The
global geotextile market is expected to reach USD 8.18
billion by 2024, according to a new report by Grand View Research, Inc. Cost
effectiveness, longer life span as compared to other materials, and growing
environmental concerns is expected to have a positive impact on the industry
over the next seven years.
These
products are relatively inexpensive and when appropriately designed are used as
replacements for traditional granular treatment which aids in significant cost
saving in terms of fabric as well as labor. This is expected to boost industry
growth over the next eight years.
Rising
government expenditure for infrastructure development, especially in Asia
Pacific including India and China, is projected to fuel product need over the
forecast period. Also, increasing the need for efficient drainage systems in
various regions particularly in North America and Europe will have a positive
impact on industry growth.
U.S. Geotextile Market volume, by application, 2013 - 2024 (Million Square Meters) |
Geotextiles
have been gaining popularity over the last few years due to increasing
awareness regarding their benefits such as high durability, high tensile
strength, and biodegradability. Rising environmental concerns among consumers
are expected to fuel product demand over the forecast period.
Browse full
research report on Geotextile Market: www.grandviewresearch.com/industry-analysis/geotextiles-industry
Further key
findings from the study suggest:
- Global Geotextile Market size was 4,505.0
million square meters in 2015 and is projected to reach 10,897.3 million
square meters by 2024, growing at a CAGR of 10.4% from 2016 to 2024
- Woven geotextile market was estimated at over
1,200.0 million square meters in 2015. Limited availability coupled with
high product prices as compared to non-woven textiles will hamper industry
growth over the forecast period. In addition, its heavier weight with
limited ranges of fabric availability may act as a market challenge.
However, rising use in erosion prevention in China is expected to fuel
demand over the forecast period.
- Polypropylene is projected to be the
fastest-growing raw material for geotextile manufacturing in terms of
revenue at a CAGR of over 13.0% from 2015 to 2024. Rising product use in
road construction on account of its efficient filtration properties and
longer lifespan as opposed to polyester and polyethylene is expected fuel
need over the projected period.
- Drainage is anticipated to be a potential
market for geotextiles over the next eight years on account of increasing
government spending on infrastructure development which includes drainage
facilities in developed as well as developing nations. Product market for
drainage applications was estimated at over 700 million square meters in
2015.
- North America was the second largest market
with demand over 1,000.0 million square meters in 2015. Strict
environmental regulations have influenced manufacturers to shift from
synthetic to natural raw materials such as jute and sisal. Europe followed
North America and accounted for over 21.00% of the global volume in 2015.
- In February 2013, GSE acquired SynTec LLC, a
manufacturer of various geosynthetic products for USD 10 million to
broaden its product portfolio. In May 2013, GSE initiated production of
geosynthetics primarily geotextiles at its plant in Suzhou, China with an
annual capacity of about 20,000 tons.
Browse more
reports of this category by Grand View Research: www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global Geotextile Market on the
basis of product, material, application and region:
Geotextiles Product Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Non-woven
- Woven
- Others
Geotextiles Material Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Polypropylene
- Polyester
- Polyethylene
- Others
Geotextiles Application Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Road
construction
- Erosion
control
- Drainage
- Others
Geotextiles Regional Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
- U.A.E
Access
Press Release By Grand View Research: www.grandviewresearch.com/press-release/global-geotextiles-market
About Grand
View Research:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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