Global Geocomposites Market Size is Projected to Reach 740.0 million USD by 2023

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The Geocomposites industry was 377.6 million USD in 2017 and is projected to reach 740.0 million USD by 2023, at a CAGR (Compounded Annual Growth Rate) of 11.8% between 2017 and 2023. The market is driven by various end-user industries, such as Water Management, Road, Landfill, Soil Reinforcement.

The industry is less concentration, the key brand include 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), and Thrace Group (Greece)..

The leading companies own the advantages on better performance, more abundant product’s types, better technical and impeccable after-sales service. Consequently, they take the majority of the market share of high-end market. Looking to the future years, the slow upward price trend in recent years will maintain. As competition intensifies, prices gap between different brands will go narrowing. Similarly, there will be fluctuation in gross margin.

The industry is expected to remain innovation-led, with frequent acquisitions and strategic alliances adopted as the key strategies by the players to increase their industry presence. Market stays in mature period with a clear concentration. Meanwhile, optimize product mix and further develop value-added capabilities to maximize margins.

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The Global Geocomposites Market Research Report 2018 report released by QYResearch provides a basic overview of the Geocomposites industry, including definition, classification, application and industrial chain structure. Discuss development policies and plans as well as manufacturing processes and cost structures.

The report then focuses on major industry players in Global, including company profiles, product images and specifications, sales, market share, and contact information. More importantly, the Geocomposites industry development trends and marketing channels were analyzed. Providing the main statistical data on the current status of the industry is a valuable guide and direction for companies and individuals interested in the market.

Geosynthetics are the general term for synthetic materials used in civil engineering. As a kind of civil engineering material, it is made of synthetic polymers (such as plastic, chemical fiber, synthetic rubber, etc.) as raw materials to make various types of products, put in the internal, surface or various soil of soil, and play the role of strengthening or protecting the soil.

On the basis of product type, the geocomposites market can be segmented in to five products types, namely, geotextile–geonet, geotextile-geocore, geotextile-geogrid, geotextile-geomembrane, and others. The geotextile-geocore product type accounted for a major market share, due to its large-scale application in road & highway applications.

In terms of applications, the geocomposites market is segmented into to five categories on the basis of applications, which include water & wastewater management, road & highway, landfills & mining, soil reinforcement, and others. The major application of geocomposites is in road & highway. Road & highway is expected to be the fastest-growing application of the geocomposites market. Geocomposites find wide applications due to its properties such as high tensile strength, durability, easy installation, and cost-effectiveness.

APAC was the fastest-growing geocomposites market, in terms of both value and volume. The rise in demand for geocomposites from the emerging economies and increase in government spending on infrastructural projects are the main factors contributing to the growth of the market in APAC.

The Geocomposites industry was 377.6 million USD in 2017 and is projected to reach 740.0 million USD by 2023, at a CAGR (Compounded Annual Growth Rate) of 11.8% between 2017 and 2023. The market is driven by various end-user industries, such as Water Management, Road, Landfill, Soil Reinforcement.

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