Demand from APAC to dominate global geotextile growth at a CAGR of 10.59% until 2019

26-Jun-15

The market for geotextiles is projected to reach US$8,632.83 mlnby 2019, growing with a CAGR of 10.59% between 2014 and 2019, as per Research and Markets. Asia-Pacific dominated global geotextiles market in 2013, in terms of value. The global geotextiles market is growing owing to the government policies and environmental norms supporting the commercial usage. Globally, governments in developed countries are making significant investments to secure long term future and their attitude towards socio-economic benefits is supporting the growth of geotextiles market. In India, the government aims to invest $1 trillion in infrastructure during their Twelfth Five-year plan (2012-2017). Asia Pacific is anticipated to be the fastest growing market for geotextiles in the coming years. The demand for geotextiles is likely to increase in Asia Pacific due to growing infrastructure activities. Though global geotextiles market is highly fragmented, major players are located in the developed countries. Demand from the emerging markets is likely to remain robust in the coming five years, due to rising awareness about the benefits of geotextiles. Major players have prominent presence in the developing countries.