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.
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Further key findings from the study suggest:
• The global geotextiles demand is expected to reach 4,323 million square meters by 2020 growing at a CAGR of 8.9% from 2014 to 2020.
• Asia Pacific was the largest geotextile consumer and is also expected to be the fastest growing regional market over the forecast period, at an estimated CAGR of 9.1% from 2014 to 2020. North America is also expected to witness significant growth on account of repair and maintenance for the vast road network of the region. European geotextile market revenue is expected to reach USD 1.97 billion by 2020, growing at a CAGR of 9.6% from 2014 to 2020.
• Non woven geotextiles were the most commonly used geotextiles in 2013, at an estimated consumption of 1,561 million square meters. Low cost and wide application scope make non-wovens the most preferred among other geotextiles products. Knitted geotextile demand is expected to reach 279.8 million square meters by 2020, growing at a CAGR of 7.1% from 2014 to 2020.
• The global geotextiles market is fragmented with the top 6 companies catering to about 40% of global demand in 2013. Key players in the market include Royal Tencate, NAUE, Low and Bonar and Propex among others.
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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:
• Geotextiles Application Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
- Erosion prevention
• Geotextiles Product Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
- Non Woven
• Geotextiles Regional Outlook (Volume, Million square meters; Revenue, USD Million, 2012 - 2020)
- North America
- Asia Pacific
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