Infrastructural Development to Drive Geotextile Market from 2019 to 2029
Construction end-uses such as roads, landfills, harbours, reservoirs, canals, and dams are set to benefit from the growth of geotextile market. The global geotextile market will grow at a stupendous 11% CAGR during the forecast period (2019-2029).
From 2019 to 2029, the global geotextiles market is set to grow at a stellar pace owing to extensive use as soil stabilizer in roads, landfills, harbors, and drainage structures. Properties such as extended lifespan and low cost go in favor of these, helping the market witness an increase in valuation. And, as environmental concerns related to soil erosion mount, the demand for geotextiles will only witness an upward growth curve, creating a number of growth opportunities in the market. It is significant to note here that a number of government initiatives directed toward promotion of geotexiles is also helping the market chart robust figures over the stated period.
A very crucial factor that is driving the construction volumes world over is an increase in population, which is set to witness an addition of 2 billion people to the current value of 7.7 billion. Segments that would command a large share of the market growth over the assessment period are synthetic geotextile, used for separation and filtration purposes in construction industry, and road construction and pavement repair, in which it is used to improve life of road and its performance.
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Regional Analysis: Opportunities to arise from Developing Nations of the World
Used widely in road construction and infrastructural development, geotextile market players will witness a host of novel growth opportunities over this period, arising from developing countries in particular. In the Asia Pacific region, which is the largest geotextile market, China has directed significant investment toward construction activity owing to large stretches of usable land and this is set to drive demand for geotextiles in the region. Other countries such as South Korea, Japan, and India will also contribute positively to the growth of this region. Factors such as availability of raw material and labor (at low cost) will propel notable growth in the market.
In countries such as the United States of America, these are used to manage erosion in the mountainous region, along river beds and near other water bodies. Additionally, in the past these were used to restore regions devastated by storms such as Isaac and Katrina. Moreover, in European region, there are strict norms regarding the type of geotextile that can be used for various applications, helping the market grow.
Fragmented and Competitive Vendor Landscape to Mark Global Geotextile Market
The vendor landscape of the geotextile market has a number of significant players, making it fragmented and highly competitive. Innovation is a major factor that determines growth for individual players as well as market at large. Some of the top players in the market include Koninklijke TenCate (Netherlands), Low & Bonar (UK), Fibertex Nonwovens (Denmark), Thrace Group (Greece), Huesker (Germany), Berry Global (US), DuPont (US), Strata Systems (US), Leggett & Platt (US), Officine Maccaferri (Italy), GSE Environmental (US), Kaytech (South Africa), Mattex (Saudi Arabia), NAUE (Germany), Propex Operating Company (US), Carthage Mills (US), and Asahi Kasei Advance Corporation (Japan), among others.
In a bid to lay claim to larger marker share, a number of players are paying attention to a robust distribution network. Some are also trying to gain a better foothold in the market by forging strategic alliances such as mergers and acquisitions and partnerships and collaborations. It has been noted that alliances based on mutual synergies are often a cornerstone for a meaningful journey leading to higher profits.
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Name: James Hilton