Type
11.2.3 North America Geocomposites Market by Function
11.2.4 North America Geocomposites Market by Application
11.2.5 USA
11.2.5.1 USA Geocomposites Market by Type
11.2.5.2 USA Geocomposites Market by Function
11.2.5.3 USA Geocomposites Market by Application
11.2.6 Canada
11.2.6.1 Canada Geocomposites Market by Type
11.2.6.2 Canada Geocomposites Market by Function
11.2.6.3 Canada Geocomposites Market by Application
11.2.7 Mexico
11.2.7.1 Mexico Geocomposites Market by Type
11.2.7.2 Mexico Geocomposites Market by Function
11.2.7.3 Mexico Geocomposites Market by Application
11.3 Europe
11.3.1 Europe Geocomposites Market by Country
11.3.2 Europe Geocomposites Market by Type
11.3.3 Europe Geocomposites Market by Function
11.3.4 Europe Geocomposites Market by Application
11.3.5 Germany
11.3.5.1 Germany Geocomposites Market by Type
11.3.5.2 Germany Geocomposites Market by Function
11.3.5.3 Germany Geocomposites Market by Application
11.3.6 UK
11.3.6.1 UK Geocomposites Market by Type
11.3.6.2 UK Geocomposites Market by Function
11.3.6.3 UK Geocomposites Market by Application
11.3.7 France
11.3.7.1 France Geocomposites Market by Type
11.3.7.2 France Geocomposites Market by Function
11.3.7.3 France Geocomposites Market by Application
11.3.8 Italy
11.3.8.1 Italy Geocomposites Market by Type
11.3.8.2 Italy Geocomposites Market by Function
11.3.8.3 Italy Geocomposites Market by Application
11.3.9 Spain
11.3.9.1 Spain Geocomposites Market by Type
11.3.9.2 Spain Geocomposites Market by Function
11.3.9.3 Spain Geocomposites Market by Application
11.3.10 The Netherlands
11.3.10.1 Netherlands Geocomposites Market by Type
11.3.10.2 Netherlands Geocomposites Market by Function
11.3.10.3 Netherlands Geocomposites Market by Application
11.3.11 Rest of Europe
11.3.11.1 Rest of Europe Geocomposites Market by Type
11.3.11.2 Rest of Europe Geocomposites Market by Function
11.3.11.3 Rest of Europe Geocomposites Market by Application
11.4 Asia-Pacific
11.4.1 Asia Pacific Geocomposites Market by Country
11.4.2 Asia Pacific Geocomposites Market by Type
11.4.3 Asia Pacific Geocomposites Market by Function
11.4.4 Asia Pacific Geocomposites Market by Application
11.4.5 Japan
11.4.5.1 Japan Geocomposites Market by Type
11.4.5. 2Japan Geocomposites Market by Function
11.4.5. 3Japan Geocomposites Market by Application
11.4.6 South Korea
11.4.6.1 South Korea Geocomposites Market by Type
11.4.6.2. South Korea Geocomposites Market by Function
11.4.6.3. South Korea Geocomposites Market by Application
11.4.7 China
11.4.7.1 China Geocomposites Market by Type
11.4.7.2. China Geocomposites Market by Function
11.4.7.3. China Geocomposites Market by Application
11.4.8 India
11.4.8.1 India Geocomposites Market by Type
11.4.8.2. India Geocomposites Market by Function
11.4.8.3 India Geocomposites Market by Application
11.4.9 Australia
11.4.8.1 Australia Geocomposites Market by Type
11.4.8.2. Australia Geocomposites Market by Function
11.4.8.3. Australia Geocomposites Market by Application
11.4.10 Rest of Asia-Pacific
11.4.10.1 APAC Geocomposites Market by Type
11.4.10.2. APAC Geocomposites Market by Function
11.4.10.3. APAC Geocomposites Market by Application
11.5 The Middle East & Africa
11.5.1 The Middle East & Africa Geocomposites Market by Country
11.5.2 The Middle East & Africa Geocomposites Market by Type
11.5.3 The Middle East & Africa Geocomposites Market by Function
11.5.4 The Middle East & Africa Geocomposites Market by Application
11.5.5 Israel
11.5.5.1 Israel Geocomposites Market by Type
11.5.5.2 Israel Geocomposites Market by Function
11.5.5.3 Israel Geocomposites Market by Application
11.5.6 UAE
11.5.6.1 UAE Geocomposites Market by Type
11.5.6.2 Israel Geocomposites Market by Function
11.5.6.3 Israel Geocomposites Market by Application
11.5.7 South Africa
11.5.7.1 South Africa Geocomposites Market by Type
11.5.7.2 South Africa Geocomposites Market by Function
11.5.7.3 South Africa Geocomposites Market by Application
11.5.8 Rest of Middle East & Africa
11.5.8.1 Rest of Middle East & Asia Geocomposites Market by Type
11.5.8.2 Rest of Middle East & Asia Geocomposites Market by Function
11.5.8.3 Rest of Middle East & Asia Geocomposites Market by Application
11.6 Latin America
11.6.1 Latin America Geocomposites Market by Country
11.6.2. Latin America Geocomposites Market by Type
11.6.3 Latin America Geocomposites Market by Function
11.6.4 Latin America Geocomposites Market by Application
11.6.5 Brazil
11.6.5.1 Brazil Geocomposites Market by Type
11.6.5.2 Brazil Geocomposites Market by Function
11.6.5.3Brazil Geocomposites Market by Application
11.6.6 Argentina
11.6.6.1 Argentina Geocomposites Market by Type
11.6.6.2 Argentina Geocomposites Market by Function
11.6.6.3 Argentina Geocomposites Market by Application
11.6.7 Rest of Latin America
11.6.7.1 Rest of Latin America Geocomposites Market by Type
11.6.7.2 Rest of Latin America Geocomposites Market by Function
11.6.7.3Rest of Latin America Geocomposites Market by Application
12 Company Profile
12.1 Solmax
12.1.1 Market Overview
12.1.2 Financials
12.1.3 Product/Services/Offerings
12.1.4 SWOT Analysis
12.1.5 The SNS View
12.2 Tensar International Corporation
12.2.1 Market Overview
12.2.2 Financials
12.2.3 Product/Services/Offerings
12.2.4 SWOT Analysis
12.2.5 The SNS View
12.3 HUESKER
12.3.1 Market Overview
12.3.2 Financials
12.3.3 Product/Services/Offerings
12.3.4 SWOT Analysis
12.3.5 The SNS View
12.4 GSE Environmental
12.4.1 Market Overview
12.4.2 Financials
12.4.3 Product/Services/Offerings
12.4.4 SWOT Analysis
12.4.5 The SNS View
12.5 ABG Limited
12.5.1 Market Overview
12.5.2 Financials
12.5.3 Product/Services/Offerings
12.5.4 SWOT Analysis
12.5.5 The SNS View
12.6 TenCate Geosynthetics
12.6.1 Market Overview
12.6.2 Financials
12.6.3 Product/Services/Offerings
12.6.4 SWOT Analysis
12.6.5 The SNS View
12.7. Thrace Group
12.7.1 Market Overview
12.7.2 Financials
12.7.3 Product/Services/Offerings
12.7.4 SWOT Analysis
12.7.5 The SNS View
12.8 Leggett & Platt, Inc.
12.8.1 Market Overview
12.8.2 Financials
12.8.3 Product/Services/Offerings
12.8.4 SWOT Analysis
12.8.5 The SNS View
12.9 Terram Geosynthetics Private Limited
12.9.1 Market Overview
12.9.2 Financials
12.9.3 Product/Services/Offerings
12.9.4 SWOT Analysis
12.9.5 The SNS View
12.10 The Gill Corporation
12.10.1 Market Overview
12.10.2 Financials
12.10.3 Product/Application/Offerings
12.10.4 SWOT Analysis
12.10.5 The SNS View
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. USE Cases and Best Practices
15. Conclusion
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