Mar 25, 2020
Cost-efficiency and End-use Versatility to Propel Geotextile Market to Stellar 11% Growth, Opines Fact.MR
by Team Fact.MR
Surging road construction in developing economies and proliferation of measures taken to prevent soil erosion is driving sales of geotextiles. Governments around the world are propagating the use of geotextiles to increase pavement life in a cost-efficient manner. The global geotextile market will grow three-fold during the forecast period (2019-2029). Advancements in material science to improve polyethylene, propylene, and polyether production will positively impact the geotextile manufacturing processes. Innovations in raw-materials such as bio-based geotextiles will further the adoption of geotextiles.
Key Takeaways of Geotextile Market Study
- Europe is poised to lead global sales with a majority share of over 1/4th of the total market value. The region will continue to offer lucrative growth opportunities with over 11% CAGR during the forecast period.
- Middle East & Africa will register the highest growth with a stupendous 13% CAGR through 2029. Investments in modern drainage, and road construction are driving demand from this region.
- Road construction accounts for the largest share of over 47% of the total market revenue. Properties of geotextiles such as enhanced pavement life coupled with easy repair & maintenance are acting as central factors for demand from this application segment.
- Drainage construction exhibits the most lucrative growth prospects with the highest growth rate of more than 12% between 2019 and 2029. The importance of efficient drainage systems in modern infrastructure development can be attributed to the spurt in demand from this application segment.
- Non-woven geotextiles maintain their hegemony among product types with over 60% market value share. Versatility of applications in construction, furniture, hygiene, and automobiles are driving the growth of this product type.
- Woven geotextiles exhibit the highest individual double-digit growth rate. Efficient filtration and high-tensile strength of woven geotextiles is propelling the demand for this product throughout the forecast period.
“Geotextiles market players may benefit by early adoption of industry 4.0 technologies to enhance product portfolio and market penetration in various regions.”-Says Fact.MR Analyst
Disruptive Innovation- Key Growth Strategy
Research and development of innovative products such as bio-based geotextiles will shape the competitive landscape. Major players are leveraging advanced raw materials to add merit to their product portfolio. Bio-based geotextiles are made from straw and coconut mats to reduce greenhouse gas emissions. Geotextile products enhance the strength of bridges, dams, banks, roads, and drainages. Partnerships with statutory bodies will resonate with government directives issued by countries such as the UK and Germany.
Find More Valuable Insights on Geotextile Market
Fact.MR, in its new offering, provides an in-depth analysis of the global geotextile market, displaying data on historical demand (2014-2018) and forecast data for the period, 2019-2029. The study provides readers with essential insights on the geotextile market on the basis of product (non-woven, woven, and others), material (polypropylene, polyester, polyethylene, and others), application (road construction, erosion prevention, drainage, and others), and across 6 key regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and Middle East & Africa).
>>> To Get more insights on geotextile market, visit- https://www.factmr.com/report/4655/geotextile-market
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the Chemicals & Materials team at Fact.MR helps clients from all over the globe with their unique business intelligence needs across the value chain. With an exhaustive database of over 1,000 reports and 1 million plus data points, the team has analyzed a number of chemicals and materials lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations. For more chemicals domain expertise, visit here.