Ongoing large-scale infrastructure projects are fueling global demand for geotextiles in the architecture, engineering and construction (AEC) industry. The growing utilization of geotextiles with improved functional characteristics and cost-effectiveness for erosion control applications are steering revenue expansion of the geotextiles market. Globally, the market valuation is projected to reach US $22.9 billion by 2031, advancing at a CAGR of 10.3% during the forecast period of 2021–2031, according to a new study from Transparency Market Research.
Favorable regulatory outlook for the construction of roads has spurred the demand for geosynthetics in various functional requirements in the application, according to the study. Rise in demand for geotextiles in a number of civil engineering applications has expanded revenue gains for players in the geotextiles market. Emerging geotechnical applications in the AEC industry has spurred the revenue generation, finds the TMR report on the geotextiles market.
Key findings of Geotextiles Market Study
- Numerous Geotechnical Engineering Applications to Fuel Uptake of Geotextiles: The geotextiles market has been growing in valuation from the massive demand for the products in several geotechnical applications. Of note, widespread use in a myriad of civil engineering applications is driving revenue growth of the global geotextiles market.
- Myriad Applications in AEC Industry to Underpin Enormous Lucrative Avenues: Changing regulations on the use of materials in the AEC industry has changed the course of demand in the geotextiles market. Furthermore, improvements in performance and cost-effectiveness of the products are spurring the application in civil engineering purposes, such as in infrastructural works. New advancements in geosynthetics have expanded the lucrative avenues for players in the geotextiles market, assert the TMR analysts securitizing key opportunities in various product categories. The use in land reclamation projects has also bolstered the sales.
- Construction of Roads to Catalyze Need for High-quality Materials: Growing public and private infrastructure has spurred the need for low-maintenance roads. This has led to the utilization of high-quality geotextiles in road constructions, especially in emerging economies. Highway roadway constructions on various soil conditions has also catalyzed need for advanced products in the geotextiles market.
Find more on the study at https://www.transparencymarketresearch.com/geotextiles-market.html.