Geotextile Market expects volume consumption to exceed 10 billion sq. meters by 2024.

The well-established Geotextile Market continues to grow steadily due to the surging construction and agricultural sectors worldwide. The cost benefits of using geotextiles over conventional construction raw materials such as stone and sand have become increasingly attractive over the years, which has significantly prompted geotextile industry growth.

Basically, geotextiles are geosynthetic materials that have become quite popular in many applications that require stabilization, control, and support. Global Market Insights, Inc., anticipates that geotextile market will continue to expand over the coming years with the ever-growing civil engineering sector. By 2024, the industry is likely to witness the overall consumption of geotextiles crossing 10 billion square meters with a revenue projection of over USD 12 billion.

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It is important to note that geotextiles are not made up from materials used for manufacturing fabrics such as silk, wool and cotton. Basically, these textiles are synthetic fibers that can be made into porous, flexible, nonwoven fabric. Thus, the prospering geotextile market owes its success to its wide scope of applications such as agriculture, erosion control, pavement repair, road construction, drainage, and railroads.

The erosion control application, in particular, has witnessed significant gains as geotextiles help in preventing erosion caused by floods, rainfall, and water encroachment. Geotextiles strengthen dredged soils and help in holding it firmly under the vegetative growth, slopes, and coastal erosion. In consequence, geotextile market from erosion control application will garner substantial profits and will record a CAGR of 10.5% over the period of 2017-2024.
Speaking along the same lines, India has been forecast to be one of most profitable business grounds for geotextile market as regards to erosion control applications. In fact, it has been projected that India geotextile industry from erosion control will grow at an annual rate of 12.5% over 2017-2024.
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Geotextile market in the emerging economies of Asia Pacific will experience profitable growth, with a slew of construction projects. China is set to record a massive demand for geotextiles, as the country countersigns heavy infrastructure investment, mainly in transportation and water management.

The utilization of geotextiles in road construction applications is also advancing at rapid pace and is projected to raise USD 4.5 billion by 2024.
Meanwhile, Europe is another prominent region where geotextile market demand is quite high and is expected to grow at a CAGR of 9% over 2017-2024. Rising construction projects to develop ports, roads, airports, housing, and railways particularly in UK, France, Italy, and Germany signify high product demand in the region.

The regional companies are focusing on strategic partnerships to increase their capacity and expand their global reach. For instance, the collaboration between Fibertex Nonwovens and France’s Tharreau Industries in 2012 has helped the former expand its core business in the region to become one of the many prominent European market leaders.

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Europe geotextile market size, led by Germany, UK, Italy and France should witness significant gains at over 9%. Increasing construction spending owing to roads, airports, housing, railways, and ports development should drive regional growth. Rail and road authorities have published various norms and standards for solid waste collection and waste water treatment.

China geotextile market size should witness an increase in demand owing to rise in government spending for various upcoming infrastructure projects. Increasing environmental standards along with rising consumer awareness should favor regional growth.

Brazil geotextiles market size should witness significant gains at over 11.5% by 2024. Implementation of Growth Acceleration Program (PAC) by Brazilian Government regarding new infrastructural development should drive regional industry growth. Approximately, 12,000 infrastructural projects are initiated which will enhance industry growth in filtration, soil reinforcement and drainage applications.

Global geotextile market share is fragmented. Some of the companies operating in the market include Royal TenCate, GSE, Fibertex, Hueskar, TENAX, and Typar which cater to domestic and regional market.

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