Geotextiles Market is Expected to Reach USD 6.4 Billion Globally in 2018: Transparency Market Research
Albany, New York (PRWEB) May 02, 2013
In terms of volume, the demand for geotextiles was 1,904.0 million square meters in 2011 and is expected to reach 3,398.4 million square meters in 2018, growing at a CAGR of 8.6% from 2012 to 2018. Increasing demand from roadway construction, especially from BRIC countries, is expected to drive geotextile demand over the next five years. Special focus on the use of geotextiles in infrastructural activities coupled with favorable regulatory support is also expected to have a positive impact on global demand.
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However, the fluctuating cost of commonly used raw materials such as polypropylene and polyester is expected to have an adverse effect on the market over the forecast period. In addition, the absence of defined standards across the countries has also emerged as a key challenge for market participants.
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Among the product types, non-woven geotextiles was the largest consumed segment, accounting for over 60% of the overall demand in 2011. However, woven fabrics are expected to show substantial growth over the forecast period. Road construction was the largest application segment for geotextiles, and was valued at USD 1,502.8 million in 2011.
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Asia Pacific dominated global geotextiles demand, accounting for over 41% of global volumes in 2011. European geotextiles market revenue is expected to reach USD 1,647.7 million in 2018, while North America market revenue is expected to grow at a CAGR of 9.9% from 2012 to 2018.
Key geotextile manufacturers include Royal TenCate, GSE Holdings, NAUE, and Officine Maccaferri among others. These companies along with other leading manufacturers in the market have been profiled in the report.
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