The global geotextile tubes market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 3.3 billion by 2024, at a CAGR of 10.0%
Increasing construction of soft engineering structures for coastal protection is expected to drive the demand for geotextile tubes from marine & hydraulic segment during the forecast period.
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NEW YORK, Sept. 16, 2019 /PRNewswire/ -- The global geotextile tubes market is estimated to be valued at USD 1.8 billion in 2019 and is projected to reach USD 3.3 billion by 2024, at a CAGR of 10.0% from 2019 to 2024. The rising level of oceans and seas—due to the increase in temperature—is a major factor causing coastal erosion. The increase in sea and ocean levels result in larger and higher waves reaching the coast through deepening near-shore waters. Coastal erosion is accelerated further by human activities such as sand dredging and harbor construction. Geotextile tubes and bags have been installed along the coastlines of Bay of Bengal, along with the coastal areas of Malad, Mumbai, along the sea wall of Uppada, Andhra Pradesh and in other coastal areas all over India. The government of India has instantiated the latest project as of June 2019. The government has permitted to install geotextile tubes technology to prevent the sea attacks along the coast of Ponani, Kerala. The geotextile tubes will be installed from the coast of Puthuponnani to Ponnani.
The woven segment of geotextile tubes market is projected to grow at the higher CAGR during the forecast period
Based on type, the woven segment is expected to grow at the higher CAGR between 2019 and 2024.Woven geotextile tubes are used widely for dewatering applications due to their high-performance efficiency.
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 superior tensile strength, which allows efficient filtration.
The market in Asia Pacific is projected to grow at the highest CAGR in the global geotextile tubes market
The geotextile tubes market in the Asia Pacific region is expected to grow at the highest CAGR during the forecast period.The geotextile tubes market in the Asia Pacific (APAC) region is growing rapidly.
This region is home to some of the leading consumers of geotextile tubes globally, such as China, Japan, South Korea, and India.Increasing construction activities and rising awareness regarding coastal erosion are some of the major factors attributed to the growth of the market in the region.
Countries, such as China, Japan, South Korea, India, Singapore, and Australia are majorly driving growth in the Asia Pacific region and provide considerable scope for the further development of the geotextile tubes market.
The break-up of profiles of primary participants for the report has been given below:
• By Company Type: Tier 1—50%, Tier 2—25%, and Tier 3—25%
• By Designation: C Level—45%, D Level—30%, and Others—25%
• By Region: Asia Pacific—25%, Europe—45%, North America—15%, Middle East & Africa—10%, and South America—5%
Major companies in the 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.
Research Coverage
This report defines, segments, and projects the geotextile tubes market based on type, end-use, and region.It strategically profiles key players and comprehensively analyzes the ranking of leading players in the geotextile tubes market.
It also tracks and analyzes competitive developments, such as expansions, acquisitions, new product launches, supply contracts, distribution agreement, collaboration, and divestment in the geotextile tubes market.
Reasons to Buy the Report
This report is expected to help market leaders/new entrants in this market by providing them the closest approximations of revenues of the geotextile tubes market and its subsegments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape, gain insights to enhance the positions of their businesses, and enable them to make suitable go-to-market strategies.
The report is expected to help stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
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