Press release
Geotextiles Market Size Forecast to Reach $12 Billion by 2024 | Top Key Players - Belton Industries, Inc., Royal Ten Cate, GSE, Fibertex
Geotextiles Market
Geotextile market is essentially gaining traction across Europe. Rail and road authorities have published several standards & norms for solid waste and wastewater management, supporting the product demand in the region. With increasing demand from the UK, Germany, and France, the Europe textile market may witness gains at a rate of 9% over forecast period.
Meanwhile, the U.S. geotextile market from the woven product segment is expected to grow at a rate of 10.5% by the year 2024. Surging application in the road construction sector for separating layers and ensuring stability of road & underground pavement may accelerate industry share.
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While, a study conducted by Global Market Insights, Inc., speculates that the geotextile market may surpass USD 12 billion by the year 2024.
Notably, Royal TenCate, GSE, Fibertex, Hueskar, Tenex and Typar are some of the firms currently at the forefront of the geotextile market. These companies are leveraging several organic and inorganic strategies such as acquisitions, mergers, joint ventures, and technical collaborations to strengthen their regional presence and enhance product portfolio.
Widespread application scope in the construction sector is anticipated to favor global geotextile market expansion over the coming years. Geotextile are extensively used across infrastructure applications like roads, drainage structures, landfills and other projects.
Key Point of TOC:
Chapter 8 Company Profiles
8.1 TENAX
8.1.1 Business Overview
8.1.2 Financial Data
8.1.3 Product Landscape
8.1.4 SWOT Analysis
8.2 Agru America Inc.
8.2.1 Business Overview
8.2.2 Financial Data
8.2.3 Product Landscape
8.2.4 SWOT Analysis
8.2.5 Strategic Outlook
8.3 Global Synthetics Pty Ltd.
8.3.1 Business Overview
8.3.2 Financial Data
8.3.3 Product Landscape
Continue...
Developing nations like India, Malaysia, Indonesia, and China are spending heavily on infrastructure developments, offering considerable growth prospects to geotextile companies. For instance, in China, geotextile materials are extensively used for railroad based applications. Reports suggest that the China geotextile market may record gains at rate of more than 11% from the railroad application segment in the forthcoming years.
Elaborating on major trends accelerating geotextiles market share
Increasing demand across road applications
Geotextiles have become one of the most deployed road construction materials in recent years. Specifically, polypropylene geotextiles are extensively used in road construction owing to its easy availability and longer shelf life.
Its high strength properties are suitable for slope support, stabilization, and erosion control. With growing traction, polypropylene geotextiles market is expected to surpass USD 6.5 billion by the year 2024.
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An overview of key revenue-generating segments
Non-woven product segment
The nonwoven product segment is expected to grow at a rate of over 11% over 2024. The product find extensive application in separation, filtration, drainage, and road construction due to its enhanced chemical reaction and UV based finish properties.
Jute material segment
Jute-based geotextiles have emerged as superior alternatives to its synthetic counterparts in civil applications. These products are extensively used in soil erosion applications across bridge abutments, riverbanks, culvert, road slopes, and residential spaces. Studies meanwhile suggest that the demand for jute geotextiles may grow by 9.5% over the year 2024.
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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