Geocomposites Market Size, Share & Industry Analysis, By Product (Geotextile - Geonet Composites, Geotextile - Geomembrane Composites, Geomembrane - Geogrid Composites, Geotextile - Geogrid Composites, and Others), By Function (Separation, Drainage, Reinforcement, and Others), By Application (Water & Wastewater Management, Road & Highway, Landfill & Mining, Soil Reinforcement, and Others), and Regional Forecast, 2024-2032

The global geocomposites market size was valued at USD 447.1 million in 2023 and is projected to grow from USD 476.0 million in 2024 to USD 768.6 million by 2032, exhibiting a CAGR of 6.2% during the forecast period. North America dominated the geocomposites market with a market share of 36.48% in 2023. Moreover, the geocomposites market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 182.90 million by 2032, driven by the rising demand for cost-effective materials requiring low maintenance and having longer lifespan from the constrcution sector. 

Geocomposites are used for functions of roadways such as drainage, separation, reinforcement, and filtration. They can increase the stability and strength of underlying soil in a roadway. Increasing construction activities, such as roads, highways, railways, and others, due to high tensile strength, easy installation, cost-effectiveness, and durability properties drive the global geocomposites market growth.

The COVID-19 outbreak, and the accompanying economic slowdown, had a detrimental effect on several industries, including construction and infrastructure. During the initial phase of the pandemic, the construction material supply chain was severely disrupted owing to lockdown restrictions imposed by respective country governments. This factor also includes geosynthetic materials, frequently employed in the construction industry for separation, reinforcement, filtration, drainage, and containment. Manufacturers worldwide have reported lowering their production capacity and the temporary shutdown of their production facilities due to the lockdown and reduced order intake. However, significant control on the spread of the pandemic resulted into the gradual recovery of product demand after mid-2021.

Geocomposites Market Trends

Biodegradation of Sustainable Nonwovens Used in Water Absorbing Geocomposites (WAG) to Drive Market Growth

The rise in awareness and the need to reduce the environmental impact of geotextiles have driven the usage of natural fibers and materials. WAG technology is used to achieve energy sustainability, which gradually replaces non-renewable fossil fuels and is considered to be environment-friendly. This technology supports water management and helps in plant growth. It captures water in the soil and retains it inside in gel form. The application of WAG improves erosion control by enhancing the development of the root systems of bushes and grass and improves soil shear strength on the embankment.

Geocomposites Market Growth Factors

Increasing Product Adoption from the Rapidly Growing Building and Construction Industry to Drive Market Growth

The rising demand from the construction industry across various parts of the globe is anticipated to drive market growth. Geocomposites are used extensively in various infrastructure projects, including roads, bridges, airports, and buildings, to provide stability, reinforcement, drainage, and erosion control. The harsh environmental conditions encountered in different climatic regions make conventional construction materials less superior to geocomposites in terms of performance and functionality.

In addition, geocomposites are more cost-effective in the long term compared to traditionally available construction materials such as concrete and asphalt, among others. In comparison to these traditionally available construction materials, geocomposites require less maintenance, have longer lifespans, and can be installed more quickly, reducing construction costs and time. They are also considered to be sustainable and environmentally friendly options. This makes them an attractive option in construction projects that prioritize environmental sustainability.

The construction sector has witnessed a significant recovery after the setback encountered owing to the COVID-19 pandemic. The construction sector is anticipated to be a major contributor to reviving economies of several countries across the globe. For instance, to generate high-paying jobs, the Biden administration came up with the Bipartisan Infrastructure Law. Under this initiative, the government has set a target to spend around USD 1.2 trillion for funding infrastructure projects, which includes a range of civil construction projects across the U.S.

Additionally, developing countries in the Asia Pacific region are home to around 60% of the world's population. People in countries such as China, India, and some ASEAN countries have witnessed substantial improvement in their living standards and purchasing power over the past few decades. Improved spending ability coupled with untapped regional construction industry are likely to drive the initiation of new infrastructure and construction projects during the forecast period.

Therefore, the increasing product adoption from the rising building & construction industry across the globe is anticipated to have a significant positive impact on the growth of the market.

RESTRAINING FACTORS

Fluctuating Raw Material Prices to Restrict Market Growth

Geocomposites are manufactured by combining different geosynthetics into configurations according to the desired functionality and application. Geosynthetics can be manufactured using synthetic materials and naturally derived materials such as jute and coir. The majority of composites manufactured worldwide are produced from synthetic polymers sourced from crude oil, including polyester, polyethylene, and polypropylene. The cost of these raw materials is strongly influenced by the volatile nature of crude oil prices. For example, during the peak of the COVID-19 pandemic, crude oil prices plummeted to historical lows, leading to a significant drop in the pricing of thermoplastics used in production. The price and availability of raw materials are two of the most important factors influencing the demand for geocomposites. Therefore, fluctuating crude oil prices have been demonstrated to affect raw material costs substantially, and are expected to restrict market growth.

Geocomposites Market Segmentation Analysis

By Product Analysis

Geotextile - Geonet Composites Segment to Dominate Market due to its Drainage Properties

By product, the market is divided into geotextile - geonet composites, geotextile - geomembrane composites, geomembrane - geogrid composites, geotextile - geogrid composites, and others.

The geotextile - geonet composites segment is expected to dominate the market in the coming years. Geotextile - geonet composites outperform geotextile alone in terms of drainage capabilities. Whether geotextile is employed over or beneath a geonet or whether geotextile-geonet-geotextile is sandwiched, the separation and filtering capabilities are always met. These products provide excellent drains to upwardly flowing water in a capillary zone where frost heave or salt migration is a concern if installed horizontally. When water enters the sandwich, it flows horizontally across the geonet, away from the area where it tends to cause harm. These are also utilized in landfills to trap and transport leachate and channel vapor or water beneath various types of pond liners.

Geotextile – geogrid composites are multifunctional and primarily designed to reinforce unstable subgrades. The nonwoven geotextile offers separation and filtration while the geogrid provides soil reinforcement. Nonwoven geotextile’s high elongation capacity ensures that the composite geogrid's interlocking ability with the fill material is not compromised, and stress is distributed evenly to the geogrid. These are extensively employed in constructing roads and railways, landfills, airports, and hydraulic engineering, as well as for crack prevention and road pavement reinforcement.

By Function Analysis

Drainage Segment to Hold Largest Market Share due to its Wide Usage in Railways, Road, and Landfills Applications

By function, the market is classified into separation, drainage, reinforcement, and others.

The drainage segment accounted for the largest geocomposites market share in 2022. Geocomposites offer a large capacity for in-plane drainage, making them ideal as drainage components. Filter-net-filter composites are used for general area drainage and are easy-to-install alternatives to stone. Filter-net-membrane composites are employed as a cut-off drain, draining from one side alone and preventing the other. Both types can be used in a vertical or horizontal configuration. Composites are used extensively in drainage applications for landfills, roads, railways, retaining walls, and other structures.

Geocomposites are placed between different materials so that the integrity and functionality of both materials remain intact and even improve during the life cycle of the construction. Contamination of the aggregate base course with the underlying soft subgrade soil is one of the most common causes of pavement and roadway construction failure over soft foundations. The intermixing of the two layers results in localized bearing failures in roads, increasing maintenance costs and shortening the life cycle. It is used to accomplish the separation function between the subgrade and the aggregate base layer. The geotextile inhibits aggregate intrusion into the subgrade and fines migration into the base. Thus, composites improve pavement performance by retaining the integrity of both layers.  

By Application Analysis

Road & Highway Segment to Hold Major Share as Geocomposites Increase the Service Life of Roads and Bridges

On the basis of application, the market is segregated into road & highway, landfill & mining, soil reinforcement, water & wastewater management, and others.

The road & highway segment accounted for the highest market share in 2023 and is expected to continue its dominance during the forecast period. Geocomposites are primarily utilized in soil reinforcement for civil construction. A few of the specific road and highway construction applications include subgrade separation and stabilization, base reinforcement, overlay stress absorption, and overlay reinforcement. It improves soil stability and prevents erosion while allowing water to drain off. Composites offer a separation function, maintaining the integrity and functionality of distinct layers in the road, thereby improving the performance and lifespan of the road infrastructure.

The product offers an effective impermeable barrier that prevents any liquid from migrating, enabling flow control and a wide range of water and wastewater management applications. Geosynthetics are widely used in water containment end-uses such as potable water & wastewater treatment facilities. Typical examples are lined structures in treatment lagoons, sedimentation basins, and digestion ponds. For instance, a geomembrane-based geocomposite is employed as a low-permeability barrier between the contained water or wastewater and the subgrade. The product may be used as a protective layer within concrete structures and in grit chambers and vertical flow control baffles. The product has also proven to be a cost-effective way to repair older concrete, clay, or steel-lined structures that have developed cracks and leakages over time.

REGIONAL INSIGHTS

Even after the short-term impacts of the pandemic, the long-term growth trajectory of the construction sector in North America appears to be quite optimistic. The region's construction sector is anticipated to expand substantially during the forecast period due to rising government and private sector investment. For example, the Biden administration announced several infrastructure plans to rebuild and upgrade the U.S. infrastructure. A major portion of these investments is earmarked for developing residential buildings and modernizing transportation infrastructure such as highways, roads, and bridges, among other things. Rising investments such as these are expected to boost the regional construction sector, thus expanding the market growth.

The Asia Pacific  market is anticipated to witness rapid growth, owing to rising demand from the construction and infrastructure development industry. Emerging economies, such as China and India, and other Southeast Asian countries are expected to invest heavily and undergo massive infrastructure transformation during the forecast period. Asia Pacific is currently home to over 60% of the world's population, and people's purchasing power and living standards have improved substantially over the last few decades. This trend is expected to continue during the forecast period, resulting in a significant increase in demand for new residential and commercial buildings, highways and railways, and other infrastructure projects. Geosynthetic materials are expected to benefit from their broad use in the construction sector, and the market will likely expand at pace with the region's rapidly expanding construction sector.

The Europe market is expected to expand consistently due to rising demand from the construction sector. The construction industry is vital to the EU's economy. The industry employs around 18 million people directly and accounts for nearly 9% of the EU's GDP. Following the initial setback caused by COVID-19 restrictions, the region's construction sector has recovered. However, high prices and building material shortages limit the growth pace. The EU has supported the region's construction sector through its policies and economic stimulus program. With government support, the construction sector is anticipated to swiftly recover and return to pre-pandemic levels, resulting in a rise in demand for construction materials.

The Latin America market is expected to witness a moderate growth, owing to the region's underdeveloped construction sector. Markets in the Middle East & Africa are expected to witness substantial growth due to an increase in the number of complex construction and infrastructure projects undertaken in the region. For example, China has been investing heavily in developing infrastructure in African countries. The rising construction activities are likely to benefit and expand the regional market.

List of Key Companies in Geocomposites Market

Companies Engage in Product Innovations to Enhance Market Entry Stratagem

The global market share is competitive, with key players operating in the industry such as TenCate, Thrace Group, GSE Environmental, HUESKER, Terram, and others. Companies are mostly involved in product supply and distribution to small & medium scale businesses to build the market competition.

LIST OF KEY COMPANIES PROFILED:

• CLIMAX SYNTHETICS PVT. LTD. (India)


• TenCate Geosynthetics Americas (U.S.)


• Leggett & Platt, Incorporated (U.S.)


• GSE Environmental (U.S.)


• Thrace Group (Greece)


• ABG Ltd. (U.K.)


• HUESKER (Germany)


• Officine Maccaferri Spa (Italy)


• Terram (U.K.)


• Ocean Global (India)


• SKAPS Industries (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2023- Genap signed an exclusive partnership with Watershed Geo, a key geosynthetics manufacturer, for the distribution and installation of ClosureTurf, a synthetic end capping system for landfills.


• February 2022 – Freudenberg Performance Materials, a Germany-based geosynthetics manufacturer, introduced EnkaGrid MAX C, a new geogrid geocomposite. The geocomposite consists of nonwoven geotextiles that are reinforced using geogrids and can provide functions such as separation and filtration in soil media.


• October 2021 - Geofabrics Australasia announced the acquisition of Plascorp. The acquisition will establish one of Australia's and New Zealand's largest private companies, manufacturing and marketing highly engineered industrial products and solutions. The acquisition will strengthen Geofabrics' competitive edge in constructing major road, rail, and mining infrastructure using Australian manufactured and recycled materials. According to the company, the consolidation of Geofabrics and Plascorp brings to market a company that offers a wide range of geosynthetic and industrial solutions to their clients while utilizing local and recycled content, Australian R&D, and help in the development of local employment.


• June 2021 - Solmax acquired TenCate Geosynthetics. This acquisition will improve its operational capacity, geographic reach, and resources, allowing it to establish a stronger position in the geosynthetics sector.


• May 2021 -  NAUE and Prosé Geotechniek, a Dutch geosynthetics supplier, formed a joint venture NAUE Prosé. NAUE Prosé will provide the entire NAUE product line as well as installation services. Through NAUE Group's engineering office, the joint venture will also provide design services. This integration will expand the company's market reach and allow them to better serve every market.


• May 2021 - BontexGeo Group completed its acquisition of ABG Geosynthetics. The BontexGeo Group, a European producer and distributor of geotextiles for civil engineering applications, has agreed to acquire 100% shares of ABG Ltd, a West Yorkshire (U.K.)-based firm specializing in the development and sale of geosynthetic systems with a strong presence in the U.K. This acquisition strengthens the company's position in the U.K. market and reinforces its commitment to invest in growth prospects.

REPORT COVERAGE

The report offers an in-depth market analysis and focuses on key aspects, including major market players, functions, products, and applications. Also, the report offers insights into market trends and highlights the major industry advances. This report includes historical data & forecasts revenue growth at global, regional, and country levels, and analyzes the industry's latest market dynamics and opportunities. In addition to the key attributes mentioned above, the report incorporates various factors contributing to the market's growth in recent years.

Report Scope & Segmentation