Geotextiles Market Size at a Projected CAGR Of 12.6 % By 2025
The global geotextiles market is forecast to propel in the forthcoming years due to expected growth in agriculture and construction industries.
[ClickPress, Tue Mar 19 2019] The global geotextiles market is forecast to propel in the forthcoming years due to expected growth in agriculture and construction industries. Geotextiles are imparted with permeability and flexibility which will has helped the global geotextiles market size to expand by USD 6.10 Million in 2018, which growing at a remarkable CAGR is anticipated to reach at USD 13.76 Million by the end of 2025. Apart from that, their inexpensiveness make them more preferable for different functions like filtration, reinforcement, separation, protection and drainage in civil engineering applications
On the geographical front, Germany has the largest global geotextiles market size in European region, which is followed by UK, Italy and France. Higher construction spending owing to airports, railways, ports and roads development drive the overall regional growth. Road and rail authorities have issued numerous standards and norms for waste water treatment and solid waste collection.
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In Asia-Pacific, China geotextile market size is expected to expand due to higher government spending for the future infrastructure projects. Two factors that will shape the regional growth includes rising consumer awareness and higher environmental standards.
Brazil geotextiles market size is anticipated to experience high gains in overall growth by 2024. Execution of Growth Acceleration Program (PAC) by Brazilian Government in regard to new infrastructural development is likely to drive regional growth. Near about 12,000 infrastructural projects are started which aids industry growth in drainage applications, filtration and soil reinforcement.
On the basis of product type, the segment which is expected to grow at fastest CAGR is nonwoven geotextile. They are highly preferred over other types of geotextiles as they can withstand harsh conditions and challenging construction loads. While on the basis of material type, the synthetic geotextile is projected to grow at fast pace over the forecast period 2017 to 2022. This segment has wide application in the construction industry, mainly for filtration and separation applications. Focusing on the applications of geotextiles, pavement repair and road construction are the fastest-growing application. With the help of geotextiles, the life and performance of the road can be enhanced. Thus, there is a huge demand for geotextile in this particular segment.
Most of the companies involved in the production of global geotextiles market focus on innovation of new product development and acquisitions with already established and local players to reinforce distribution network and market reach across the globe. Major players of global geotextiles industry includes GSE Holdings Inc., Fibertex Nonwovens A/S, CTM GEO Synthetics, Huesker Synthetic GmbH, The Dow Chemical Company, Kaytech Engineered Fabrics, Royal Ten Cate Corporate EMEA, Low & Bonar PLC., Tenax and Leggett & Platt Incorporated.
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