Geotextiles Market is expected to reach the value of US$ 22.9 Bn by the end of 2031, expanding at a CAGR of 10.3% during the forecast period 2021 - 2031
Geotextiles Market: Introduction
Transparency Market Research delivers key insights on the global geotextiles market. In terms of revenue, the global geotextiles market is estimated to expand at a CAGR of 10.3% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global geotextiles market.
The global geotextiles market is broadly affected by several factors, including increase in usage of geotextiles in the construction industry. Rapid urbanization in developed and developing economies is boosting the demand for commercial construction. Thus, expansion of the construction industry is propelling the demand for geotextiles across the globe.
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Geotextiles Market: Dynamics
Geotextiles are cost-efficient, and therefore, favored for different capacities such as detachment, filtration, fortification, insurance, and seepage in structural designing applications. Thus, the global geotextile market is likely to expand significantly in the near future. The market is also expected to expand because of growth in construction and agriculture sectors.
Properties, for instance, adaptability and porousness of geotextiles is fueling the development of the global geotextiles market. Sturdiness and cost adequacy is likewise anticipated to fuel the growth of the global geotextile market over the forecast period. Geotextiles industry players are striving to improve geotextiles, led by government push and to build their presence in the overall industry in the global market. This is projected to drive the global geotextile in the next few years.
Geotextiles are essentially utilized for building roads, railroads, expressways, and aircraft terminals. Surge in infrastructure activities and spending in China, India, and Indonesia, alongside government initiatives undertaken with regard to infrastructural improvement is predicted to drive the market growth.
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Geotextiles Market: Prominent Regions
Asia Pacific held major share of the global geotextiles market in 2020. Increase in demand for geotextiles for construction in Asia Pacific is driving the geotextiles market in the region. This trend is expected to continue during the forecast period. The emergence of Asia Pacific can be ascribed to the rise in expenditures by governments toward development of infrastructure. China is a key country of the geotextiles market in Asia Pacific. It held a significant share of the geotextiles market in Asia Pacific in 2020. The country is estimated to maintain its dominant position in the region during the forecast period.
Geotextiles Market: Major Players
The global geotextiles market is consolidated, with the presence of key players. Prominent players operating in the global geotextiles market include Royal TenCate, Propex, GSE Holding Inc., Officine Maccaferri, NAUE GmbH & Co. KG, Low & Bonar, Fiberweb, Fibertex, Tenax, Agru America, and Global Synthetics.
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Global Geotextiles Market: Segmentation
Geotextiles Market, by Type
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets.
Nov 09, 2022
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