Geotextiles Market to Advance at CAGR of 10.3% During Forecast Period 2021-2031: TMR Study
- Advancements in functional characteristics of geotextiles to expand application possibilities in large-scale infrastructure projects in developing economies; growing applications of geosynthetics to underpin profitable avenues
- Massive use in road construction and erosion control applications to propel revenue sales; new infrastructure development in Asia Pacific to steer geotextiles market growth
ALBANY, N.Y., May 16, 2022 /PRNewswire/ -- Ongoing large-scale infrastructure projects are fueling global demand for geotextiles in the architecture, engineering and construction (AEC) industry. The growing utilization of geotextiles with improved functional characteristics and cost-effectiveness for erosion control applications are steering revenue expansion of the geotextiles market. Globally, the market valuation is projected to reach US$ 22.9 Bn by 2031, advancing at a CAGR of 10.3% during the forecast period of 2021?2031.
Rise in geotechnical engineering applications in developed and developing economies have created profitable sales avenues in the geotextiles market. Nonwoven geotextiles are extensively used in geomembranes, drainage composites, and geogrids, and the trend has propelled sales revenues for manufacturers. Advancements in nonwoven textiles are spurring the growth of the geotextiles market.
Favorable regulatory outlook for the construction of roads has spurred the demand for geosynthetics in various functional requirements in the application. Rise in demand for geotextiles in a number of civil engineering applications has expanded revenue gains for players in the geotextiles market. Emerging geotechnical applications in the AEC industry has spurred the revenue generation, find the TMR report on the geotextiles market.
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Key Findings of Geotextiles Market Study
- Numerous Geotechnical Engineering Applications to Fuel Uptake of Geotextiles: The geotextiles market has been growing in valuation from the massive demand for the products in several geotechnical applications. Of note, widespread use in a myriad of civil engineering applications is driving revenue growth of the global geotextiles market.
- Myriad Applications in AEC Industry to Underpin Enormous Lucrative Avenues: Changing regulations on the use of materials in the AEC industry has changed the course of demand in the geotextiles market. Furthermore, improvements in performance and cost-effectiveness of the products are spurring the application in civil engineering purposes, such as in infrastructural works. New advancements in geosynthetics have expanded the lucrative avenues for players in the geotextiles market, assert the TMR analysts securitizing key opportunities in various product categories. The use in land reclamation projects has also bolstered the sales.
- Construction of Roads to Catalyze Need for High-quality Materials: Growing public and private infrastructure has spurred the need for low-maintenance roads. This has led to the utilization of high-quality geotextiles in road constructions, especially in emerging economies. Highway roadway constructions on various soil conditions has also catalyzed need for advanced products in the geotextiles market.
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Geotextiles Market: Key Drivers
- Continuous increase of GDP of numerous economies in developing regions of the world has spurred the number of road construction projects and infrastructure projects. This has fueled the sales of geotextiles in the construction sector.
- Strides made in the civil engineering applications of developing countries have expanded lucrative avenues for companies in the geotextiles market.
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Geotextiles Market: Regional Growth Dynamics
Asia Pacific held a leading share of the global geotextiles market in 2020. Abundant use of geotextiles in various applications in the construction industry has propelled revenue growth. Demand has risen on the back of governments' spending on construction projects is propelling the revenue generation, find the authors of the study on the geotextiles market. China is expected to contribute substantial revenue shares in the Asia Pacific market in 2020.
Geotextiles Market: Key Players
Some of the key players in the geotextiles market are Global Synthetics, Agru America, Tenax, Fibertex Nonwovens A/S, Fiberweb, Low & Bonar, NAUE GmbH & Co. KG, Officine Maccaferri, GSE Holding Inc., Propex, and Royal TenCate.
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Global Geotextiles Market: Segmentation
Geotextiles Market, by Type
- Nonwoven
- Woven
- Knitted
Geotextiles Market, by Application
- Roadway Construction
- Soil Erosion Prevention & Control
- Drain Management
- Others
Geotextiles Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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