The global geotextiles market size is expected to experience exponential growth by reaching USD 16,212.5 million by 2028. Fortune Business Insights in its latest report, titled, “Geotextiles Market, 2021-2028.” The report further observes that the market stood at USD 9,014.2 million in 2020 and is projected to exhibit a CAGR of 7.7% between 2021 and 2028. This is attributed to factors such as the increased spending on construction projects that is expected to boost the adoption of geotextiles worldwide.
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in the resumption of industrial activities.
Market Segmentation:
Based on material, the market is bifurcated into natural and synthetic. On the basis of product, the market is categorized into woven, non-woven, and knitted. Moreover, based on application, the market is segmented into road construction, erosion control, pavement repair, drainage, railroad, agriculture, and others. Lastly, on the basis of region, the market is categorized into North America, Asia-Pacific, Latin America, the Middle East and Africa, and Europe.
What does the Report Provide?
The market report provides a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaboration that will further contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PORTER’s Five Point Analysis and PESTEL to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Information source:
https://www.fortunebusinessinsights.com/geotextiles-market-105063
