South Korea LNG Market Assessment, By Infrastructure [LNG Liquefaction Plants, LNG Regasification Facilities, LNG Shipping], By End-use [Power Generation, Industrial, Residential and Commercial, Others], By Region, Opportunities and Forecast, 2017-2031F

South Korea LNG Market Assessment, By Infrastructure [LNG Liquefaction Plants, LNG Regasification Facilities, LNG Shipping], By End-use [Power Generation, Industrial, Residential and Commercial, Others], By Region, Opportunities and Forecast, 2017-2031F

Global construction textile market is projected to witness a CAGR of 9.32% during the forecast period 2024-2031, growing from USD 2.74 billion in 2023 to USD 5.59 billion in 2031. The market is experiencing growth due to Innovations in textile technologies and expanding applications in various construction projects such as roadways, bridges, and building facades, apart from the increasing number of ongoing commercial projects. The integration of construction textiles with smart technologies and their role in enhancing structural performance is also expected to further fuel market expansion across the globe.

The construction textile market is mainly driven by advanced construction materials, fabrics, and durable and sustainable materials in the construction industry. On a global level, there is a notable rise in the construction industry, including the construction of residential and non-residential projects and renovation activity, which is associated with the construction textile market and helps the booming construction textile market over the globe.

Construction textiles are evolving to meet the challenges of extreme weather and environmental conditions in different regions, including various challenges in construction and weather conditions. Innovations such as UV-resistant and waterproof textiles improve the durability and longevity of construction materials, making them ideal for use in harsh climates over the globe. This growth factor is particularly relevant in areas prone to flooding, heavy rainfall, or high temperatures and, day by day, increasing various applications of the construction textile market.

For instance, TechFab India Industries Limited, a construction textile company, has been active in the geosystems construction textile sector. TechFab India Industries Limited specializes in manufacturing geosynthetic textiles used in civil engineering applications such as roads, railways, and retaining walls. Apart from that, the Indian government supports infrastructure projects through initiatives like the National Highways Authority of India (NHAI), which mandates the use of geosynthetic materials, including construction textiles, in road construction.

Advancements in Geosynthetics and Smart Textiles Drive the Construction Industry

Technological advancements in the last couple of years have transformed the application of geosynthetics in the construction industry. The geotextiles developed from advanced polypropylene and polyester fibers are high-performance, featuring great tensile strength and durability, and resist environmental elements very well. This includes those fundamental applications in road construction, bridge construction activity, repairing activities, and the stabilization of soils, which are under continuous development and have very good performance in improving soil stability in the future.

On the other hand, Smart Textile is changing how things are fabricated because they have the capability to interface with the environment and offer added functionality. One of the key recent advances within this field is that it develops embedded sensor technologies within textiles. Sensors that can monitor real-time structural health and performance, substantial added value both in terms of maintenance and safety.

For instance, Propex Operating Company LLC has developed high-performance construction textiles for concrete product applications in various applications such as roads, walls, and floors. Their products include Novocon FE1050, which enhances crack control and durability in concrete structures.

Increasing Infrastructure Development in Emerging Economies

Developing economies are driving this demand to minimize costs and enhance their performance, which can transcend the problems related to huge infrastructural projects, both residential and non-residential, across the globe. The market for construction textiles will continue to provide its solutions, which will be essential in creating resilient and sustainable urban environments with more investment in infrastructure and future development initiatives.

Enormous public works investments support huge infrastructure development across emerging world economies, such as urbanization and economic growth. This rapid infrastructural development is a strong driver for the construction textile market. Infrastructure development is necessary for many growing countries like India, China, Saudi Arabia, etc., where the population is seen to be increasing daily along with economic growth and boosting the overall market of construction textiles.

For instance, India has initiated ambitious projects such as the Smart Cities Mission (SCM), where the Indian government is expected to develop 100 smart cities with high infrastructure in terms of roadways, bridges, and urban transportation. This kind of government project requires modern construction materials, which must comprise high-performance textiles to ensure the projects are durable and efficient. In SCM projects, the Indian government decided to invest huge amounts of money in three distribution funds: area development, urban mobility, and water supply or wastewater.

Growing Demand for Polyester-Based Construction Textiles

Polyester-based construction textiles have favorable properties, which create a high demand for them in the construction industry. This is attributed to the fact that polyester has become one of the most versatile and durable materials, and its applications are found in multiple construction areas. Indeed, its performance, coupled with cost-effectiveness, creates an impulse for the higher utilization of polyester in different construction activities.

Durability and strength make polyester textiles an absolutely demanded material in different areas of the building. With these features, polyester fibers are resistant to abrasion, weathering, and chemicals, the exposure to which prolongs the service life of construction materials. Polyester is cheaper than other high-performance materials, which is why polyester can be used more widely in construction on a large scale and heavy use in commercial projects. The economy of polyester textiles allows a wider application, starting with temporary construction barriers and moving up to permanent structural reinforcements. Polyester textiles provided a cost-effective solution for the expansive roof covering required in the terminal's design. The relatively lower cost of polyester compared to other high-performance materials made it an attractive choice for the project's budget and allowed for significant savings while still meeting performance requirements in any kind of construction project across the globe.

For instance, in February 2023, Acme Mills Company and Textile Industries, Inc. introduced its advanced Ecotex fabric. It is the material to use for environmentally responsible infrastructure and large-scale building projects.

Rapid Urbanization in Asia-Pacific

The rapidly modernizing Asia-Pacific is seen as one of the most significant urbanization shifts in the world, with a high rate or percentage, which has been pushing hard in the construction sector and its related industries, including the construction textile market. While rapid urbanization has brought an unparalleled rise in population density to the metro cities, it has also seen huge infrastructure projects and new urban developments, especially in cities such as Mumbai, Delhi, Pune, Beijing, and Guangzhou.

Emerging economies of China and India are leading the frontiers. The urbanization boom in the Asia-Pacific is also about retrofitting the existing infrastructure to meet the demand caused by a growing population. Renovation of the older structure involves advanced textiles to strengthen the facility and increase the lifespans of commercial and non-commercial buildings. The integration of smart textiles in urban projects contributes to creating smart infrastructure solutions for the development of city management and enhances operational efficiency.

For instance, in August 2024, the Indian government planned to invest USD 3.41 billion under the National Industrial Corridor Development Programme (NICDP), which boosted all types of construction material market, including construction textiles.

Future Market Scenario (2024-2031F)

Key regions, including Asia-Pacific and North America are expected to grow and continue to be major contributors to market expansion, with emerging economies in Asia-Pacific leading in growth due to rapid urbanization and large-scale infrastructure initiatives.

The range of applications for construction textiles will expand in the future, including use in geosynthetics for soil stabilization, erosion control, and road construction, as well as in building facades, temporary structures, and protective covers.

Increased investment in infrastructure development, particularly in emerging economies, will fuel demand for construction textiles. Large-scale projects include smart cities, transportation networks, and flood control systems.

Online sales channels for construction textiles will expand accessibility and easy availability. Small and medium-sized contractors will benefit from streamlined purchasing options in the future.

Key Players Landscape and Outlook

The construction textile market features a diverse range of key players, including established multinational corporations and innovative startups. These companies are involved in developing, producing, and distributing various construction textiles, such as geosynthetics, smart textiles, and high-performance fabrics. Companies all over the globe are expected to employ various strategies to maintain a competitive edge, including strategic partnerships, mergers and acquisitions, and investments in research and development. Collaboration with construction firms and technology providers will be crucial for developing innovative solutions and accessing new market segments. Companies are forming strategic partnerships with construction firms, technology providers, and research institutions to leverage complementary strengths and develop innovative solutions. Collaborations facilitate the integration of advanced textile technologies into construction practices and open new market opportunities.

In August 2023, Saint-Gobain S.A., a key construction fabrics manufacturer, announced plans to invest in a new production facility in China to cater to the growing Asian market.