Global Geotextile Market Growth Accelerated by Increased Infrastructure Development

Geotextiles are permeable fabrics which when used in association with soil, have the ability to separate, filter, reinforce, protect, or drain. They provide stabilisation to soft soils and protection for vulnerable soils from erosion. The increasing development of infrastructure especially in developing nations due to rapid urbanisation has boosted the demand for geotextiles. They are used in construction of roads, railways, dams, and development of landscape.

Market key trends:

The increasing infrastructural projects across the globe especially in developing regions is one of the key trends driving the growth of the geotextile market. Geotextiles play a vital role in development of roads, highways, railways, and buildings. They provide stability, prevent erosion, and allow water drainage effectively. Thus, the surging investments in infrastructure will augment the demand for geotextiles over the forecast period. Additionally, the growing awareness regarding benefits of geotextiles especially in road construction is also contributing to the market growth.

Segment Analysis

The global geotextile market is segmented into geosynthetics, geomembranes, geogrids, geotextiles, and others. Among these, the geotextiles segment dominates the market and accounts for the major share. Geotextiles are porous and permeable fabrics that, when used in association with soil, have the ability to separate, filter, reinforce, protect or drain depending on their specification. They provide stability to earthen structures like embankments of roads and railways. This widespread applications has made geotextiles the dominating sub-segment.

Key Takeaways

The Global Geotextile Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Advancements in geotextile materials and growing infrastructure development projects are fueling the market expansion. 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 2023-2030.

Regional analysis - Asia Pacific region currently dominates the global geotextile market and is expected to continue its dominance over the forecast period. Rapid urbanization and industrialization in countries like China and India are driving large infrastructural projects in the region. Additionally, growing government investments in road construction and railway network development are propelling the regional market.

Key players - 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. These companies are focusing on new product launches and expansion strategies to gain higher market shares.

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