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Geotextile Tubes market Forecast
The market is being driven by increasing demand from developing countries and a rising preference for non-woven technical fabrics.
WILMINGTON, DE, UNITED STATES, September 14, 2024 /EINPresswire / -- Allied Market Research published a report titled“Geotextile Tubes Market by Type (Woven and Nonwoven) and End-User
industry (Wastewater Treatment, Agriculture, Aquaculture, Construction, Marine, Pulp & Paper Mills, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027.” The report indicates that the global geotextile tubes industry, valued at $3.3 billion in 2019, is projected to reach $7.2 billion by 2027, growing at a CAGR of 10.0% from 2020 to 2027.
Key Drivers of Growth
The market is being driven by increasing demand from developing countries and a rising preference for non-woven technical fabrics. However, challenges such as the generation of toxic waste hinder growth. On the other hand, advancements in eco-friendly technologies are expected to provide significant opportunities in the coming years.
Market Segmentation
Type:
- Nonwoven Segment: Dominated the market in 2019 with nearly 60% of the total market share. It is expected to maintain this leadership position, growing at the fastest CAGR of 10.2% during the forecast period. This growth is attributed to the segment's cost-effectiveness and suitability for various industrial applications.
- Woven Segment: The report also provides a comprehensive analysis of this segment.
End-User Industry:
- Marine Segment: Expected to grow at the highest CAGR of 11.7%, driven by its cost-effective applications in building marine structures such as bund walls and artificial surfing reefs.
- Wastewater Segment: Held the largest market share in 2019 (over one-fourth) and is projected to continue leading due to stringent wastewater treatment regulations and increased use of geotextile dewatering bags.
Regional Insights
- Asia-Pacific: Held the largest market share in 2019 (over one-third) and is expected to continue its dominance, growing at a CAGR of 10.7%. The growth is attributed to favorable government schemes and rising demand for agro-textile products.
- North America: Projected to grow at a CAGR of 9.3%, showing steady market expansion throughout the forecast period.
Leading Market Players
- TechFab India Industries Ltd.
- Flexituff Ventures International Ltd.
- Koninklijke TenCate
- Ace Geosynthetics
- Huesker
- Low & Bonar
- Officine Maccaferri
- NAUE GmbH & Co.
- Geofabrics Australasia Pty Ltd.
- Fibertex Nonwovens
Obtain Report Details:
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
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