Regional Geotextiles Market Size, Trends & Forecast 2032
According to Fortune Business Insights the global geotextiles market was valued at USD 3.39 billion in 2023 and is expected to reach USD 3.62 billion in 2024. The market is projected to grow to USD 6.14 billion by 2032, registering a compound annual growth rate (CAGR) of 6.8% during the forecast period.Rising demand for high-performance geotextiles in road construction, erosion control, and agriculture—along with rapid construction industry growth is driving market expansion. These textiles enhance soil stability for infrastructure projects and offer protection against climate-related disasters. Their popularity is further boosted by benefits like high mechanical strength and liquid repellency, supported by increased government investments in construction.
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Geotextiles Market Segmentation:
- By Material: The synthetic segment, particularly polypropylene (PP), dominates due to its high strength, low elongation, and suitability for applications like roads, dams, and railroads.
- By Product: Non-woven geotextiles lead the market, driven by rising infrastructure projects. Their lightweight, durability, and environmental benefits make them ideal for roads, railways, drainage, and filtration.
- By Application: Road construction is the largest application segment, supported by increased automobile usage and government investments. Geotextiles enhance soil stability and reduce erosion, extending road life.
What does the Report Provide?
The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Driving Factors:
Increasing Investment in Construction Projects to Promote Growth
According to the U.S. Commerce Department, the spending on construction projects was at a record high in January 2021. It further reports that the total investment surpassed to a staggering USD 1.521 trillion, an overall increment of 1.7%. The increasing spending on construction projects is likely to boost the adoption of coir products owing to their superior properties such as liquid repellency and mechanical strength. Moreover, supportive government policies formulated for coir manufacturers to improve their production will boost the global geotextiles market growth in the forthcoming years.
Further Report Findings:
- Asia Pacific stood at USD 3,038.1 million in 2020. The region is expected to hold the highest position in the market during the forecast period. This is attributable to the increasing government initiatives to develop infrastructure in countries such as India and China.
- North America is expected to showcase considerable market growth backed by the presence of highly developed drainage systems that require periodic maintenance propelling the demand for advanced geotextiles in countries such as the U.S. and Canada.
- Based on product, the woven segment held a global geotextiles market share of about 34.18% in 2020 and is anticipated to showcase significant growth in the forthcoming years. This is ascribable to factors such as the increasing demand for woven products due to their beneficial properties such as improved performance and reduced maintenance costs across the globe.
Competitive Landscape:
Investment in R&D by Key Players to Amplify Their Market Positions
The market is consolidated by major companies striving to leverage the lucrative opportunities to maintain a stronghold. These companies are focusing on investments in R&D activities to develop novel natural geotextiles to cater to the growing demand from the construction sector. Moreover, other key players are trying to maintain their presence by adopting strategies such as collaboration, facility expansion, and the introduction of new products that will contribute to the growth of the market in the forthcoming years.
Industry Development:
- March 2020 - Megaplast, an Indian polyethylene product manufacturer, announced the adoption of BASF’s light stabilizers from the Chimassorb to produce nonwoven geotextiles. They are likely to be utilized in the construction of national highways.
List of the Companies Profiled in the Market:
- Maccaferri (Bologna, Italy)
- TENAX (Lecco, Italy)
- TenCate Geosynthetics Asia Sdn Bhd. (Selangor Darul Ehsan, Malaysia)
- GSE Environmental (Texas, the U.S.)
- Terram Geosynthetics Pvt. Ltd. (Gujarat, India)
- HUESKER Synthetic GmbH (Gescher, Germany)
- Global Synthetics (New South Wales, Australia)
- TYPAR Geosynthetics (Tennessee, the U.S.)
- Fibertex Nonwovens A/S (Aalborg, Denmark)
- Belton Industries (South Carolina, the U.S.)
- Thrace Group (Alimos, Greece)
- NAUE GMBH & CO. KG (Espelkamp, Germany)
- Other Key Players
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