Pune, India, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The global geotextiles market size was USD 7.70 billion in 2020. The market is projected to grow from USD 8.04 billion in 2021 to USD 12.09 billion in 2028 at a CAGR of 6.0% during the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “Geotextiles Market, 2021-2028.”
According to our analysts, the rising demand for the geotextiles sector can be attributed to high-performance and serviceable textile in road construction, corrosion control, as well as agriculture usage, coupled with increasing expansion in the construction industry, is a prime aspect fuelling the market growth.
COVID-19 Compelled Industries to Cancel Orders Thus Affecting Coir Industry
The commotion in the supply chain cycle owing to the lockdown imposed by the government organizations has resulted in the termination of numerous orders perceived by the coir manufacturers globally. For example, various coir products have piled up at industrial units owing to a decline in export and import activities during the novel coronavirus. This is influencing the growth of the market in the shorter run. Nevertheless, helpful government policies to sustain SMEs are anticipated to work in favor of the continuation of trade activities while taking the essential safety measures.
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List of Companies Profiled in this Market Report
- Maccaferri (Bologna, Italy)
- TENAX (Lecco, Italy)
- TenCate Geosynthetics Asia Sdn Bhd. (Selangor Darul Ehsan, Malaysia)
- GSE Environmental (Texas, the U.S.)
- Terram Geosynthetics Pvt. Ltd. (Gujarat, India)
- HUESKER Synthetic GmbH (Gescher, Germany)
- Global Synthetics (New South Wales, Australia)
- TYPAR Geosynthetics (Tennessee, the U.S.)
- Fibertex Nonwovens A/S (Aalborg, Denmark)
- Belton Industries (South Carolina, the U.S.)
- Thrace Group (Alimos, Greece)
- NAUE GMBH & CO. KG (Espelkamp, Germany)
- AGRU AMERICA, INC (South Carolina, the U.S.)
- Gayatri Polymers & Geo – Synthetics (Vadodara, India)
- Suntech Geotextile Pvt. Ltd. (Chhattisgarh State, India)
- SKAPS Industries (Georgia, the U.S.)
Market Segmentation
Based on product, the market is classified into woven, non-woven, and knitted. Based on product, the woven segment held a market share of about 32.39% in 2020 and is expected to experience significant growth backed by the growing demand for woven product due to its high tensile strength. Non-woven segment is anticipated to dominate the market during the forecast period.
On the basis of material, the market is divided into natural and synthetic.
In terms of application, the market is segregated into road construction, erosion control, pavement repair, drainage, railroad, agriculture, and others.
Geographically, the global market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Report Coverage
The report offers a detailed study of the geotextiles space and a keen examination of the major segments of the market. It provides an in-depth analysis of key players and their insightful strategies to spur the market growth for monetary gains. It also shares tangible insights which guide business owners with their investment perspective. The regional dynamics and how they shape the market in an upward curve are presented in the following report. Moreover, COVID-19 impacts have been added for additional information and how it is expected to affect the demand for geotextiles in the near future.
Driving Factors & Restraints
Rising Investment in Construction Ventures to Fuel Market Growth
The growing infrastructure expenditure on various construction projects is likely to boost the demand for these textiles. Typically, state, local, and federal governments are the major contributors of highway construction funding. Additionally, the rising amount of public-private partnerships (P3s), as they accept money and the government’s authorization to build roads and highways, is probable to boost the geotextiles market growth.
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Regional Insights
Asia Pacific to Hold Largest Market Share due to Improving Construction Sector
Asia Pacific stood at USD 2.54 billion in 2020 and is anticipated to dominate the global market during the upcoming years. This is attributed to the increasing construction industry and the ongoing infrastructure projects in India and China.
The growing environmental and health worries have augmented the demand for green infrastructure solutions owing to their lower cost, durability, and environmental friendly characteristics in major European nations.
The North America geotextiles market share is probable to confront substantial growth during the forecast period. The drainage systems in the U.S. are extremely advanced and widespread, and high utilization of drainage systems has led to regular as well as suitable upkeep.
Competitive Landscape
Inventive Product Launches by Crucial Players to Thrust Market Growth
The prominent players accept and implement numerous tactics to bolster their position in the market as leading companies. One such vital approach is procuring companies to bolster the brand value among users. Another indispensable strategy is intermittently launching innovative products with methodical study of the market and its target audience.
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Major Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends
- Key Developments – Mergers, Acquisition, New Product Launches, Collaboration, Partnership, and Joint Venture
- Latest Technological Advancements
- SWOT Analysis
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Comparison Chart Analysis
- Qualitative Insights – Impact of COVID-19 on Global Geotextiles Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
TOC Continued…!
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Key Industry Development
June 2021: Core & Main LP, who is a supplier of wastewater, water, fire protection products, and storm drainage engaged into a decisive contract to obtain significantly all of the possessions of L & M Bag & Supply Co., Inc.
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Spunbond Nonwoven Market Size, Share & COVID-19 Impact Analysis, By Function (Disposable and Durable), By Material (Polypropylene, Polyethylene, Polyester, and Others), By Application (Personal Care & Hygiene, Geotextiles, Medical, and Others), and Regional Forecast, 2021-2028
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