Increasing population, increasing industrialization and rapid urbanization have compounded growth in emerging markets, leading to a sharp increase in geotextile adoption.
Market Size – USD 4.64 billion in 2018, Market Growth - CAGR of 11.4%, Market Trends –Increasing demand in applications for road construction and erosion control prevention.
NEW YORK, April 09, 2019 (GLOBE NEWSWIRE) -- The Geotextile Market is forecasted to grow from USD 4.64 billion in 2018 to USD 11.86 billion by 2026, 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 geotextile adoption.
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Typically, geotextiles are used to improve soils that build streets, pipelines, embankments, and earth holding structures. They consist of numerous materials, including warp-knitted textiles, open - mesh textiles, and non - woven textiles. Filtration, separation, reinforcement, protection and drainage are the primary functions of the product. Geotextiles have filtration properties that allow water and other fluids to be separated from various solid particles. This filtration function is used mainly in drainage applications.
Geotextile’s properties like flexibility and permeability are expected to drive the growth of the market during the forecast period. It is also expected that durability and cost effectiveness of geotextile will boost the market further during the forecast period.
Growing bio-based geotextile consumption and rising investments in nonwoven geotextile are the key opportunities of the market. The factors that inhibit geotextile market growth include volatile raw material prices that affect synthetic geotextile demand.
Further key findings from the report suggest
- The Geotextile Market is forecasted to grow from USD 4.64 billion in 2018 to USD 11.86 billion by 2026, 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 geotextile adoption.
- The market for non-woven segment is expected to grow the largest at USD 4.98 Billion in 2026, at a CAGR of 12.2% during the forecast period. Increasing demand in the road rail industry for nonwoven geotextiles is one of the key factors driving global growth in the geotextile market. In applications such as roads, payment overlays and aggregate drains, non-woven geotextiles are used. The woven geotextile is used for applications where high strength geotextile is required. While geotextiles are widely used in rock filtration, geotextiles are not suitable for liquid barriers filtration.
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- The market for synthetic segment is expected to grow the largest and fastest at USD 6.41 Billion in 2026, at a CAGR of 12.3% during the forecast period. The geotextile segment of polypropylene is expected to be the largest subsection of the synthetic geotextile. 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 2026, at a CAGR of 12.4% during the forecast period. Geotextiles 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 2026, at a CAGR of 12.4%. The main geotextile 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
- The major players in the 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.
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Segments covered in the report:
This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of material, product and application regional analysis.
Material (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Synthetic
- Natural
Product (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Woven
- Non-woven
- Knitted
Application (Kilo Tons) (Revenue, USD Million; 2016-2026)
- Erosion
- Drainage Control
- Road Construction
- Others
Region (Kilo Tons) (Revenue, USD Million; 2016-2026)
- North America ○ U.S ○ Canada
- Europe ○ Germany ○ France ○ UK ○ Italy ○ Spain ○ Rest of the Europe
- Asia Pacific
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