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Geocomposites market Is Projected To Rise At a Cagr Of 11.8 % During 2023 | GSE Environmental, Officine Maccaferri Spa

10-27-2021 09:27 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Coherent market insights

Geocomposites  market

Geocomposites market

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 Taxonomy:-

On the basis of primary function, the global geocomposites market can be segmented as:
Separation
Filtration
Drainage
Containment

On the basis of product type, the global geocomposites market can be segmented as:
Geotextile - geonet composite
Geotextile – geomembrane composite
Geomembrane – geogrid composite
Geotextile – geogrid composites
Geotextile/polymer – core composites

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.

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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.

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