Geotextile Market size to exceed $10.7 bn by 2024
Published Date: August 22, 2019 Authors: Kunal Ahuja, Kritika Mamtani
Geotextiles Market size is set to surpass USD 10.7 billion by 2024; according to a new research report by Global Market Insights, Inc.
Increasing demand for improved infrastructure in residential & commercial buildings has urged manufacturers to develop high performance, multifunctional textiles for various construction activities which is likely to stimulate the market growth. Increasing consumer awareness towards the benefits of geotextiles over traditional materials such as steel, metals has boosted their usage in various industries which is likely to accelerate the market growth.
These fabrics are used in providing soil stability, erosion control and also help with drainage pertaining to their ability to reinforce earthen structures by holding layers in place and separate layers of materials by keeping them from sinking into each other. These products are used with mixture of rock and soil to increase the stability of roads and reduce wind & water erosion. Rising urbanization has boosted the demand of high performance and smooth going roads which will drive the geotextile market demand.
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Knitted product demand may observe significant gains at over 8.5% by 2024. Growing demand for lightweight products to ensure easy handling and reduce transportation cost is likely to fuel the product demand. These products offer smooth fabric surface, permeability, and lightweight which makes them useful in road construction applications. They are widely utilized in various civil engineering applications owing to their high flexibility and suitable texture, thereby driving the market growth.
Geotextile market share from drainage application is expected to surpass USD 1.7 billion up to 2024. These products offer exceptional tensile strength, elongation properties and permeability which are ideal for use in drainage systems. These products are used extensively in critical structural drainage applications such as basements and retaining walls as they efficiently collect superfluous water from structures, soil and discharge it. These products eliminate any potential clogging and prevent costly project damage which is likely to propel the product demand.
Browse key industry insights spread across 275 pages with 353 market data tables and 34 figures & charts from the report, “Geotextile Market Size By Material (Synthetic [Polypropylene, Polyester, Polyethylene], Natural [Jute, Coir]), By Product (Non-Woven, Woven, Knitted), By Application (Road Construction, Erosion Control, Pavement Repair, Drainage, Railroad, Agriculture), Application Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
U.S. geotextile market share may witness significant gains at over 9.0% during the projected period. Growing commercial construction owing to increasing urbanization has increased the need of sustainable drainage systems to prevent water clogging in rail and railroad construction. This has boosted the demand for superior material which separate two layers during intense hydraulic activity. Rising R&D activities towards the development of high quality, biodegradable materials are likely to drive the product demand in the region.
Germany geotextile demand from is shall witness gains over 8.0% during the forecasted time period. Increasing middle class population has boosted the demand for affordable residential buildings which is expected to fuel the market growth. Rising government investments in infrastructural projects along with rapid increase in population has urged manufacturers to develop economically feasible solutions for the construction industry. Growing demand for energy efficient building solutions which impart less environmental impact and extend the life span should drive the product demand.
China geotextile market demand is expected to account over 11.0% during the projected time period. Growing developments in construction industry along with increasing government initiatives to launch hi-tech railway projects is likely to drive the market growth. Significant capabilities of the material in separation, filtration and reinforcement has increased its usage in various construction projects which is the key driving factor of the market. Growing regulations favoring the use of geotextile and increasing technological innovations should further drive the product demand.
Thrace plastics, Terram Geosynthetics, Royal Ten Cate and Belton Industries are major industrial participants in geotextile market share. Companies are focusing to improve their business by strategic mergers & collaborations with focus on R&D to improve the product portfolio.
Geotextile market share research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in Tons and revenue in USD from 2014 to 2025, for the following segments:
Geotextile Market, By Material
Geotextile Market, By Product
- Road Construction
- Erosion control
- Pavement repair
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Saudi Arabia
- South Africa