NEW YORK, February 21, 2017 /PRNewswire/ --
Favorable government initiatives coupled with increasing budget allocations for improving road and railway networks to drive India geotextiles market by 2026
According to TechSci Research report, "India Geotextiles Market By Type, By Material, By Application, Competition Forecast & Opportunities, 2012 - 2026" geotextiles market in India is forecasted to grow at CAGR 12% during 2016 - 2025. Ongoing and upcoming highway projects under green highway mission by Ministry of Road Transport and Highway (MoRTH), coupled with increasing investments to improve and expand road and railway networks across the country are expected to fuel demand for geotextiles in India through 2026. In FY2018, USD36.02 billion was allocated to the country's transport sector, which includes shipping, road and rail. Whereas, budget allocation for highways in the road sector increased from around USD8.65 billion in FY2017 to USD9.68 billion in FY2018 Moreover, geotextiles are also used to prevent soil erosion in coastal areas, which is further propelling demand for geotextiles in the country. The aforementioned factors are expected to drive demand for geotextiles in India through 2026.
Browse 7 market data Tables and 26 Figures spread through 88 Pages and an in-depth TOC on
"India Geotextile Market"
Railway is one of the fastest emerging application areas for geotextiles in India, as upcoming metro rail, bullet train and high speed train projects in the country are expected to fuel geotextile demand during 2017-2026. Other application areas for geotextiles include erosion control, drainage, etc. Non-woven geotextiles dominated geotextiles market in India during 2012-2016, and the segment is anticipated to continue its market dominance in the coming years as well. Moreover, polyester used for manufacturing geotextiles and is expected to witness fastest growth among all the materials used for manufacturing geotextiles in the country. Garware Wall Ropes Ltd., TechFab India Industries Ltd are among the leading companies in geotextiles market in India.
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"Increasing plantation activities along road side to maintain sustainable environment as per the National Green Highway mission is anticipated to fuel demand for geotextiles in the country over the course of next five years. Increasing measures being taken to control soil erosion, especially in the country's west and east regions, coupled with infrastructural development of railway and road network in India, are further forecast to fuel demand for geotextiles in the country through 2026.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India Geotextiles Market By Type, By Material, By Application, Competition Forecast & Opportunities, 2012 - 2026" has evaluated the future growth potential of India geotextiles market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India geotextiles market.
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