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(Construction.IndustryNews247.Com, November 15, 2018 ) Geotextile Market Research and Analysis to 2026 - Major Top Vendors are Agru America, Inc., Berry Global, Carthage Mills, DuPont, Leggett & Platt, Strata Systems, Mattex, Kaytech, Koninklijke Ten Cate, Tenax and Propex Operating Company
The global geotextile market generated USD 6.55 billion in 2017 and is anticipated to grow at a CAGR of 8.8% during the forecast period.
Geotextiles are used for reinforcing the soil banks in the construction of bridges, roads, pavements, and highways among others. Their prime functions include separation, sealing, filtration, drainage, and reinforcement among others. Owing to their multifunctional characteristics they are suitable for a variety of industries and find applications in agriculture, construction, transportation, and maintenance industries among others.
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The demand for non-woven fabrics has augmented over the years owing to rising number of construction sites, and increasing infrastructural developments worldwide. Governments of several nations are taking preventive measures during construction of roadways owing to increasing awareness regarding submerging of roads in case of natural disasters and to ensure enhanced durability and quality.
The use of polypropylene geo-synthetics requires less maintenance cost and result in longer life of roads. The regions which are prone to landslides, high seismic activities and weak soil are benefited substantially with the use of these fabrics, thereby providing an apt solution for such conditions. The Ministry of Textiles under the Government of India approved a scheme for promoting the use of geotextiles in road construction in the North Eastern Region of the nation. Hence, driving the growth of geotextile market.
The roadways segment is expected to grow at the highest CAGR in the geotextile market during the forecast period owing to increased issues pertaining to a lifespan of roads, and growing stabilization and maintenance problems. The uses of these fabrics are cost-effective solutions towards pavement repairs, and rehabilitation of highways, especially in the emerging economies of Asia-Pacific, where cost is one of the major concerns. The demand for geo-synthetic products in China, India, and Japan, has increased significantly over the years, further supporting market growth during the forecast period.
The report provides an extensive qualitative and quantitative analysis of the market trends and growth prospects of the Global Geotextile Market, 2017-2026. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and South America, and MEA. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, UK, Italy, France, and Rest of Europe. Asia-Pacific is bifurcated into China, India, Japan, and Rest of Asia-Pacific.
The European geotextile market is anticipated to witness significant growth over the forecast period. The growth can be attributed to the rising expenditure in the construction of roads, airport runways, railways, and pavements in nations such as UK, Italy, France, and Germany. The rail and road authorities in these countries have published numerous regulations regarding the wastewater treatments and drainage plants. All the above-mentioned factors are expected to fuel the market growth.
Competitive Landscape and Key Vendors
The global geotextile market is fragmented with the presence of a large number of international vendors. These companies consistently launch new products to boost their offerings in the market. Moreover, the companies focus primarily on innovating and investing in research and development to cater the growing needs across the world. Leading companies are also focusing on expanding their businesses through inorganic growth which increases their market potential in terms of geographic expansion and expansion of customer base.
The leading companies profiled in the report include Agru America, Inc., Berry Global, Carthage Mills, DuPont, Leggett & Platt, Strata Systems, Mattex, Kaytech, Koninklijke Ten Cate, Tenax and Propex Operating Company.
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