GEOCOMPOSITES MARKET ANALYSIS
Market Dynamics:-
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. 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.
Market Trends:
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