Geotextiles Industry Analysis - Market Research Report, 2020 | Hexa Research

Posted by Marsh William on September 26th, 2018

26 September 2018, Global Geotextile Market size is likely to be valued at USD 8.24 billion by 2020; as per a new research report by HexaResearch. Increasing use in soil reinforcement activity coupled with growing application scope in road & railway development is likely to drive market growth.

Favorable government regulations in countries such as China, India, Brazil and UAE supporting application development and employment creation in manufacturing industries is likely favor geotextiles market growth. Lack of manufacturing standardization coupled with fluctuation prices of raw materials such as polyester and polyethylene is anticipated to challenge trade opportunities and profitability.

Nonwoven geotextiles were the largest consumed product segment and accounted for over 65% of the total volume in 2013. Low cost and factors such as absorbency, mechanical strength and liquid repellency make nonwoven products to be widely preferred in the industrial applications. Woven products were the second largest consumed product and are likely to witness significant gains, at an estimated CAGR of 9.0% from 2014 to 2020.

Key report insights suggest:

Global geotextiles market size was estimated 2389.2 million square meters in 2013 and may register 4323.7 million square meters by 2020 growing with an estimated CAGR of 8.9% from 2014 to 2020.

Road construction applications dominated the market and accounted for 43.5% of the total volume in 2013 and likely to witness significant growth rates. Laying road foundation and increasing road life span by strengthening weak soil are factors likely to drive demand for this application. Drainage application is likely to witness above average growth rates with an estimated CAGR of 8.9% up to 2020.

Browse Details of Report@ https://www.hexaresearch.com/research-report/geotextiles-industry/