Geotextiles Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Geotextiles Market
The geotextiles market size was valued at USD 3.39 billion in 2023, and the market is now projected to grow from USD 3.62 billion in 2024 to USD 6.14 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period of 2024-2032.
The COVID-19 pandemic created significant opportunities on the geotextiles market growth as curbing coronavirus outbreak was prioritized. The geotextiles marketplace experienced disruptions in the course of the COVID-19 pandemic due to delivery chain demands and creation assignment delays. However, a sluggish recovery became underway as production resumed, driving the demand for geotextiles in infrastructure and surrounding projects.
The geotextiles market share globally has been contributed due to the increasing investments in construction projects. The increasing infrastructure spending on exceptional creation projects will raise the demand for geotextiles. State, nearby, and federal governments are the key contributors to toll road creation investment. Moreover, increasing public-non-public partnerships (P3s), as they obtain cash and the authorities’ approval to build roads and highways, will possibly improve the product’s demand.
Furthermore, there’s been a notable trend of deploying coir in rural road construction. Geosynthetic substances stabilize soil throughout the construction of roads and perform functions such as separation, drainage, and reinforcement. However, strict environmental safety and the high cost of geosynthetic substances make it crucial to opt for products that are eco-friendly and value-effective. Natural fibers, along with jute and coir, are excellent alternatives to geosynthetics as they are green, easy to have, and inexpensive.
Comprehensive Analysis of Geotextiles Market
The geotextiles market and chemicals & advanced industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the chemicals & advanced industry. These segmentations are methodically segregated by material, product, and by application. The material types include, synthetic and natural. However, the application is such as erosion control, road construction, pavement repair, railroad, agriculture, drainage, and others.
The Asia Pacific region is conducive to the global geotextiles market, leading to a recall of USD 1.18 billion owing to growing construction industry. Moreover, rapid urbanization, the availability of a skilled workforce, and increasing government initiatives for infrastructure development and improvement will contribute to regional growth.
The top players in the market play a crucial role in the chemicals & advanced industry assuring industrial prospectus growth and setting market standards. These players include, Fibertex Nonwovens A/S (Denmark), Global Synthetics (Australia), TYPAR Geosynthetics (U.S.), Maccaferri (Italy), TENAX (Italy), AGRU AMERICA, INC (U.S.), TenCate Geosynthetics Asia Sdn Bhd. (Malaysia), HUESKER Synthetic GmbH (Germany), Thrace Group (Greece), NAUE GMBH & CO. KG (Germany), Gayatri Polymers & Geo – Synthetics (India), Suntech Geotextile Pvt. Ltd. (India), Belton Industries (U.S.), GSE Environmental (U.S.), Terram Geosynthetics Pvt. Ltd. (India), and SKAPS Industries (U.S.) these market players provide a level-playing competitive landscape.
In June 2021, Core & Main LP, a distributor of wastewater, water, hearth protection merchandise, and typhoon drainage, entered into a definitive agreement to acquire substantially all the assets of L&M Bag & Supply Co., Inc. L&M specializes in geotextiles and geosynthetics products and has a well-advanced erosion management substance production operation. This acquisition will create possibilities and enhance core and main LP erosion management expertise globally.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 6.8% during 2024-2032
Unit Value (USD Billion) and Volume (Million Square Meters)
Segmentation By Material
Synthetic
Polypropylene
Polyester
Polyethylene
Others
Natural
Jute
Coir
By Product
Non-Woven
Woven
Knitted
By Application
Road Construction
Erosion Control
Pavement Repair
Drainage
Railroad
Agriculture
Others
By Region
North America (By Material, By Product, By Application, By Country)
U.S. (By Application)
Canada (By Application)
Mexico (By Application)
Europe (By Material, By Product, By Application, By Country)
Germany (By Application)
U.K. (By Application)
France (By Application)
Italy (By Application)
Spain (By Application)
Rest of Europe (By Application)
Asia Pacific (By Material, By Product, By Application, By Country)
China (By Application)
Japan (By Application)
India (By Application)
South Korea (By Application)
Rest of Asia Pacific (By Application)
Latin America (By Material, By Product, By Application, By Country)
Brazil (By Application)
Argentina (By Application)
Rest of Latin America (By Application)
Middle East & Africa (By Material, By Product, By Application, By Country)
Saudi Arabia (By Application)
South Africa (By Application)
Rest of the Middle East & Africa (By Application)
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