Geotextiles Market Size

Geotextiles Market size was valued at USD 7.38 billion in 2023 and is expected to exceed USD 17.36 billion by 2036, expanding at over 6.8% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of geotextiles is assessed at USD 7.78 billion. The growth of the market can be attributed to the various advantages of geotextiles, such as, erosion resistance, higher strength and durability, and overlay stress absorption. Moreover, use of geotextiles protects the road or pavement from degradation by soil, while also safeguarding the biodiversity of the soil. Moreover, geotextiles also provide greater stability to roads, and other infrastructures. Growing construction activities across the world is estimated to boost the market growth. Furthermore, natural geotextiles are being extensively used to curb deforestation by reducing soil erosion and degradation of vegetation. Additionally, geotextiles are used to regenerate forest areas. The growing government concerns to reduce deforestation and loss of vegetation is estimated to boost the market growth. According to the Food and Agriculture Organization of the U.N., since 1990, over 420 million hectares of forest have been converted into industrial land. Between 2015 to 2020, the annual rate of deforestation reached 10 million hectares per year.