The market for geotextiles (permeable materials used to prevent or decrease soil erosion) was hammered hard by The Economic Crisis of 2008 as construction projects came to a halt all over the world. The dust has finally settled however, and vendors are slowly recovering by tailoring their products to fit a wider range of ventures like road, railway, and airfield construction. This product versatility has enabled geotextiles to cross over into new industries which is a huge reason for the projected CAGR of 10.96 percent for the 2012-2016 period.
Branching out to different industries is a catalyst for several trends, like the three detailed below—all of which will help drive the market to new heights.
- Increased Use of Natural Geotextiles
Natural geotextiles provide a less expensive option to meet end-user requirements and with more companies going green, demand for biodegradable and eco-friendly textiles is on the rise.
- Increased R&D Spending
Manufacturers are creating new and innovative geotextile products and exploring potential markets to increase their revenue. A considerable amount of research is also being cone to use recycled raw materials in the manufacturing process.
- Increased Number of Mergers and Acquisitions
Small and medium-sized vendors are more effective in manufacturing geotextile products to meet local demands but they lack the resources to cater to large national and international projects. Key market players are merging and/or acquiring smaller firms to increase market shares and improve global presence.
These trends are helping geotextiles develop into a must-have for almost any major construction project.
Are there alternatives? Yes. But given that geotextile products are cheaper, easier to produce and more available, there’s no reason for end-users to even consider exploring other options. In a world under constant construction, huge profits stand to be made as end-users continue to reap the benefits of the geotextiles market, which is why we don’t expect to see it disintegrate anytime soon.
For more information, view our 2012-2016 Global Geotextiles Market report.
