by Geotextiles are textile materials used in road construction and drainage systems. They are made from polypropylene, polyester or other polymeric fibers that are non-woven or woven. Geotextiles provides soil stabilization, separation, reinforcement, filtration and drainage functions. They are used below roadways and embankments to separate soils of different types and grades preventing mixing, under asphalt overlays to reduce reflective cracking, for sloping of soils and behind retaining walls to drain excess pore water pressures. Some key applications of geotextiles include road construction, erosion control, railway works and agriculture. In road construction activities, geotextiles are used for subgrade stabilization that involves separating aggregate from poor soils below the pavement or in shoulders.
The global geotextile market is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
One of the major drivers boosting the geotextile market growth is the increasing adoption of geotextiles in road construction activities. According to World Road Statistics report, the total road network around the world is estimated to be 64.7 million kilometers. Rapid infrastructure development and growing road construction projects especially in developing regions of Asia Pacific and Latin America is propelling the demand for geotextiles. Geotextiles help in reinforcing the base layer, controlling erosion and providing drainage in road construction. They separates soils of different properties and prevent mixing of soils which helps road last longer. The other driver favoring the market growth is rising application of geotextiles for improvement of agricultural production and soil erosion control. Geotextiles are used as weed control fabrics, cultivation blankets and filters in agriculture. They help retain moisture and separation of different types of soils thus improving plant root development which drives their adoption.
Segment Analysis
The geotextile market is segmented by material type, application and geography. Based on material type, the market is segmented into natural, synthetic and blend. Synthetic segment dominates the market and is expected to grow at highest CAGR during forecast period. This is majorly due to high availability, cost effectiveness and superior properties such as long-term durability, high tensile strength offered by synthetic geotextiles.
PEST Analysis
Political: Government initiatives for development of roads, highways and infrastructure is creating growth opportunities. Rising focus on construction of smart cities further supplements market growth.
Economic: Growth in construction, mining, agriculture industries drives demand. High demand from developing nations due to rapid urbanization and industrialization fuels market growth.
Social: Growing population and rapid urbanization across the globe increases the need for residential and commercial infrastructure development projects using geotextiles.
Technological: Development of innovative geotextile materials with enhanced properties using nanotechnology and automated manufacturing process aids market growth.
Key Takeaways
The Global Geotextile Market Size is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.
Regional analysis indicates Asia Pacific dominates the market currently due to large consumer base, rapid infrastructure development projects in countries like China and India. Europe is the second largest and fastest growing region.
Key players operating in the geotextile market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Key players are investing in R&D to develop innovative application-specific geotextiles. They also focus on capacity expansion to cater rising demand.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
