Woven Geotextile Market to witness maximum gains over 2017-2024

Woven geotextile market, on the other hand, is foreseen to witness the highest CAGR of 11.55 over 2017-2024. This commendable growth can be credited to its high tensile strength and hydro filtration properties, which find usage in road construction and erosion control.

Non-woven products possess excellent UV finish properties coupled with high chemical resistance and light weight, on account of which nonwoven geotextile industry is anticipated to exceed a valuation of USD 8.5 billion by 2024, in terms of sales. The massive growth of PP (Polypropylene) nonwoven fabrics market will further contribute toward the expansion of this segment.

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The escalating construction sector across the globe will be one of the key drivers of Geotextile Market, pertaining to the fact that geotextiles are for reinforcing vertical soil banks to construct foundations for permanent and temporary roads, bridges, and highways. In addition, they are used for natural soil filtration by means of ground drain lines, and for the prevention of soil erosion on river banks.

Regional government bodies have been extending their support to conserve resources, prevent erosion, protect the environment, and reduce GHG emissions. Pertaining to excellent product characteristics such as improved abrasion resistance, better elongation, and soil retention, geotextiles are used in the enhancement of railway tracks. Increasing investments on transportation will lead to a rise in the number of transport facilities and a subsequent surge in employment.

The government of China has been undertaking special efforts to reduce GHG emissions, and in response has been favoring green construction projects on a large scale. The construction sector in China was worth more than USD 740 billion in 2016, with new commercial ventures covering 55% of the total demand.

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Rapid industrialization, urbanization, increasing construction spending, and changing consumer lifestyles will contribute toward the growth of China geotextile industry. The government also has plans to invest billions in railway construction & renovation projects. With increased funding for infrastructure development, China geotextile market from railroad applications will surpass USD 95 million by 2024.

Increased expenditure in construction and infrastructural development in China and other countries such as Russia, India, and U.S. will also spur overall geotextile industry from road constructions, slated to cross USD 4.5 billion by 2024. It is noteworthy to mention that government support toward the increasing application of jute materials will augment the overall geotextile market.

Infrastructural development has been rampant even across the continent of Europe. The regional governments and the EU have been encouraging the development and maintenance of roads, railways, bridges, and highways, in addition to promoting waste water treatment and solid waste collection. Subject to the aforementioned factors, Europe geotextile industry will foresee a CAGR of 9% over 2017-2024. UK, France, Germany, and Italy are slated to be the key regional contributors.

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Massive construction spending and government rules and norms pertaining to waste water treatment should drive geotextile market size from drainage applications, anticipated to observe a CAGR of more than 10%. Geotextiles are heavily used in civil reinforcements to filter out fine particles, which will fuel the segment growth over the coming years.

Global geotextile industry is quite fragmented, and involves the participation of companies such as TENAX, Royal TenCate, Hueskar, GSE, Typar, and Fibertex. Keeping in line with the growing trends, these companies, and the new entrants that have been demanding a fair share of the revenue, have been concentrating on increasing their existing production capacities and shifting toward better raw material for manufacturing highly durable and long-lasting products. For instance, jute based products have recently emerged as a viable alternative to synthetic ones. On these grounds, it has been forecast that jute-based geotextile market will cross USD 200 million by 2024.

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