Polaris Market Research has recently released its report on the global geotextile market and it has pegged the pie size to touch US $ 14.3 bn by the year 2026 recording a CAGR of 8.8%.
The report named ‘Geotextile Market Size by Technology Type (Woven, Nonwoven, Knitted), By Material Type (Polyester, Polyethylene, Polypropylene), By Application Type (Agriculture, Drainage, Erosion Control, Railways, Roadways), By Regions & Segments Forecast, 2018-2026’ is an exhaustive study which analyses the current market dynamics and forecasting future trends.
The report records emerging market trends and growth prospects across North America (segmented into US, Canada and Mexico), Europe (divided into Germany, UK, Italy, France and Rest of Europe), APAC, South America, MEA and Asia Pacific (bifurcated into India, China, Japan, and Rest of Asia Pacific).
Excerpts from the report:
Fulfilling Domain Needs
Geotextiles are being extensively used in the reinforcement of soil banks in bridges, pavements, roads, highway, and other sectors such as maintenance, agriculture and transportation. Their integral applicable functions include sealing, separation, drainage, filtration, and reinforcement in different substrates. The permeability and filtration properties of geotextiles allow them to retain different particles while allowing water and other fluids to pass through.
Nonwoven fabrics are witnessing increased demand globally, in the construction and infrastructural domains in the recent times. The reason being numerous countries are upping their ante on taking strict precautionary measures during different types of construction and delivering improved quality and durability in their projects.
Noting the worth of polypropylene geo-synthetics in offering longevity at low maintenance costs in road construction, the Ministry of Textiles, Government of India has launched a scheme for promoting the usage of geotextiles in road applications in the country’s North Eastern region. These geotextiles prove valuable in areas prone to landslides and other natural calamities.
Catering to Global Requirements
The consumption of geotextile products in India, Japan, South Korea and China has been going up in the recent times as they have proven to be a cost-effective solution in highway rehabilitation and pavement repairs. This has further strengthened the market of geotextiles in the Asia Pacific.
The European geotextile market is expected to witness a major growth wave during the forecast period due to the projected increase in expenditure in the construction of roads, railways, airport runways, and pavements in the countries like Italy, UK, Germany, and France. The concerned rail and road authorities in these countries have already published policies and regulations to streamline drainage and waste water treatment processes. This will further strengthen the case for the usage of geotextiles.
Positive Outlook
The global geotextile industry, despite being promising, is still a fragmented industry. The biggest of the domain players consistently undertake R&D and launch new and innovative products to strengthen their product portfolio in the industry. They are also focusing on business expansion through inorganic developments which increases the potential of expansion of their customer base and also geographic expansion.
Despite the positive outlook, the industry must address the challenge of replacing synthetic material used in geotextiles which is a petrochemical product that releases carbon emissions. Another challenge comes in the form of inadequate standards and lack of consumer awareness that can dampen the growth of the geotextile market in the coming years.
Polaris Market Research has segmented the global geotextile market on the basis of product, technology, material, application and region:
Geotextile by Technology Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
• Woven
• Non-woven
• Knitted
Geotextile by Material Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
• Polyester
• Polyethylene
• Polypropylene
• Others
Geotextile by Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
• Agriculture
• Drainage
• Railways
• Roadways
• Others
Geotextile by Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2015 – 2026)
• North America
• U.S.
• Canada
• Europe
• Germany
• UK
• France
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• Latin America
• Brazil
• Rest of Latin America
• Middle East and Africa
• Saudi Arabia
• UAE
