The favorable regulatory support for use of geotextiles in construction activities in these countries is also expected to favorably impact the growth of this industry.
Albany, NY -- (SBWIRE) -- 10/20/2017 -- Geotextiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, a global geotextiles market report published by Transparency Market Research provides significant inputs about the global state of the current market of geotextiles industry along with a forecast about the opportunities, drivers and restraints in the market during the years 2012 and 2018, the forecast period of the report.
According to the report, the global market of geotextiles was worth nearly USD 3.2 billion in 2011. By observing growth at a CAGR of 10.3% during the forecast period, the market could reach a market value worth nearly USD 6.4 billion by 2018. Volume-wise, the geotextiles industry observed demands worth nearly 1,904.0 million square meters in 2011. This is expected to grow to 3,398.4 million square meters by 2018, by observing growth at a CAGR of 8.6% during the forecast period, adds the report.
Applications of geotextiles are on a constant rise in the area of construction of roadways, dams, bridges and other infrastructure amenities, especially in the BRIC countries. A continuous rise in the number of infrastructure development projects in this region is expected to drive the global market of geotextiles.
However, elementary factors that inversely affect the growth of any market such as the fluctuating prices of raw materials – polypropylene and polyester in this case – are expected to hinder growth of this industry to some extents during the forecast period of the report. In addition to this, the absence of a specified set of physical and mechanical standards for geotextiles across various countries is a significant factor that could challenge the growth of this market.
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The report segments the market in three major product sections in this industry : woven, non-woven and knitted.
Product-wise, the segment of non-woven geotextiles emerged as the largest consumer segment and acquired nearly 60% shares of the market in 2011. However, the report estimates that it could be the market segment of woven fabrics that would gain substantial and rapid growth during the forecast period of the report.
Application wise, the segment of road-construction led the global geotextiles market in 2011 and valued nearly USD 1,502.8 million.
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Geographically, the region of Asia Pacific dominated this industry in 2011. It held nearly 41% shares of this market in terms of volume. The report estimates that the European geotextiles market could value USD 1,647.7 million by 2018. During the report's forecast period, geotextiles market in the region of North America is expected to grow at a CAGR of 9.9%.
Some of key manufacturers in the industry include GSE Holdings, Royal TenCate, Maccaferri, Officine and NAUE among others.
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