Meticulous Research®’s recent report highlights the Geotextiles Market projected growth to $18.1 billion by 2031, with an 8.8% CAGR from 2024 to 2031. Key drivers include increasing construction projects in emerging markets, investment in nonwoven geotextiles, and strict environmental regulations. However, raw material price volatility remains a concern.
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Growth Potential and Obstacles
The market is poised for growth due to rising interest in bio-based geotextiles and material innovations. Challenges such as limited technical knowledge in emerging economies could impact market development.
Material Segmentation
The market is categorized into synthetic and natural materials. Synthetic geotextiles are expected to dominate in 2024, holding over 87% of the market. Their dominance is due to their lower production costs and extensive use in infrastructure projects. Tensar International Corporation’s launch of InterAx geogrids illustrates ongoing innovation in this segment.
Product Type Segmentation
Geotextiles are classified into woven, non-woven, and knitted types. Non-woven geotextiles are projected to capture the largest market share in 2024, over 66%, due to their lightweight, flexible nature, and cost benefits. Investments like Willacoochee Industrial Fabrics’ new nonwoven production line are boosting this segment’s growth.
