Geocomposites Market Revenue Trends, Company Profiles, Revenue Share Analysis By 2023-2030 | GSE Environmental, Officine Maccaferri Spa

The Geocomposites Market is estimated for USD 1.5 Billion in 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Geocomposites are composite materials made of geotextiles used in civil engineering applications such as road construction, embankments, retaining walls, foundations, etc. They provide stability, separation, drainage, reinforcement, and protection.

Market Dynamics:

The geocomposites market is expected to witness significant growth over the forecast period owing to increasing demand from civil engineering applications such as construction of roadways and railways. Around 80% of geocomposites manufactured globally are consumed in transportation infrastructure projects. Additionally, stringent government regulations regarding environmental protection has fueled the adoption of geocomposites for erosion control, containment, and waste management applications. Their ability to separate, filter, and reinforce has increased their usage in landfill capping and lining. Furthermore, growing construction activities in emerging economies of Asia Pacific and Latin America has propelled the demand for geocomposites during the forecast period.

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Top Key Players are Covered in this Report:

★ 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
★ HUESKER Inc.

Detailed Segmentation

By Product Type:

★ Geotextile - geonet composite
★ Geotextile - geomembrane composite
★ Geomembrane - geogrid composite
★ Geotextile - geogrid composites
★ Geotextile/polymer - core composites

By Application:

★ Road construction
★ Railways
★ Dams, Riverbanks, Waterworks
★ Landfill & Erosion Control
★ Others

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Major Geocomposites Market Driver: Increasing Infrastructure Development Projects Across the Globe is Pushing the Demand for Geocomposites

Growing infrastructure development activities across both developed and developing countries is a major factor augmenting the demand for geocomposites in the global market. Geocomposites are extensively used in applications such as construction of retaining walls, reinforcement of soil and slope stabilization. With rapid urbanization and growing population worldwide, governments of various nations are investing heavily in the development of roadways, railways, dams and canals among others. This is creating wide business opportunities for geocomposites manufacturers. Geocomposites offer advantages such as cost-effectiveness, easy installation, durability and high tensile strength which make them a preferred choice for civil engineering projects. Moreover, geocomposites eliminate the need for separate layers of concrete, gravel and geosynthetics, reducing labor costs. Revival of construction industry after economic slowdown has further stimulated the sales of geocomposites.

Rising Agricultural Activities is another Key Driver for Geocomposites Market Growth

In the agriculture sector, geocomposites are gaining widespread acceptance due to their ability to protect soil from erosion, improve water retention and enhance yield. They help in separating, filtering, and reinforcing soil layers. The growing worldwide population has increased pressure on farmers to boost productivity through innovative solutions, providing opportunities to geocomposites manufacturers. Also, implementation of regulatory standards regarding soil erosion control in many regions has created a positive impact on the adoption of geocomposites in agriculture. Their cost-effectiveness compared to alternatives and long service life adds to their desirability among farmers. With increasing global food demand and limited cultivable land, geocomposites can play a vital role in sustainable agriculture and ensure food security over the coming years.

Major Geocomposites Market Restrain: Volatility in Raw Material Prices Hinders Market Growth

Fluctuating prices of key raw materials required for production of geocomposites pose a major challenge to manufacturers. Prices of polymers and geosynthetics which are chief ingredients of geocomposites exhibit unstable trends due to changes in crude oil costs and geopolitical factors influencing their supply. Any hike in raw material costs eventually increases the overall production cost of geocomposites. This discourages buyers and restrains the revenue growth of market players. Lack of fixed pricing arrangements between raw material suppliers and geocomposites producers further aggravates the situation. Moreover, supply-demand gaps arising from raw material scarcity or hoarding during peak demand periods negatively impacts the geocomposites manufacturing process. Considering the sizeable raw material content, volatility in input prices emerges as a key restraining factor in the global geocomposites market. Companies need to device effective procurement and pricing strategies to counter inflationary pressures.

Major Geocomposites Market Opportunity: Rising Demand from Landfill Applications to Generate New Avenues

Growing industrialization has led to significant rise in solid waste generation worldwide. Effective waste management through systematic landfills is the need of the hour. This rising worldwide focus on structured landfill development offers geocomposites manufacturers profitable opportunities. At landfill sites, geocomposites help prevent erosion and leachate seepage by reinforcing cover soil layers. They facilitate proper drainage and separation of different refuse layers. Geocomposites suit seamless installation at landfill base and caps. Their availability in large roll formats further adds to convenience. Geocomposites' advantages such as structural integrity, longevity and resistance to chemical breakdown make them an indispensable material for landfill liner construction. With favorable environmental regulations and reinforcement of landfill infrastructure quality norms, sales of geocomposites for landfill applications are expected to experience rapid growth globally in the forthcoming years.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Geocomposites market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Geocomposites market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Geocomposites Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.