Pune, India, April 01, 2021 (GLOBE NEWSWIRE) -- The global geotextiles market size is expected to showcase considerable growth by reaching USD 16,212.5 million by 2028 while exhibiting a CAGR of 7.7% between 2021 and 2028. Fortune Business Insights in its latest report, titled, “Geotextiles Market, 2021-2028.”, mentions that the market stood at USD 9,014.2 million in 2020. Factors such as the increasing incidence of natural calamities and the increasing focus on the deployment of coir in the construction of roads are expected to favor the product’s demand worldwide. For instance, in May 2020, the Central Government of India announced the adoption of coir geotextiles for the construction of rural roads under the third phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY-III).
COVID-19 led to Order Cancellation Impacting Coir Industry
The disruption in supply chain due to the lockdown announced by the government agencies has led to the cancellation of several orders witnessed by the coir manufacturers globally. For instance, several coir products have piled up at industrial units due to declining in export and import activities amid the novel coronavirus. This is affecting the growth of the market in the shorter run. However, supportive government policies to support SMEs is expected to bode well for the resumption of trade activities while taking the necessary precautions.
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The market report provides a detailed qualitative and quantitative analysis of the market and focuses on crucial aspects such as materials, leading companies, applications, and products. Also, the report offers insights into the latest trends and highlights key industry developments. The report further includes historical data & forecasts revenue growth at global, regional, and country levels, and analyzes the industry's latest dynamics and opportunities that will impact the market growth between 2021 and 2028.
- June 2020 – Mattex Geosynthetics announced an investment worth USD 150 million to expand its nonwoven and woven geotextiles capacity located in Saudi Arabia and UAE. The company aims to strengthen its position in the region with its expansion plans.
List of the Companies Profiled in the Geotextiles Market:
- Maccaferri (Bologna, Italy)
- TENAX (Lecco, Italy)
- TenCate Geosynthetics Asia Sdn Bhd. (Selangor Darul Ehsan, Malaysia)
- GSE Environmental (Texas, the U.S.)
- Terram Geosynthetics Pvt. Ltd. (Gujarat, India)
- HUESKER Synthetic GmbH (Gescher, Germany)
- Global Synthetics (New South Wales, Australia)
- TYPAR Geosynthetics (Tennessee, the U.S.)
- Fibertex Nonwovens A/S (Aalborg, Denmark)
- Belton Industries (South Carolina, the U.S.)
- Thrace Group (Alimos, Greece)
- NAUE GMBH & CO. KG (Espelkamp, Germany)
- AGRU AMERICA, INC (South Carolina, the U.S.)
- Gayatri Polymers & Geo – Synthetics (Vadodara, India)
- Suntech Geotextile Pvt. Ltd. (Chhattisgarh State, India)
- SKAPS Industries (Georgia, the U.S.)
- Other Key Players
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Increasing Incidence of Natural Calamities to Augment Growth
According to the National Centers for Environmental Information (NCEI), there were in total around 22 billion-dollar climate and weather calamities in the United States. These included 7 tropical cyclones, 1 wildfire, 1 drought, and 13 severe storms. The increasing incidence of such disasters propels the need for the adoption of strong materials to ensure optimum protection of soil, roads, and bridges. Geotextiles aid in retention of walls and embankments when adopted in several road construction activities. Therefore, the constant threat of natural calamities is expected to boost the global geotextiles market growth in the forthcoming years.
Asia-Pacific – The region is expected to remain at the forefront and hold the largest global geotextiles market share in terms of revenue in the forthcoming years. This is attributable to the growing construction industry and several large infrastructure projects in the pipeline in countries such as China and India. Asia Pacific stood at USD 3,038.1 million in 2020.
Europe – The region is expected to showcase exponential growth backed by the rising environmental and health concerns that are propelling the demand for natural fibers in construction projects. This initiative is being perceived as a positive trend for the high adoption of natural products in the European region.
Key Players Focus on Facility Expansion to Strengthen Their Market Positions
The market is consolidated by the presence of prominent companies such as Fibertex Nonwovens A/S, HUESKER Synthetic GmbH, TENAX, and others. These companies are focusing to expand their facilities to improve their sales revenues and cater to the growing demand of geotextiles across several infrastructural development projects. Furthermore, other key players are striving to gain a major chunk of the market share by adopting organic and inorganic strategies that will bode well for the market growth during the forecast period.
Browse Detailed Summary of Research Report with TOC:
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Emerging Trends – For Major Countries
- Industry SWOT Analysis
- Regulatory Analysis
- Recent Industry Developments - Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Insights – Impact of COVID-19 on Global Geotextiles Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Geotextiles Market Analysis, Insights and Forecast, 2017-2028
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Material (Volume/Value)
- By Product (Volume/Value)
- By Application (Volume/Value)
- Road construction
- Erosion control
- Pavement Repair
- By Region (Volume/Value)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- By Material (Volume/Value)
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