San Francisco, California (PRWEB) April 07, 2014
The global market for Geotextiles is expected to reach USD 8.24 billion by 2020, according to a new study by Grand View Research, Inc. Increased focus on geotextiles and its applications in roadways and erosion prevention is expected to be a key driver for the growth of the market. In addition, growing regulatory support in emerging countries including India, China, UAE and Brazil is also expected to augment the demand for geotextiles over the forecast period.
Road construction and erosion control were the largest applications of geotextiles together accounting for over 60% of global demand in 2013. Increasing infrastructure spending in Asia Pacific, Middle East and Latin America are expected to act as key factors for driving geotextile demand for this application. Road construction is also expected to be the fastest growing segment over the forecast period, at an estimated CAGR of over 9% from 2014 to 2020.
The report “Geotextiles Market Analysis and Segment Forecast To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/geotextiles-industry
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global Geotextiles market on the basis of application, product and region:
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About Grand View Research
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