New York City, 07 February 2019: The global Geotextile Market is
anticipated to reach USD 14.03 billion by 2026, according to a new study
published by Polaris Market Research.
Rapidly
rising infrastructural developments, rising applications in drainage systems in
several parts of the world and an escalating increase in activities for
prevention of soil erosion, are the primary factors that are driving the
worldwide geotextile market. The significant functions of geotextile are
separation, filtration, drainage, reinforcement, and protection. It is being
increasingly used as an alternative to granular soil filters. Governments of
several nations are taking preventive measures during construction of roadways
owing to increasing awareness regarding submerging of roads in case of natural
disasters and to ensure enhanced durability and quality. The product has found
several applications for reinforcing the soil banks in the construction of
bridges, roads, pavements, and highways among others. Their prime functions
include separation, sealing, filtration, drainage, and reinforcement among
others. Owing to their multifunctional characteristics they are suitable for a
variety of industries and find applications in agriculture, construction,
transportation, and maintenance industries among others.
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Increasing
population and urbanization across the globe has resulted in high demand for
geotextiles from the transportation, agricultural, and ground drainage systems.
Owing to these factors, the geotextile market expected to fuel over the coming
years. A challenge faced by the geotextile market in the present scenario is
that the material used in geotextiles, such as synthetic is a petrochemical
based product, thereby causing carbon emissions. This poses challenges as the
governments have formed stringent regulations to check the carbon footprint.
Its ability to provide a combination of through-plane and in-plane
permeability, adequate puncture resistance, and tear strength to resist
aggregate penetration under cyclic loads has resulted in high demand for the
product in several applications. The use of nonwoven type in pooling water,
drainage systems, and rail industry results in an increased lifespan of the
structures. It can be used over a couple of decades, thereby reducing the need
for frequent maintenance of these systems.
The global
geotextile market is fragmented as multinational players majorly dominates the
industry. These companies consistently introduce new products to boost their
offerings in the market. Moreover, the companies focus primarily on innovating
and investing in research and development to cater the growing needs across the
world. Leading companies are also focusing on expanding their businesses
through inorganic growth which increases their market potential in terms of
geographic expansion and expansion of their market penetration.
Competitive Landscape and Key Vendors:
South Korea
are the major contributors to the geotextile market growth in the Asia Pacific
region. China’s demand can be attributed to the nations’ infrastructural
reforms & developments, and several government initiatives. India’s growing
economic stability is yet another factor driving demand for geotextiles within
the region.
The key
players currently operating in geotextile market include Asahi Kasei Advance
Corporation (Japan), Berry Global (US), Carthage Mills (US), DuPont (US),
Fibertex Nonwovens (Denmark), GSE Environmental (US), Huesker (Germany),
Kaytech (South Africa), Leggett & Platt (US), Strata Systems (US), Mattex
(Saudi Arabia), NAUE (Germany), OfficineMaccaferri (Italy), and Propex
Operating Company (US) among others
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