Geotextiles Market Key Facts, Dynamics, Segments, And Forecast To 2030
Global Geotextiles Market Highlights over 2022 – 2030
The global geotextiles market is estimated to grow at a CAGR of ~11% over the forecast period, i.e., 2022 – 2030. The market is segmented on the basis of application, into heavy construction, building and pavement construction, hydrogeology, environmental engineering, and others, out of which, the building and pavement construction segment is estimated to gain a significant share over the forecast period, owing to the growing application of geosynthetics in construction sector. Geotextiles are used under the pavement to reduce degradation caused by the layer of soil underneath, along with increasing the durability of the structure.
Research Nester published a report titled “Geotextiles Market: Global Demand Analysis & Opportunity Outlook 2030″ which delivers detailed overview of the global geotextiles market in terms of market segmentation by type, fabric type, application, and by region.
The global geotextiles market is projected to grow on the back of its various advantages, such as, higher strength and durability, resistance to UV degradation, and stress absorption, which prolongs the life of the road or pavement. The growing construction of highways, along with increasing environmental awareness amongst the constructors, are estimated to boost the market growth. Moreover, growing application of geotextile fabrics to curb degradation and soil erosion and increasing government initiatives to promote regeneration of forests are estimate to fuel the market growth.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
On the basis of region, the global geotextiles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period owing to the increasing construction activities, especially construction of new highways and roads in the region. According to a report by the India Brand Equity Foundation (IBEF), USD 14.85 billion are to be allocated to the ministry of Road Transport and Highways for the construction of roads for FY 2021-22. Such factors are estimated to boost the market growth in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
Growing Construction Activities likely to Boost the Market Growth
With the growth in population and urban development, construction activities are increasing across the globe. However, roads, pavements, and others face degradation caused by soil, on which the mortar is laid. Usage of geotextiles can significantly reduce this degradation by forming a layer between the strata of soil and the road. This is the prominent factor estimated o boost the market growth.
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However, high cost of geotextile fabrics is expected to operate as key restraint to the growth of the global geotextiles market over the forecast period.
The global geotextiles market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
This report also provides the existing competitive scenario of some of the key players of the global geotextiles market which includes company profiling of Propex Operating Company, LLC, Officine Maccaferri SpA, NAUE GmbH & Co. KG, GSE Environmental, LLC, Koninklijke Ten Cate B.V., Strata Systems, Inc., Leggett & Platt, Berry Global, Inc., Thrace Group, and Agru America Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global geotextiles market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.