April 17, 2024
Technical Textile & Nonwoven

Geotextile Market To Hit US$ 16.55 Billion By 2032

The Geotextile market is poised for substantial growth, with projections indicating an escalation from US$ 9 billion in 2022 to a staggering US$ 16.55 billion by 2032, reflecting a robust CAGR of 7% during the forecast period. This surge is primarily attributed to the escalating population figures, alongside the rapid industrialization and urbanization witnessed across emerging markets, catalyzing a notable uptick in geotextile adoption.

Geotextiles serve as integral components in enhancing soils utilized for constructing roads, pipelines, embankments, and various earth-holding structures. Comprising diverse materials such as warp-knitted textiles, open-mesh textiles, and nonwoven textiles, they fulfill critical functions including filtration, separation, reinforcement, protection, and drainage. Notably, the filtration properties of geotextiles facilitate the separation of water and other fluids from solid particles, primarily in drainage applications.

The flexibility and permeability inherent in geotextiles are poised to propel market expansion during the forecast period. Furthermore, the durability and cost-effectiveness of these materials are anticipated to further bolster market growth.

Key Market Insights:

  • The Geotextile Market is forecasted to expand from US$ 5.75 billion in 2020 to US$ 11.86 billion by 2028, boasting a robust CAGR of 11.4% over the forecast duration.
  • The nonwoven segment is anticipated to emerge as the largest, reaching US$ 4.98 billion by 2028, with a CAGR of 12.2%. The burgeoning demand for nonwoven geotextiles in the road and rail industries is a key driver fueling global market growth.
  • Within the synthetic segment, a significant expansion is expected, with projections reaching US$ 6.41 billion by 2028, exhibiting a notable CAGR of 12.3% during the forecast period. Polypropylene-based geotextiles are anticipated to dominate this segment, experiencing the highest growth rate.
  • The road construction segment is set to dominate the market, projected to reach US$ 4.39 billion by 2028, with a notable CAGR of 12.4%. Geotextiles play a pivotal role in road construction by stabilizing soil and enhancing the longevity of roads.
  • The Asia Pacific (APAC) region is anticipated to witness remarkable growth, with projections reaching US$ 3.68 billion by 2028, showcasing a substantial CAGR of 12.4%. Key markets in this region include China, India, Japan, and South Korea, driven by burgeoning infrastructure development activities, particularly in ASEAN countries.

Key Players:
Major players in the Geotextile Market include Low & Bonar (UK), Officine Maccaferri (Italy), Koninklijke TenCate (Netherlands), Thrace Group (Greece), Huesker (Germany), Berry Global (US), Fibertex Nonwovens (Denmark), DuPont (US), Strata Systems (US), Carthage Mills (US), among others.

For more detailed insights, please refer to the PDF: https://www.reportsanddata.com/report-detail/geotextile-market

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