Geotextile Market Share, Size, Trends and Analysis to 2024

2^nd December 2019 – The global geotextile market is expected to reach USD 8.18 billion by 2024. Geotextiles are used for civil applications and agriculture having synthetic polymers as raw material. These polymers can be polyamide, polyethylene and polypropylene or even polyester. The functionality of geotextiles enables ease of separation, drainage, reinforcements, separation and filtration.

Geotextile market is driven by rise in population, construction projects, increasing popularity, rise in urbanization and rise in disposable income of consumers, positively impact as primary drivers. In addition, biodegradable soil erosion applications account for durability. Other factors accountable for the market development comprise rising employment in production sector and wide deployment of chip-based applications in electronics segment. Apart, increase in civil engineering applications is another reason accounting for a higher market share.

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End-use application segment for geotextile market includes road construction, drainage and erosion control. Segmentation based on market type for geotextile market includes knitted, woven and non-woven products. The material segmentation for geotextile market comprises polypropylene, polyethylene and polyester.

Geographical segmentation for geotextile market include North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions account for a significant market share resulting in a larger market. In addition, rise in government spending for infrastructure development in developing countries is likely to propel the APAC market growth. Rise in construction projects catalyses the market developments in APAC sector.

South American market is likely to gain a significant CAGR in the forecast period as the industry is attracting major investments in order to fuel the market growth. Leading projects pertaining to infrastructure is expected to stimulate non-woven geotextile demand in the Brazilian market. The key players in the geotextile market include Geosynthetic Lining Systems (GSE) Environmental, NAUE GmbH & Co KG, Ten Cate, Fiberweb PLC and Global Synthetics.

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