Portland, OR, Nov. 12, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global geotextile tubes industry generated $3.3 billion in 2019, and is expected to garner $7.2 billion by 2027, witnessing a CAGR of 10.0% from 2020 to 2027. The report provides an extensive analysis of changing market trends, key investment pockets, top segments, key winning strategies, pricing strategies, and competitive scenarios.
Rise in demand from developing economies and surge in preference for non-woven technical fabrics drive the global geotextile tubes market. However, high amount of toxic waste production hinders the market growth. On the other hand, advent of eco-friendly technology presents new opportunities in the coming years.
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Covid-19 Scenario:
- Manufacturing activities and supply chains have been disrupted due to lockdown in many regions. Moreover, there has been an economic slowdown.
- The downstream demand has been reduced significantly. The construction industry has come to standstill due to lockdown enforced by governments of many countries. Moreover, daily activities in the marine, pulp & paper mills, and other end-user industries have been disrupted.
- With restrictions of the lockdown being eased off, construction activities have begun marginally. In addition, daily activities are getting back on track. So, the demand for geotextile tubes would grow steadily.
The report provides detailed segmentation of the global geotextile tubes market based on type, end-user industry, and region.
Based on type, the non-woven segment accounted for the highest market share in 2019, holding to nearly three-fifths of the total market, and will maintain its leadership status during the forecast period. Moreover, this segment is expected to grow at the highest CAGR of 10.2% from 2020 to 2027. The report also offers a detailed analysis of the woven segment.
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Based on end-user industry, the wastewater segment accounted for the highest share, contributing to more than one-fourth of the global geotextile tubes market in 2019, and is projected to maintain its highest contribution by 2027. However, the marine segment is estimated to witness the highest CAGR of 11.7% from 2020 to 2027.
Based on region, Asia-Pacific held the highest market share in 2019, contributing to more than one-third of the market, and will maintain its lead position during the forecast period. Furthermore, this region is expected to manifest at the highest CAGR of 10.7% from 2020 to 2027.
Leading players of the global geotextile tubes market analyzed in the report include TechFab India Industries Ltd, Flexituff Ventures International Limited, KG, Koninklijke TenCate, Ace Geosynthetics, Huesker, Low & Bonar, Officine Maccaferri, NAUE GmbH & Co., Geofabrics Australasia Pty Ltd, and Fibertex Nonwovens.
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