“The geotextile market is expected to grow at a CAGR of 10.2% from 2017 to 2022, in terms of value”
The geotextile market is expected to be valued at USD 5.76 billion in 2017 and is likely to reach USD 9.35 billion by 2022, at a CAGR of 10.2% from 2017 to 2022. Rising demand for geotextiles due to superior properties and cost savings, high demand in road construction, and growing infrastructure activities in the emerging economies are the key factors driving the growth of this market. Volatile raw material prices affecting the demand for synthetic geotextile acts as the key restraint to the growth of the geotextile market.
“Nonwoven geotextile is the largest segment of the geotextile market, by product type.”
The nonwoven geotextile segment accounted for the largest share of the geotextile market in 2016. This large share is mainly attributed to the material being cost-effective and the key functional properties which make it a preferred material especially for the construction industry.
“Synthetic geotextile is the largest material type segment of the geotextile market.”
Synthetic geotextile is the largest material type segment of the geotextile market. Within the synthetic geotextile segment, polypropylene is a preferred material especially for the applications in the construction industry since it is cheaper in comparison to other raw materials.
“Road construction and pavement repair is the largest application segment of the geotextile market.”
Road construction and pavement repair is the largest segment of the geotextile market, by application. Geotextiles have proven to be the optimum solution for ground stabilization problems, increasing pavement life, repair and rehabilitation of highways, cost control, and better lifespan of roads. Hence, there is a high demand for geotextile in this application segment.
“Asia Pacific is expected to lead the geotextile market during the forecast period.”
Asia Pacific is expected to lead the global geotextile market during the forecast period. The growth of the Asia Pacific geotextile market is mainly driven by the rising infrastructure activities, especially in ASEAN countries apart from India and China. The geotextile market in the Asia Pacific region is expected to grow at the highest CAGR from 2017 to 2022.
Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 25%, Tier 2 – 35% and Tier 3 – 40%
• By Designation: C Level – 25%, D Level – 25%, and Others – 50%
• By Region: Asia Pacific – 40%, Europe – 25%, North America – 22%, Middle East & Africa – 8%, and South America – 5%
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by varied market players, such as Koninklijke TenCate (Netherlands), Low & Bonar (UK), Fibertex Nonwovens (Denmark), Thrace Group (Greece), Huesker (Germany), Berry Global (US), DuPont (US), Strata Systems (US), Leggett & Platt (US), Officine Maccaferri (Italy), GSE Environmental (US), Kaytech (South Africa), Mattex (Saudi Arabia), NAUE (Germany), Propex Operating Company (US), Carthage Mills (US), and Asahi Kasei Advance Corporation (Japan), among others.
The report defines, segments, and projects the geotextile market based on product type, material type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It strategically profiles key players and comprehensively analyzes their market shares and core competencies as well as tracks and analyzes competitive developments such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities in the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of revenues of the geotextile market and its subsegments. This report will also help stakeholders better understand the competitor landscape, gain more insights to better position their businesses, and make suitable go-to-market strategies. The report will help stakeholders understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.