Global geotextiles Market is anticipated to reach USD 6.4 billion in 2018, growing at a CAGR of 10.3% by 2018
The global geotextile industry is fragmented with numerous players marking their presence across the value chain. Some of the key players operating in the market include Maccaferri, SE Holdings, Officine, Royal TenCate, and NAUE. Product development is one of the key strategies adopted by leading players in order to gain a competitive edge, states a new report by Transparency Market Research (TMR). Mergers and acquisitions with local as well as established global players aimed at strengthening their market reach and distribution network across the globe, is another key strategy implemented.
According to the report, the global geotextile market is anticipated to be worth US$6.4 bn by 2018. By volume, the global geotextile market will be 3,398.4 mn square meters by 2018. By product, the woven fabrics is expected to witness a rapid growth in the coming years. On the basis of geography, Europe geotextile market is projected to be worth US$1,647.7 mn by 2018.
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Rise in Infrastructural Development to Push Global Geotextiles Market towards Growth
“The global geotextiles market is growing significantly owing to the increase in the construction of infrastructure amenities, roadways, dams, and bridges,” says a TMR analyst. Construction activities are especially increasing in Brazil, Russia, India and China (BRIC) countries. Another factor augmenting the market’s growth is the favorable regulatory support on the use of geotextiles in construction activities. Additionally, the various functional advantages of geotextiles over other materials, are boosting their demand globally. Moreover, increasing investments in constructional activities, rapid urbanization, and increasing population are other factors encouraging the growth of the world geotextiles market.
Fluctuating Raw Material Price to Impact Geotextiles Market Negatively
Factors challenging the growth of the global geotextiles market include less awareness among consumers and inadequate supply of raw materials. The volatility in the price of raw materials such as polypropylene and polyester is also hampering the growth of the market. In addition to this, lack of specified set of physical and mechanical standards for geotextiles across nations will pose a challenge for the market.
Landscape Restoration Projects in Developed Countries to Act as Opportunity in Market
Infrastructural developments in various developing countries in Latin America including the implementation will fuel non-woven geotextiles demand, to be used in filtration solutions, soil reinforcement, and drainage. This will create new opportunities for growth of the market. The ongoing landscape restoration projects, which are being carried out in several developed nations such as the U.S., and Japan, are also expected to bode well for the geotextiles industry in the coming years. Geotextiles are also being used for wastewater impoundment in various counties, which will heighten their demand in the future.
This information is based on the findings of a report published by Transparency Market Research titled “Geotextiles Market by Product Type (Woven, Non-woven, Knitted) for Roadways, Erosion Control and Drainage – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 – 2018.”
The global geotextiles market is segmented as follows:
Geotextiles Market – Product Segment Analysis
Geotextiles Market –Application Analysis
Soil erosion prevention & control
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