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Geotextile Tubes industry Trend
The wastewater segment, which led in 2019, is expected to maintain its position due to stringent government regulations and increased utilization of geotextile.
WILMINGTON, DELAWARE, UNITED STATES, July 8, 2024 /EINPresswire / -- Allied market Research recently released a report titled "Geotextile Tubes Market ," forecasting substantial growth in the industry. In 2019, the global market size for geotextile tubes was $3.3 billion, with expectations to reach $7.2 billion by 2027, growing at a CAGR of 10.0% from 2020 to 2027. Key growth drivers include increased demand from developing countries and a shift towards non-woven technical fabrics. Challenges such as significant toxic waste production are offset by emerging eco-friendly technologies, presenting new growth opportunities.
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Key growth drivers include increased demand from developing countries and a preference for non-woven technical fabrics. Challenges such as the significant production of toxic waste are mitigated by the emergence of eco-friendly technologies, which are expected to create new opportunities in the coming years.
The marine segment is projected to grow at the fastest rate (11.7% CAGR) from 2020 to 2027, driven by its cost-effectiveness in marine construction projects such as artificial surfing reefs and bund wall structures. Meanwhile, the wastewater segment, which led in 2019, is expected to maintain its position due to stringent government regulations and rising use of geotextile dewatering bags.
The non-woven segment dominated the market in 2019, accounting for nearly three-fifths of the total market share and is projected to maintain its dominance with a CAGR of 10.2% from 2020 to 2027. This growth is driven by increased applications in disposables, industrial materials, and durable consumer goods due to their cost-effectiveness.
Among end-user industries, the marine segment is expected to grow the fastest with a CAGR of 11.7% during the forecast period, driven by its cost-effectiveness in marine construction projects. Meanwhile, the wastewater segment, which led in 2019, is expected to maintain its position due to stringent government regulations and increased utilization of geotextile dewatering bags.
Regionally, Asia-Pacific held the largest market share in 2019 and is projected to maintain its leadership with the highest CAGR of 10.7% from 2020 to 2027. This growth is attributed to favorable government initiatives and rising demand for agro-textile products. North America is expected to grow steadily with a projected CAGR of 9.3% during the forecast period.
Key players in the geotextile tubes market include TechFab India Industries Ltd., TenCate, Maccaferri, and others.
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