Geotextile Market Projected to Reach USD 12,030 Million by 2030 Owing to Rising Government Investments in Public Utility Infrastructures
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BEIJING, July 20, 2022 (GLOBE NEWSWIRE) — The Global Geotextile Market size accounted for USD 7,028 Million in 2021 and is expected to reach the value of USD 12,030 Million by 2030 growing at a CAGR of 6.3% during the forecast period from 2022 to 2030.
Geotextiles are relatively inexpensive and thus popular in construction applications such as reinforcement, filtration, protection, separation, and drainage, and the global geotextile industry is expected to grow during the forecast period. The global geotextile industry is poised to increase during the forecast period due to expected growth in the construction and agriculture sectors. During the forecast period, geotextiles’ versatility, flexibility, and permeability are expected to dominate the growth geotextiles market. Mechanical performance, durability, and cost-effectiveness are expected to drive growth in the global geotextile market over the forecast period. Furthermore, as a result of the government’s move to increase their global market share, geotextile industry players are constantly driving geotextile innovation, allowing the global geotextile to accelerate during the projected timeframe.
Geotextiles are made up of synthetic and natural textile materials that are commonly used in the construction of highways, works, and drains, among other engineering applications. These products, which are typically made of materials such as synthesized geotextile and organic geotextile, can provide soil structure as well as erosion prevention. These products are widely used in a wide range of applications, including coastal protection, agricultural sectors, and storm water.
Geotextiles have the ability to sort, reinforce, separate, drain, and safeguard when used in conjunction with soil. Geotextiles are permeable synthetic fabrics made primarily of polyester and polyethylene. There are three types of geotextiles: needle punched, woven, and warmth bonded. Highway construction, canals, reservoirs, embankments, and railroad tracks are just a few of the environmental and geotechnical development environments for geotextiles. Geotextiles are also frequently used during the spot of granular soil filtration.
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|Market Size 2021||USD 7,028 Million|
|Market Forecast 2030||USD 12,030 Million|
|CAGR During 2022 – 2030||6.3%|
|Analysis Period||2018 – 2030|
|Forecast Data||2022 – 2030|
|Segments Covered||By Material Type, By Product Type, By Application, And By Geography|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Koninklijke Ten Cate B.V., BASF SE, GSE Holdings, Inc., Officine Maccaferri S.p.A.,
NAUE GmbH & Co. KG, AGRU America, Fibertex Nonwovens A/S, Global Synthetics,
Low and Bonar PLC, HUESKER Group, Propex Operating Company, LLC, and TENAX Group.?
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
|Customization Scope||10 hrs of free customization and expert consultation|
Global Geotextile Market Growth Aspects
The main factor driving the market growth is the increasing number of development and construction activities across the world, particularly in developing countries. This, along with the growing use of environmentally friendly walls and roofs for soil erosion prevention and proper water drainage system management, is fueling the market growth. Geosynthetics are also extensively used in the transportation industry to stiffen and protect the around its ground in railroad tracks, road systems, and highways. Furthermore, due to their exceptional chemical resistance, geotextiles are being widely used in wastewater management systems, which are catalyzing future growth. Furthermore, the demand from a variety of industries for the safe handling and disposal of exceptionally dangerous waste has been continuously growing. Additionally, the implementation of favorable reimbursement policies and increased research and innovation operations in national infrastructures, which allow industries to maintain performance specifications while controlling environmental problems, is expected to propel the market even further.
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Rising Demand for Bio-based Geotextiles
A variety of bio-based material properties, such as agricultural production and industrial effluent, are used to create bio-based geotextiles. Maize-based PLA geotextiles, crop residues, sheep wool sedimentation mats, and coconut erosion mats are examples of bio-based geotextiles. Some of the most important advantages of bio-based geotextiles are resource development and the elimination or reduction of Greenhouse Gas emissions. Since these materials are extremely lightweight, application and transportation costs are reduced, which is increasing interest in the agricultural and construction industries.
Geotextile Market Regional Overview
North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are the regional classification of the global geotextile market. The Asia-Pacific region was the largest purchaser of geotextiles in 2021, and this growth is projected to continue throughout the projected timeline. The regional market is driven by the huge number of customers in India and China. Favorable government initiatives to improve public infrastructure, fast industrialization, and the availability of qualified labor will all contribute to increased industry growth. In order to stimulate regional growth, government initiatives are emphasizing the development of large cluster cities with high reliability and durability.
Furthermore, the market in North America is expected to grow significantly over the projected time frame. The drainage systems in the United States are highly advanced and comprehensive, and their widespread use has resulted in proper and consistent maintenance, which drives regional growth.
Geotextile Market Segmentation
The global geotextile market has been segmented by Acumen Research and Consulting based on material type, product type, and application. Based on the material type, the market is divided into synthetic, and natural. Based on the product type, the market separated into woven geotextile, nonwoven geotextile, and knitted geotextile. Based on application, the market is categorized into road construction, railway work, drainage, erosion, agriculture, and others.
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Geotextile Market Players
Some key players covered global in the geotextile industry are Koninklijke Ten Cate B.V., BASF SE, GSE Holdings, Inc., Officine Maccaferri S.p.A., NAUE GmbH & Co. KG, AGRU America, Fibertex Nonwovens A/S, Global Synthetics, Low and Bonar PLC, HUESKER Group, Propex Operating Company, LLC, and TENAX Group.
Browse More Research Topic on Chemical Industries:
The Global Silicone Market is expected to grow at a CAGR of around 6.9% from 2020 to 2027 and expected to reach the market value of around USD 32,141.7 Million by 2027.
The Global Antimicrobial Textiles Market size is anticipated to reach around USD 15,800 Million by 2027 and is anticipated to grow at a CAGR of around 6% in terms of revenue during the forecast period 2020 to 2027.
The Global Ceramic Market is anticipated to grow at a CAGR of around 9.1% during the forecast period 2020 to 2027 and to reach value of around USD 492.7 Billion by 2027.
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
Mr. Richard Johnson
Acumen Research and Consulting
E-mail: [email protected]
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