Geotextile Market is expected to grow at a CAGR of 10.4% from 2016 to 2024
The
global geotextile market is expected to reach USD 8.18
billion by 2024, according to a new report by Grand View Research, Inc. Cost
effectiveness, longer life span as compared to other materials, and growing
environmental concerns is expected to have a positive impact on the industry
over the next seven years.
These
products are relatively inexpensive and when appropriately designed are used as
replacements for traditional granular treatment which aids in significant cost
saving in terms of fabric as well as labor. This is expected to boost industry
growth over the next eight years.
U.S. Geotextile Market volume, by application, 2013 - 2024 (Million Square Meters) |
Rising
government expenditure for infrastructure development, especially in Asia
Pacific including India and China, is projected to fuel product need over the
forecast period. Also, increasing the need for efficient drainage systems in
various regions particularly in North America and Europe will have a positive
impact on industry growth.
Geotextiles
have been gaining popularity over the last few years due to increasing
awareness regarding their benefits such as high durability, high tensile
strength, and biodegradability. Rising environmental concerns among consumers
are expected to fuel product demand over the forecast period.
Full Research Report On Global Geotextile Market
Analysis:
www.grandviewresearch.com/industry-analysis/geotextiles-industry
www.grandviewresearch.com/industry-analysis/geotextiles-industry
Further
key findings from the report suggest:
- Global Geotextile Market
size was 4,505.0 million square meters in 2015 and is projected to reach
10,897.3 million square meters by 2024, growing at a CAGR of 10.4% from
2016 to 2024
- Woven geotextile market
was estimated at over 1,200.0 million square meters in 2015. Limited
availability coupled with high product prices as compared to non-woven
textiles will hamper industry growth over the forecast period. In
addition, its heavier weight with limited ranges of fabric availability
may act as a market challenge. However, rising use in erosion prevention
in China is expected to fuel demand over the forecast period.
- Polypropylene is projected
to be the fastest-growing raw material for geotextile manufacturing in
terms of revenue at a CAGR of over 13.0% from 2015 to 2024. Rising product
use in road construction on account of its efficient filtration properties
and longer lifespan as opposed to polyester and polyethylene is expected
fuel need over the projected period.
- Drainage is anticipated to
be a potential market for geotextiles over the next eight years on account
of increasing government spending on infrastructure development which
includes drainage facilities in developed as well as developing nations.
Product market for drainage applications was estimated at over 700 million
square meters in 2015.
- North America was the second
largest market with demand over 1,000.0 million square meters in 2015.
Strict environmental regulations have influenced manufacturers to shift
from synthetic to natural raw materials such as jute and sisal. Europe
followed North America and accounted for over 21.00% of the global volume
in 2015.
- In February 2013, GSE
acquired SynTec LLC, a manufacturer of various geosynthetic products for
USD 10 million to broaden its product portfolio. In May 2013, GSE
initiated production of geosynthetics primarily geotextiles at its plant
in Suzhou, China with an annual capacity of about 20,000 tons.
View more
reports of this category by Grand View Research at:
www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
Grand View Research has segmented the global Geotextile Market on the
basis of product, material, application and region:
Geotextiles Product Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Non-woven
- Woven
- Others
Geotextiles Material Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Polypropylene
- Polyester
- Polyethylene
- Others
Geotextiles Application Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- Road
construction
- Erosion
control
- Drainage
- Others
Geotextiles Regional Outlook (Volume, Million Square Meters; Revenue, USD
Million, 2013 - 2024)
- North
America
- U.S.
- Europe
- Germany
- UK
- Asia
Pacific
- China
- India
- Latin
America
- Brazil
- MEA
- U.A.E
View press
release of this research report by Grand View Research:www.grandviewresearch.com/press-release/global-geotextiles-market
About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more
information: www.grandviewresearch.com
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