Global geotextiles market projected to grow at CAGR of over 10% between 2014 and 2019

21-May-15

The market for geotextiles is projected to reach US$8632.83 mln by 2019, growing at a CAGR of 10.59% between 2014 and 2019, as per Markets and Markets. Asia-Pacific dominated the geotextiles market in 2013. Asia-Pacific is projected to gain the major market size by value by 2019. The geotextile market is segmented into three types: nonwoven, woven and other. It is expected to show high growth owing to evolving environmental norms boosting the commercial usage of geotextiles to enhance the growth of geotextiles. Nonwoven is the major type of geotextiles accounting for around 65% of the market in 2013, followed by Woven & other geotextile product types Nonwoven held the major share in the geotextiles value market in 2013 and would remain the largest shareholder till 2019. The woven geotextiles held the second largest share for the geotextiles value, and projected to grow with a healthy CAGR, from 2014-2019.