May 24, 2024
Geotextile Market

Geotextile Market is Expected to be Flourished by Rapid Infrastructure Development

Geotextiles are permeable fabrics which, when used in association with soil, have the ability to separate, filter, reinforce, protect, or drain. They are made from synthetic polymers like polypropylene, polyester, polyethylene, nylon and polyamides. Geotextiles are used in various civil engineering applications including road construction, embankments, retaining walls and reservoir liners. They provide stability to soil and assist in drainage by allowing water to pass through but preventing fine particles from getting washed away. Some common applications of geotextiles include separation, reinforcement, soil stabilization, erosion control and drainage.

The global geotextile market is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rapid infrastructure development is expected to drive the demand for geotextiles over the forecast period. Growing urbanization coupled with increasing spending on road and railway networks by governments across the globe will boost the adoption of geotextiles. They facilitate stability and durability in infrastructure development projects involving civil construction works. Furthermore, growing awareness regarding benefits of geotextiles such as controlled erosion, separation, reinforcement and filtration is fueling their usage in areas such as dams, canals, reservoirs and landfill lining. Sustainable properties and green credentials of geotextiles are increasing their popularity as compared to conventional materials. Geotextiles made from recycled polymers reduce environmental footprint of infrastructure projects. Significant expansion of transportation networks in developing nations provide lucrative opportunities for geotextile manufacturers and suppliers.

Segment Analysis

The geotextile market can be segmented based on material, by product type, application and region. Based on material, the market is divided into Polypropylene, Polyester and Other materials. The polypropylene segment accounts for the largest share and is expected to continue its dominance over the forecast period due to its resistance to chemicals, durability and cost effectiveness.

Based on product type, the market is categorized into Nonwoven, Woven and Knitted. The nonwoven geotextiles segment holds the major share due to its properties such as good drainage, separation and filtration.

On the basis of application, the geotextile market is bifurcated into Road construction, Erosion prevention, Drainage, Railway works and Agriculture. Road construction remains the key application area owing to increasing road construction activities globally.

PEST Analysis

Political: Growing investments in infrastructure development especially in developing nations is positively impacting the market. Stringent environmental regulations regarding erosion control is also favoring market growth.

Economic: Rising disposable incomes, rapid urbanization and industrialization is driving the construction sector which in turn boosts geotextile demand.

Social: Increasing awareness regarding benefits of geotextiles such as soil stabilization is augmenting their use across various end use industries.

Technological: Advancements in material properties to withstand harsh conditions along with development of innovative applications is expected to create new opportunities for key players.

Key Takeaways

The Global Geotextile Market Growth is expected to witness high owing to massive investments in infrastructure projects globally. The global geotextile market is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.

Regionally, Asia Pacific accounts for the largest as well as the fastest growing regional market led by countries like China and India. Growing constructions activities accompanied with government support for development of transportation and road networks in these countries is fueling demand. Asia Pacific region holds around 45% share of the global geotextile market and is projected to maintain its lead over 2023-2030 period. This growth can be attributed to large population base and rising industrial and construction activities particularly in China, India and other Association of Southeast Asian Nations (ASEAN) countries.

Key players:

Key players operating in the geotextile market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Sanofi and Johnson & Johnson Services Inc capture around 25% of global market share due to their strong geographical footprint and wide product portfolio.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it