Geotextile Market Size Market Share & Forecast, 2019– 2024

According to a new research report by Global Market Insights, Inc. Geotextiles Market size is set to surpass USD 10.7 billion by 2024. Rapid industrialization along with increasing government spending for infrastructure projects should drive Geotextile Market size. Rising environmental concerns owing to cost effectiveness and longer shelf life along with biodegradable material consumption may have a positive impact in the industry growth.

Strict government regulations with respect to MSW and standards by American Association of State Highway and Transportation Officials (AASHTO) for its usage in pavement, erosion control, drainage, and separation, which reduces road construction time.

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Geotextile Market size from road construction may witness significant gains and surpass 3.5 billion sq. mtrs by 2024. It helps in building better roads by preserving and increasing road structural integrity and improves longevity and capacity. They are relatively homogenous, readily available and less work to install, thereby reducing environmental impact with transporting and quarrying materials for the usage in road construction.

Polypropylene, polyethylene, and polyester are raw materials used in synthetic polymer based production process. Rising raw material concerns may hinder supply deficit and impact Geotextile Market price trend.

U.S. woven Geotextile Market size may exceed USD 650 million by 2024. They are usually constructed by weaving and blending fibers. Increasing application scope in road construction to separate layers and stabilize ground under pavement and road will drive regional product demand.

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Coir based Geotextile Market may witness significant gains over the foreseeable period. It is a natural fiber produced from coconut husks. It provides protection against soil erosion and provide natural support for vegetation. Increasing product usage due to several properties including durable, biodegradable, resist sunlight, absorb water, and facilitate seed germination should fuel industry growth.

China geotextile demand from railroad applications is poised to exceed USD 95 million by 2024. Increasing government spending on infrastructure projects should drive regional product demand. Selection of product for railroad applications depend on factors including existing track structure, drainage conditions, previous maintenance requirements, traffic, and subgrade conditions.

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Global Geotextile Market share is moderately fragmented with key companies including GSE, Royal TenCate, TENAX, Typar, Fibertex, and Hueskar. The industry may witness consolidation over the foreseeable period in the form of merger & acquisitions and joint ventures to increase their product portfolio & regional growth.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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