The global geotextiles market size was valued at USD 3.39 billion in 2023 and is projected to grow from USD 3.62 billion in 2024 to USD 6.14 billion by 2032, exhibiting a CAGR of 6.8% during the forecast period. Fortune Business Insights in its latest report, titled, “Geotextiles Market, 2022-2029.” The report further observes that the market stood at USD 9,014.2 million in 2020 and is projected to exhibit a CAGR of 7.7% between 2021 and 2028. This is attributed to factors such as the increasing spending on construction projects that is expected to boost the adoption of geotextiles worldwide.

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Market Segmentation:

By Material

The synthetic segment, comprising polypropylene (PP), polyester, polyethylene, and others, dominates the market. Among these, PP is expected to lead due to its high strength, low elongation, and durability, making it ideal for roads, dams, railways, and erosion control applications.

By Product

The non-woven segment is projected to hold the largest share, driven by infrastructure development in roads, railways, and airports. Non-wovens are preferred for soil separation, drainage, reinforcement, and filtration due to their lightweight, durability, and resistance to temperature and wear. In the EU, about 60% of geotextile nonwovens are used in road construction, contributing to reduced carbon emissions.

DRIVING FACTORS

Increasing Investment in Construction Projects to Promote Growth

According to the U.S. Commerce Department, the spending on construction projects was at a record high in January 2021. It further reports that the total investment surpassed to a staggering USD 1.521 trillion, an overall increment of 1.7%. The increasing spending on construction projects is likely to boost the adoption of coir products owing to their superior properties such as liquid repellency and mechanical strength. Moreover, supportive government policies formulated for coir manufacturers to improve their production will boost the global geotextiles market growth in the forthcoming years.

Further Report Findings:

• Asia Pacific stood at USD 3,038.1 million in 2020. The region is expected to hold the highest position in the market during the forecast period. This is attributable to the increasing government initiatives to develop infrastructure in countries such as India and China.
• North America is expected to showcase considerable market growth backed by the presence of highly developed drainage systems that require periodic maintenance propelling the demand for advanced geotextiles in countries such as the U.S. and Canada.
• Based on product, the woven segment held a global geotextiles market share of about 34.18% in 2020 and is anticipated to showcase significant growth in the forthcoming years. This is ascribable to factors such as the increasing demand for woven products due to their beneficial properties such as improved performance and reduced maintenance costs across the globe.

COMPETITIVE LANDSCAPE:

Investment in R&D by Key Players to Amplify Their Market Positions

The market is consolidated by major companies striving to leverage the lucrative opportunities to maintain a stronghold. These companies are focusing on investments in R&D activities to develop novel natural geotextiles to cater to the growing demand from the construction sector. Moreover, other key players are trying to maintain their presence by adopting strategies such as collaboration, facility expansion, and the introduction of new products that will contribute to the growth of the market in the forthcoming years.

Industry Development:

• March 2020 - Megaplast, an Indian polyethylene product manufacturer, announced the adoption of BASF’s light stabilizers from the Chimassorb to produce nonwoven geotextiles. They are likely to be utilized in the construction of national highways.

List of the Companies Profiled in the Market: