Geotextile Tubes Market Worth $3.3 Billion by 2024 - Exclusive Report by MarketsandMarkets™
CHICAGO, Aug. 27, 2019 /PRNewswire/ -- According to the new market research report "Geotextile Tubes Market by Type (Woven, Nonwoven), End-use (Marine & Hydraulic, Environmental Engineering, Agricultural Engineering, Construction), and Region (Europe, North America, APAC, MEA, South America) - Global Forecast to 2024", published by MarketsandMarkets™, the Geotextile Tubes Market is projected to grow from USD 1.8 billion in 2019 to USD 3.3 billion by 2024 at a Compound Annual Growth Rate (CAGR) of 10.0% during the forecast period.
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Geotextile tubes are porous tubes used for dewatering and structural applications. These bags are available in various sizes, strengths, circumferences, thicknesses, etc. The commonly used materials for manufacturing geotextile tubes are polypropylene, polyamide, and polyester. Geotextile tube has suitable opening sizes and is very good as a permeable filtration material. Geotextile tubes provide efficient dewatering and volume reduction, are cost-effective, and require less maintenance and labor cost.
The marine & hydraulic segment has been showing robust growth in consumption of geotextile tubes across the globe. The demand for woven geotextile tubes is the highest globally due to its filtration and high durable properties such as puncture resistance, wear and tear resistance, leak-proof, etc. Woven geotextile tubes are the ideal choice in the environmental engineering segment as these tubes offer better dewatering of industrial waste. In addition to this, these tubes are suitable for marine & hydraulic as well as agricultural use as these tubes can conform to the different types of sludge. However, the demand for nonwoven geotextile tubes is mainly in the beach nourishment application as these are not available in small sizes and are difficult to manufacture.
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The marine & hydraulic segment of the geotextile tubes market is projected to grow at the higher CAGR during the forecast period
Based on end-use, the marine & hydraulic segment is projected to grow at the higher CAGR between 2019 and 2024. The global marine & hydraulic segment has been showing robust growth in recent years due to the geotextile technology has been improving due to continuous advancements in its engineering principles and fabrication techniques. Each geotube, geobag or geocontainer is designed with well-structured design formulas and different specifications depending on the scientific properties of numerous marine coasts. For instance, sandy beach coasts have higher wave energy than muddy coast beaches. Thus, sandy beaches require high strength geotubes with specific height designs to withstand the wave forces. Additionally, sandy beach coasts also have higher bed shear strength in comparison to the bed shear strength of muddy coasts. Thus, the installation of geotextile tubes on muddy coasts leads to high maintenance costs in the long term due to the structural settlement of heavy weighted structures.
Woven geotextile tubes are projected to grow at the highest CAGR in the global geotextile tubes market
Based on type, woven geotextile tubes are expected to grow at the highest CAGR between 2019 and 2024. Woven geotextile tubes are manufactured by sewing one or more layers of high strength permeable woven geotextile fabric together to form a tube which is later filled with high water content materials by hydraulic pumping. Woven geotextile tube has fine porosity and has superior tensile strength, which allows efficient filtration. With increasing awareness and rise in ocean levels, the growth in consumption of geotextile tubes is expected to increase during the forecast period.
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The market in Asia Pacific is projected to lead the global geotextile tubes market during the forecast period
The geotextile tubes industry in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period. This can be attributed to the long coastline of the region and rising concerns over increasing ocean levels. Furthermore, emerging countries such as China, India, and Mexico are attracting global players in establishing their manufacturing bases in these regions. In countries such as China and India, the increasing investments by the government in the infrastructure activities are expected to provide major boost to this market. The increased investments across various technological, infrastructural, and R&D sectors have enabled manufacturers of geotextile tubes to supply high-quality products to these end-users and capitalize on the increasing demand in the region. After APAC, North America has the highest CAGR during the forecast period. This region is witnessing growth in all the major end-use segments, which is maintaining the high consumption of geotextile tubes.
Some of the leading players in the global Geotextile Tubes Market include Ace Geosynthetics (Taiwan), Officine Maccaferri (Italy), Low & Bonar (UK), Flexituff Ventures International Limited (India), TechFab India Industries Ltd (India), Geofabrics Australasia Pty Ltd (Australia), Koninklijke TenCate (Netherlands), NAUE GmbH & Co. KG (Germany), Huesker (Germany), Fibertex Nonwovens (Denmark), among various others.
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