Geotextiles are permeable fabrics that are used in construction and civil engineering projects to separate, filter, reinforce, protect, or drain when used in association with soil, rock, earth, or any related material. It finds applications in road construction, erosion control, retaining walls, landfill liners, underground drain pipes, and in several other civil engineering activities.

The global geotextile market is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

Paving applications is expected to create significant growth opportunities for players in the geotextile market. Geotextiles are increasingly used under asphalt or concrete in pavement construction for reinforcement, separation, filtration, and drainage purposes. They prevent cracking in asphalt overlay by absorbing stresses from frost heaves or soil settlement below the pavement. Further, they increase the lifespan of pavements by preventing water saturation of the subsoil below. With growing infrastructure development and repair activities globally, the demand for geotextiles from paving applications is estimated to rise substantially over the forecast period. This will pave the way for high revenue generation for companies offering geotextile materials suitable for paving applications.

Porter’s Analysis

Threat of new entrants: The geotextile market requires high capital investments for setting up manufacturing facilities and R&D. Strict environmental regulations also pose barriers for new companies.

Bargaining power of buyers: The geotextile market has several established manufacturers globally. Buyers can negotiate on prices, however switching costs are relatively high which limits their bargaining power.

Bargaining power of suppliers: Major raw materials used in geotextile production include polypropylene, polyethylene and polyester. Suppliers have moderate bargaining power due to availability of substitute materials.

Threat of new substitutes: Alternatives like shotcrete, rock bolting and soil nailing pose minimal threat due to advantages of geotextiles in drainage, separation and reinforcement applications.

Competitive rivalry: The global geotextile market is consolidated with top players. Market expansion and new product launches intensify competition.

SWOT Analysis

Strength: Geotextiles help prevent soil erosion, improve stability and water drainage. They are cost-effective for infrastructure development.

Weakness: Improper installation and compatibility issues with soils can reduce longevity. Geotextiles are susceptible to damage from roots, animals and ultraviolet radiation.

Opportunity: Rising infrastructure spending in developing nations drives demand. Geotextiles find increasing use in road construction, landfill lining and hydraulic works.

Threats: Fluctuating raw material prices and stringent environmental regulations increase production costs. Substitutes threaten certain application areas.

Key Takeaways

The Global Geotextile Market Growth is expected to witness high over the forecast period of 2023 to 2030 supported by increasing investments in infrastructure development worldwide. The global geotextile market is estimated to be valued at US$ 10.36 Bn in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023 to 2030.The Asia Pacific region currently dominates the global geotextile market and is expected to grow at the fastest rate led by countries such as India and China. Major road and railway projects underway make the region highly lucrative.

Key players operating in the geotextile market are Sanofi, Johnson & Johnson Services Inc., Pfizer Inc., Astellas Pharma Inc., Bayer AG, Bristol Myers Squibb, Merck Sharp & Dohme, Novartis International AG, Eli Lilly & Company, and AstraZeneca plc. Geotextiles find extensive usage in the construction of highways, railways, retaining walls and erosion control applications in the Asia Pacific region. The high economic growth coupled with rising focus on improving connectivity and transportation infrastructure will drive geotextile consumption in the region over the forecast period.

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