Geocomposite Market is Expected to Clock a Notable A CAGR of 11.2% and Reach USD 1,166.3 Million by 2028
Market Overview The global geocomposite market reached a value of USD 492.1 Million in 2020 and is projected to achieve USD 1,166.3 Million by 2028, exhibiting a compound annual growth rate (CAGR) of 11.2%. Geocomposite materials involve the strategic combination of various materials to address diverse applications optimally while minimizing costs. Geocomposites enhance the benefit-to-cost ratio and are typically planar sheets composed of composite materials, including geosynthetic components like geotextiles, geogrids, geonets, geomembranes, and more.
Companies Profiled in the Market Study
- GSE Environmental (US)
- TenCate Geosynthetics (US)
- Maccaferri S.P.A. (Italy)
- SKAPS Industries (US)
- ABG Ltd. (UK)
- Hans Geo Components (US)
- Huesker Synthetics GmbH (Germany)
- Thrace Group (Greece)
Get a sample copy of the Geocomposite Market report: https://www.reportsanddata.com/download-free-sample/1483
These materials are primarily employed as liners in drainage systems, erosion control, road construction, and various other applications. Geotextiles, in particular, offer enhanced resistance to punctures, tear propagation, and friction while also providing tensile strength. In many cases, these geotextiles are nonwoven and needle-punched, often of substantial weight. The market for geocomposite materials is anticipated to experience significant growth due to upcoming large-scale construction projects, government initiatives promoting infrastructure development, and environmental sustainability regulations.
Additionally, government-led cleanup initiatives in developing countries are expected to drive demand for geocomposites. The increasing need for water management and canal projects is another contributing factor to the market’s growth. Nevertheless, fluctuations in raw material prices could potentially hinder overall progress in the geocomposite market. North America currently leads the market with a market share of 43.5% and is expected to maintain this position in the forecasted period.
