Geotextile Market Set to Witness an Uptick during 2020 to 2027Posted by Mrudula Anil Karmarkar on May 27th, 2021 The global geotextiles market size is expected to reach USD 11.3 billion by 2027, according to a new report by Grand View Research, Inc., registering a CAGR of 11.9% over the forecast period. Increasing adoption of geotextiles in road construction and infrastructure development activities is expected to drive the market growth over the forecast period. The shortage in supply of raw materials from Chinese manufacturers has resulted in a severe demand-supply gap. The manufacturers are further expected to be stranded on raw material orders owing to the logistics industry being significantly impacted due to lockdown amid COVID-19. However, the producers are expected to move away from China aiming to reduce the future risks that would affect the business and to reduce the manufacturers' cluster in a single country in order to smoothen the supply chain. The report will account for Covid19 as a key market contributor. Innovations by manufacturers are backed by government and regulatory bodies to improve product properties, which, in turn, would contribute to the market growth. Governments across various countries are actively participating in geotextile production as it creates ample employment opportunities and helps in the improvement of adverse environmental conditions. Geotextiles are used in soil to improve stability and to protect land surface to promote vegetation growth. The product also plays a significant role in soil erosion control and helps mitigate soil erosion. On-going research related to the use of geotextiles for soil erosion prevention in unpredictable climatic conditions is expected to aid in promoting their application in erosion prevention over the forecast period. In emerging countries such as India and China, there is an absence of a standardized manufacturing process, resulting in lower quality products with differentiated standards. However, increasing focus on exports to international markets by local producers is expected to compel them to adopt advanced manufacturing techniques. The extended lifespan and cost-effectiveness of geotextiles, coupled with growing environmental concerns regarding soil erosion, are projected to drive the demand for geotextiles. Promotional policies and initiatives by regulatory bodies have helped increase awareness regarding the benefits of geotextiles, thereby positively impacting market growth. Further key findings from the report suggest:
Geotextiles are widely used in U.S. to control erosion caused by rivers and other water bodies in mountainous areas. Geotextiles aid in the restoration of landmasses affected by storms and hurricanes such as Katrina and Isaac. The increased adoption of the product owing to the aforementioned factors is likely to drive the market growth in the country. Woven geotextiles are manufactured from individual threads including fibrillated yarns, monofilaments, or slit films that are woven together to provide high load capacity for road construction applications. The long lifespan of these fabrics, coupled with resistance to corrosion, drives its use for long-term applications. In European economies such as Germany and U.K., manufacturers are required to comply with the stringent regulations established by governing bodies, which state the specific characteristics of the types of geotextiles and the applications they are most suitable for. The favorable regulatory framework for the application of these products, especially in erosion prevention applications, is likely to drive the market growth. China has witnessed rapid economic growth over the past few decades, resulting in high investments in the construction sector. The ample availability of usable land is expected to increase infrastructural activities in the country. The Chinese government has made considerable investments in infrastructure projects, which would subsequently drive the demand for geotextiles in the country. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/41/ibb Prominent market players have been benchmarked based on their geographical reach, distribution networks, product portfolio, innovation, strategic developments, operational capabilities, and the market presence of their brands. The key players operating in the market include Koninklijke Ten Cate B.V., GSE Environmental, NAUE GmbH & Co., KG., Agru America, Officine Maccaferri, and Propex Operating Company, LLC. Major players in the market are entering into agreements with emerging and small-scale players to expand their distribution capacities and increase the market reach of their products. Furthermore, manufacturers are focusing on other efficient and effective distribution channels. As a result, companies are likely to establish partnerships with e-commerce portals to ensure that buyers have timely access to such products. Grand View Research has segmented the global geotextile market on the basis of product, material, application: Geotextile Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
Geotextile Material Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
Geotextile Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |