Global geotextile market is estimated to reach $14.03 billion by 2026, according to the latest research available at Market Study Report LLC, report provides detailed segmentation of the biotechnology market based on type, application, end user and region.
As per the report, the primary growth drivers behind the global geotextile market include the rapid increase in infrastructural developments, growing applications in drainage systems across numerous parts of the world, and a significant increase in activities to tackle soil erosion.
The important functions of geotextile comprise filtration, separation, reinforcement, drainage, and protection. It is being progressively used as a substitute to granular soil filters. Governments of several nations are taking precautionary measures while constructing roadways due to increasing awareness about submerging of roads from natural disasters and to assure improved quality and durability.
The product is extensively used for strengthening soil banks while constructing roads, bridges, highways, and pavements and an array of other applications. Their key functions comprise of sealing, separation, drainage, filtration, and reinforcement among others. On account of their multifunctional characteristics, they are compatible with a variety of industries and seek applications in fields like construction, agriculture, maintenance, and transportation industries among others, cites the study.
The burgeoning population and rapid urbanization throughout the globe have led to high demand for geotextiles from agricultural, transportation, and ground drainage systems. Given these factors, the geotextile market is estimated to grow significantly over the coming years. On the contrary, a factor that could hinder geotextile market growth in the current scenario is the use of materials such as synthetic in manufacturing geotextiles. Synthetic is a petrochemical-based product, which causes carbon emissions. This poses a huge threat for governments imposing strict regulations to control carbon footprint.
The product’s ability to deliver a mix of in-plane permeability and through-plane, suitable puncture resistance, and tear strength to prevent aggregate penetration during cyclic loads has led to high demand for the product across several applications. Moreover, using nonwoven type in drainage systems, pooling water, and rail industry has increased the life expectancy of the structures. It can also be used for a couple of decades, which lowers the need for frequent maintenance of these systems, thereby impacting product demand.
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In terms of regional growth, South Korea is a leading contributor to the Asia Pacific geotextile market growth. Meanwhile, high product demand in China is attributable to the nation’s infrastructural developments & reforms, and numerous government initiatives. In India, the rising economic stability is yet another driving force behind demand for geotextiles within the region.
These companies operating in this business space constantly launch new products in a bid to boost their offerings in the market. Additionally, the companies mainly concentrate on innovating and investing in R&D to meet the growing needs throughout the world. Market majors are also increasingly focusing on developing their businesses through inorganic growth which raises their potential in terms of regional expansion and market penetration.
The key players operating in the competitive landscape of geotextile market include Berry Global (US), Asahi Kasei Advance Corporation (Japan), DuPont (US), Carthage Mills (US), GSE Environmental (US), Fibertex Nonwovens (Denmark), Kaytech (South Africa), Huesker (Germany), Strata Systems (US), Leggett & Platt (US), NAUE (Germany), Mattex (Saudi Arabia), Propex Operating Company (US), and OfficineMaccaferri (Italy) among others.