The Geotextiles Market is predicted to experience significant growth during the forecast period, registering a CAGR of 11.4% and increasing from USD 5.75 billion in 2020. This growth is due to the rising demand for Geotextiless, mainly in emerging markets, caused by an increase in population, industrialization, and urbanization. Geotextiless are fabrics used in geotechnical applications to perform one or more basic tasks such as filtration, drainage, soil layer separation, reinforcing, and stabilization. The major factors driving the market's growth include the flexibility and permeability of Geotextiles fabrics, the durability and cost efficiency of Geotextiles, and its ability to address environmental concerns about soil erosion. The market is facing limitations due to volatile raw material prices that affect synthetic Geotextiles demand. Nonetheless, manufacturers are targeting the expansion of their manufacturing capacity and global footprint, and they are looking to include improved resource economy and a reduction in greenhouse gas emissions into their product offering. The non-woven segment is expected to have the fastest CAGR during the forecast period. Asia Pacific is expected to be the largest market share, with China and India leading the infrastructure construction industry.
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Top Leading Players In The Global Geotextiles Market Are:
Low & Bonar (UK), Officine Maccaferri (Italy), Koninklijke TenCate (Netherlands), Thrace Group (Greece), Huesker (Germany), Berry Global (US), Fibertex Nonwovens (Denmark), DuPont (US), Strata Systems (US), Carthage Mills (US) and others.
Further key findings from the report suggest:
- The Geotextiles Market is forecasted to grow from USD 5.75 billion in 2020 to USD 11.86 billion by 2028, at a CAGR of 11.4%, during the forecast period. Increasing population; increasing industrialization and rapid urbanization have compounded growth in emerging markets, leading to a sharp increase in Geotextiles adoption.
- The market for non-woven segment is expected to grow the largest at USD 4.98 Billion in 2028, at a CAGR of 12.2% during the forecast period. Increasing demand in the road rail industry for nonwoven Geotextiless is one of the key factors driving global growth in the Geotextiles market. In applications such as roads, payment overlays and aggregate drains, non-woven Geotextiless are used. The woven Geotextiles is used for applications where high strength Geotextiles is required. While Geotextiless are widely used in rock filtration, Geotextiless are not suitable for liquid barriers filtration.
- The market for synthetic segment is expected to grow the largest and fastest at USD 6.41 Billion in 2028, at a CAGR of 12.3% during the forecast period. The Geotextiles segment of polypropylene is expected to be the largest subsection of the synthetic Geotextiles. It is also expected that this segment will grow at the highest CAGR during the forecast period.
- The market for road construction is expected to grow the largest and reach USD 4.39 Billion in 2028, at a CAGR of 12.4% during the forecast period. Geotextiless are used for the construction of roads as they help to keep the soil together, resulting in a longer life span of roads.
- The market for Asia Pacific (APAC) is expected to grow the largest and reach USD 3.68 Billion in 2028, at a CAGR of 12.4%. The main Geotextiles market in this region is China, India, Japan and South Korea. The key factor driving market growth is the increasing number of infrastructure development activities in the region, particularly in ASEAN countries. Several leading players have conducted strategic expansion activities in this region to meet the growing demand from the construction and agricultural industries
Segments covered in the report:
Material (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Synthetic
- Natural
Product (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Woven
- Non-woven
- Knitted
Application (Kilo Tons) (Revenue, USD Million; 2018-2028)
- Erosion
- Drainage Control
- Road Construction
- Others
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market?
- What kind of strategic business plans have they made?
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