Global Geotextile Market Size Estimated to Reach USD 14.03 Billion by 2026, at 8.8% CAGR: 8.8%
The global geotextile market size is anticipated to reach $14.03 billion by 2026, growing at a CAGR of 8.8% during the forecast period, according to a report published by Polaris Market Research.
Geotextiles are extensively used in the reinforcement of soil banks in bridges, pavements, roads, highways, and other construction sector. Their integral applicable functions include sealing, separation, drainage, filtration, and reinforcement in different substrates. Concerning their multifunctional characteristics, the geotextiles are suitable for a range of industries and tend to find application in transportation, maintenance industries agriculture, and construction, among many.
The rapidly growing demand for non-woven fabrics has increasingly gained significance and has flourished in the recent past. This has led to increasing applications with the growing number of constructions sites and growing infrastructural structural developments across the world. Governmental authorities of numerous countries have taken precautionary measures during different types of construction on account of growing awareness regarding the degradability of roads during natural calamities and to promise enhanced quality and durability.
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Polypropylene geosynthetics is an essential geotextile that requires lower maintenance costs and results in the longevity of the roads and similar construction structures. The areas which are prone to any natural calamity such as landslides have witnessed these geotextile materials of significant use, thereby providing a suitable alternative for such scenarios. For instance, the Ministry of Textiles (Government of India) launched a program/scheme for promoting the usage of geotextiles in road applications in the Northeastern region of the country.
The roadways segment is likely to witness the fastest growth rate during the forecast period on account of growing issues concerning the lifespan of roads, their maintenance issues, and a growing stabilization. The use of geotextile products is a cost-effective solution towards highway rehabilitation and pavement repairs, especially in the emerging countries of the Asia-Pacific, where cost is among the most important concern. The consumption of these products in China, Japan, and India has increased prominently during recent years, further strengthening the market growth.
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The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Geotextile Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and the Rest of Asia-Pacific.
The geotextile market in Europe is expected to witness major growth during the forecast period. Some of the significant reasons behind this include increasing expenditure in the construction of roads, railways, airport runways, and pavements in the countries such as Italy, the UK, Germany, and France. The rail & road authorities in the previously-mentioned nations have published multiple policies & regulations concerning the drainage plants and wastewater treatment processes.
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Competitive Landscape and Key Vendors
The global geotextile industry constitutes numerous large international market payers and is a fragmented industry. These market players consistently undertake R&D for the launch of new innovative products to strengthen their product portfolio in the industry. In addition, the companies focus mainly on foreign investments in research and development to cater to the rapidly growing demand. Big market players are also focusing on their business expansion through inorganic developments which increases the potential concerning the expansion of customer base and also geographic expansion.
Top Market Players
Some of the prominent industry players include Berry Global, Agru America, Inc., Carthage Mills, DuPont, Strata Systems, Mattex, Propex Operating Company Koninklijke Ten Cate, Kaytech, Tenax, and Leggett & Platt.
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Polaris Market Research has segmented the global geotextile market on the basis of product, technology, material, application, and region:
Geotextile by Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Geotextile by Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
Geotextile by Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
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