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Geotextile Tubes Market Size, Share, Price, Trends, Growth, Analysis, Report and Forecast 2024-2032
Geotextile Tubes
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the geotextile tubes industry. This report on geotextile tubes market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The geotextile tubes market size has grown rapidly in recent years. It will grow from $3.77 billion in 2023 to $4.37 billion in 2024 at a compound annual growth rate (CAGR) of 16.0%. The growth in the historic period can be attributed to coastal erosion control, dredging and sediment management, flood control and disaster management, infrastructure development, agriculture and aquaculture.
The geotextile tubes market size is expected to see rapid growth in the next few years. It will grow to $7.55 billion in 2028 at a compound annual growth rate (CAGR) of 14.6%. The growth in the forecast period can be attributed to coastal and marine engineering, sustainable construction practices, water and wastewater management, energy and oil & gas, infrastructure resilience.
Major trends in the forecast period include circular economy adoption, stormwater management solutions, tailings management in mining, versatile geosynthetic material, green infrastructure integration.
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Key Market Players:
Audio-Technica Corporation, Bose Corporation, Dell Technologies Inc., GN Store Nord A/S, HP Development Company LP, GSE Environmental, Presto Geosystems, Solmax Group, Thrace Group, Minerals Technologies Inc., Officine Maccaferri S.p.A.
Market Drivers:
According to the Geotextile Tubes Market Report 2024 by The Business Research Company, The rising infrastructure development is expected to propel the growth of geotextile tubes market going forward. Geotextile tubes are used for soil stabilization, erosion control, sediment management, retaining walls, flood protection, and more. They offer cost-effective solutions, durability, and compliance with environmental regulations, making them an essential component in modern infrastructure development. For instance, in November 2022, according to Global Australia Highlights, an Australia-based intergovernmental organization, the government budget for 2022-23 promises $12.04 billion (A$17.9 billion) over ten years for significant infrastructure projects around the country, including billions for road and rail projects. Between 2021 and 2025, total investment in major public infrastructure is estimated to exceed $146.72 billion (A$218 billion). Furthermore, in March 2023, according to Global X ETF, a US-based fund management firm, with the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) in November 2021, the United States took a significant step towards improving its infrastructure. Over the next ten years, the IIJA is going to invest $550 billion to improve roads, bridges, airports, and railroads, extend access to clean drinking water and broadband internet, and achieve environmental justice. Therefore, the rising infrastructure development is driving the growth of the geotextile tubes market.
More information about the Global Geotextile Tubes Market Report -
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Market segments for geotextile tubes include:
1) By Type: Woven, Nonwoven
2) By Material: Polypropylene, Polyester, Polyethylene
3) By End-User Industry: Wastewater Treatment, Agriculture, Aquaculture, Pulp And Paper Mills, Construction, Marine, Other End Use Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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